Ashford Hospitality Trust Sells Six Hotels to Optimize Portfolio

Ashford Hospitality Trust, Inc. has announced the sale of six hotels as part of its strategy to optimize its portfolio. The company has closed on the sale of four hotels for $252.5 million and has entered into agreements to sell two additional hotels, Lakeway Resort & Spa and Embassy Suites by Hilton Dallas Near the Galleria, for a combined $54.8 million. These transactions are expected to yield over $60 million in future capital expenditure savings. The proceeds from these sales will primarily be used to pay down mortgage debt. The company anticipates these sales will improve cash flow after debt service, reduce future capital expenditure obligations, and lower portfolio leverage, aligning with its strategic objectives to maximize shareholder value.