ASHFORD HOSPITALITY TRUST ANNOUNCES PROGRESS IN DELEVERAGING PLAN WITH SALE OF THE RESIDENCE INN SALT LAKE CITY
AHTAshford Hospitality Trust(AHT) Prnewswire·2024-03-12 05:00

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% ...