• Hilton Boston Back Bay Hotel   

Ashford Hospitality Trust, Inc. (NYSE: AHT) today announced that it has closed on the sale of the 390-room Hilton Boston Back Bay in Boston, Massachusetts for $171 million ($438,000 per key).  All of the proceeds from the sale were used for debt reduction including approximately $68 million to pay down the Company's strategic financing.

"We are pleased to announce the closing of the sale of the Hilton Boston Back Bay for a very attractive value and the significant progress we've made in paying down our strategic financing," commented Rob Hays, Ashford Trust's President and Chief Executive Officer. "With this recent paydown, the remaining balance on our strategic financing is now approximately $112 million, and going forward, we plan to make regular paydowns with proceeds from the sale of our non-traded preferred stock and other asset sales.  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."

Ashford Hospitality Trust is a real estate investment trust (REIT) focused on investing predominantly in upper upscale, full-service hotels.