Ashford Hospitality Trust, Inc. (NYSE: AHT) yesterday announced that as part of the Company's ongoing asset management initiatives, it has entered into a franchise agreement to convert the 258-room, Crowne Plaza Beverly Hills to a Marriott after the expiration of the existing Crowne Plaza license agreement in March of 2015.
Ashford Hospitality Trust, Inc. (NYSE: AHT) announced that the Company's Board of Directors approved a plan to spin-off an 80% ownership interest in an 8-hotel portfolio, totaling 3,146 rooms (2,912 owned rooms), to holders of Ashford Trust common stock in the form of a taxable special distribution.
Acquired at a trailing 12-month cap rate of 6.2% and trailing 12-month EBITDA yield of 7.0%
Includes 19 full-service hotels and nine select-service hotels, Concentration in major brands such as Hilton, Marriott, Hyatt and Starwood.
Ashford Hospitality Trust, Inc. (NYSE: AHT) today announced it has completed the sale of the Hilton Rye Town in Rye Brook, New York for $35.5 million in cash to an investment group spearheaded by Lodging Capital Partners. Ashford used the proceeds from the sale to reduce borrowings on its credit facility.
RevPAR increased 7.5% for the hotels not under re
Ashford Hospitality Trust, Inc. (NYSE: AHT) announced that the underwriter has exercised its option to purchase 300,000 shares of the Company’s common stock at $9.65 per share pursuant to Ashford’s December 2010 public offering. In total, the Company sold 7,800,000 shares of common stock at $9.65 per share.