Ashford Inc. Announces New Enhanced Return Funding Program With Braemar Hotels & Resorts In Connection With The Closing Of The Ritz-Carlton Lake Tahoe Acquisition
Ashford Inc. (Holding Company) (AINC)
NASDAQ:AMEX Investor Relations:
ashfordinc.com
Company Research
Source: PR Newswire
DALLAS, Jan. 17, 2019 /PRNewswire/ -- Ashford Inc. (NYSE American: AINC) ("Ashford" or the "Company") today announced that, in connection with the acquisition of the Ritz-Carlton Lake Tahoe, it has entered into an agreement with Braemar Hotels & Resorts, Inc. (NYSE: BHR) ("Braemar") for the new Enhanced Return Funding Program ("ERFP" or the "Program"). Under the Program, Ashford has agreed to provide up to $50 million to Braemar in connection with the acquisition by Braemar of additional hotels. Ashford will provide 10% of the purchase price of each hotel acquired by Braemar, for up to $500 million in total acquisitions. The Company currently anticipates funding the Program over the long-term with approximately 50% cash on hand and 50% debt. The Program will replace Ashford's legacy Key Money concept and has the ability to be upsized to $100 million based upon mutual agreement. Consistent with the Company's previous ERFP agreement with Ashford Hospitality Trust, the implementation
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News
- Ashford Inc. (NYSE: AINC) is now covered by analysts at StockNews.com. They set a "buy" rating on the stock.MarketBeat
- ASHFORD HOSPITALITY TRUST ANNOUNCES CEO SUCCESSION PLAN [Yahoo! Finance]Yahoo! Finance
- Ashford Inc. (NYSE: AINC) is now covered by analysts at StockNews.com. They set a "buy" rating on the stock.MarketBeat
- Ashford Inc. (NYSE: AINC) is now covered by analysts at StockNews.com. They set a "buy" rating on the stock.MarketBeat
- Ashford Inc. (NYSE: AINC) is now covered by analysts at StockNews.com. They set a "buy" rating on the stock.MarketBeat
AINC
Earnings
- 11/8/23 - Miss
AINC
Sec Filings
- 4/18/24 - Form SC
- 4/18/24 - Form 8-K
- 4/16/24 - Form SC
- AINC's page on the SEC website