On August 5, 2019, Ashford Hospitality Trust, Inc. (“Ashford Trust” or the “Company”) announced the sale of the 251-room Marriott Plaza San Antonio in San Antonio, Texas for $34.0 million ($135,500 per key). The sales price, inclusive of buyer’s estimated anticipated capex of $21.3 million, represents a trailing twelve-month cap rate of 4.9% on net operating income and a 17.1x Hotel EBITDA multiple as of June 30, 2019.

The hotel had an existing allocated loan balance of approximately $23.3 million that was paid off at closing along with an additional $3.5 million of loan pay down associated with the release of the hotel from the loan pool. After loan payoff and transaction costs, the net proceeds from the sale were approximately $6 million.

The information in this Form 8-K and Exhibits attached hereto shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, except as shall be expressly set forth by specific reference in such filing. A copy of the press release is attached hereto as Exhibit 99.1.

ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS

(d) Exhibits

Exhibit Number> Description

ASHFORD HOSPITALITY TRUST INC Exhibit
EX-99.1 2 aht-sanantoniopr.htm EXHIBIT 99.1 Exhibit EXHIBIT 99.1NEWS RELEASE Contact:Deric EubanksJordan JenningsJoseph Calabrese Chief Financial OfficerInvestor RelationsFinancial Relations Board (972) 490-9600(972) 778-9487(212) 827-3772ASHFORD TRUST ANNOUNCES SALE OF MARRIOTT PLAZA SAN ANTONIO FOR $34 MILLION DALLAS,…
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About ASHFORD HOSPITALITY TRUST, INC. (NYSE:AHT)

Ashford Hospitality Trust, Inc. (Ashford), together with its subsidiaries, is an externally advised real estate investment trust (REIT). The Company operates through direct hotel investments segment. It is focused on investing in the hospitality industry with a focus on full-service upscale and upper-upscale hotels in the United States. The Company owns its lodging investments and conducts its business through Ashford Hospitality Limited Partnership, its operating partnership. Its hotels are operated under the brands of Hilton, Hyatt, Marriott, Starwood and Intercontinental Hotels Group. The Company’s hotels portfolio is asset-managed by Ashford LLC. The Company is focused on direct hotel investments and it may invest in a range of lodging-related assets. Its investments may include direct hotel investments; mezzanine financing through origination or acquisition; first-lien mortgage financing through origination or acquisition, and sale-leaseback transactions.