ASHFORD HOSPITALITY TRUST ANNOUNCES PROGRESS IN DELEVERAGING PLAN WITH SALE OF THE RESIDENCE INN SALT LAKE CITY
Ashford Hospitality Trust Inc (AHT)
Last ashford hospitality trust inc earnings: 2/25 04:15 pm
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ahtreit.com
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Source: PR Newswire
DALLAS, March 11, 2024 /PRNewswire/ -- Ashford Hospitality Trust, Inc. (NYSE: AHT) ("Ashford Trust" or the "Company") today announced that it has closed on the sale of the 144-room Residence Inn located in Salt Lake City, Utah (the "Hotel") for $19.2 million. When adjusted for the Company's anticipated capital expenditures, the sale price represented a 4.6% capitalization rate on 2023 net operating income, or 18.2x 2023 Hotel EBITDA. Excluding the anticipated capital spend, the sale price represented a 6.0% capitalization rate on 2023 net operating income, or 14.0x 2023 Hotel EBITDA. All of the proceeds from the sale were used to pay down debt."We are pleased to announce the sale of the Residence Inn Salt Lake City at a very attractive cap rate," commented Rob Hays, Ashford Trust's President and Chief Executive Officer. "We continue to have several assets in the market at various stages of the sales process and look forward to providing more updates in the coming weeks."* * * *
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AHT
Earnings
- 2/28/24 - Beat
AHT
Sec Filings
- 4/18/24 - Form 8-K
- 4/10/24 - Form 8-K
- 4/10/24 - Form 8-K
- AHT's page on the SEC website