ASHFORD HOSPITALITY PRIME, INC. (NYSE:AHP-B) Files An 8-K Regulation FD Disclosure

On June 19, 2017, Ashford Hospitality Prime, Inc. (“Ashford
Prime” or the “Company”) announced that it has reached an
agreement for an extension of the ground lease at the Hilton La
Jolla Torrey Pines hotel (the Hotel).

The four-star, 394-room Hotel sits on 11.38 acres owned by the
City of San Diego. Located adjacent to the legendary Torrey Pines
Golf Course and the Torrey Pines State Preserve, the first-class
amenities and dramatic views of the Pacific Ocean make the Hotel
one of the premier resorts in the San Diego area. The Hotel is
owned in a joint venture between subsidiaries of Ashford Prime
and Park Hotels Resorts, Inc. (NYSE: PK) with Ashford Prime
holding a 75% interest in the joint venture. The lease, which
currently expires in 2043, will be extended by 24 years and will
now expire in 2067. Through this agreement, the Company was also
able to secure options to further extend the ground lease by
either 10 or 20 additional years depending on the amount of
capital expenditures invested in the Hotel during the term.

A copy of this press release is attached hereto as Exhibit 99.1.

ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS

(d) Exhibits