Ashford Hospitality Trust Inc
NYSE:AHT

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Ashford Hospitality Trust Inc Logo
Ashford Hospitality Trust Inc
NYSE:AHT
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Price: 2.86 USD 3.62% Market Closed
Market Cap: $18.5m

Ashford Hospitality Trust Inc
Investor Relations

Ashford Hospitality Trust, Inc. is a real estate investment trust, which invests in the hospitality industry. The company is headquartered in Dallas, Texas and currently employs 119 full-time employees. The company went IPO on 2003-08-26. The Trust's portfolio consists of upscale hotels and upper upscale full-service hotels. The Trust is focused on investing in upper upscale full-service hotels in the United States. The company owns its lodging investments and conducts its business through Ashford Hospitality Limited Partnership (Ashford Trust OP), its operating partnership. Its hotel properties are primarily branded under the upscale and upper upscale brands of Hilton, Hyatt, Marriott and Intercontinental Hotel Group. The Trust has interests in approximately 100 consolidated hotel properties, including about 98 directly owned and two owned through a majority-owned investment in a consolidated entity. The company also owns an interest in approximately 88 hotel condominium units at WorldQuest Resort in Orlando, Florida (WorldQuest) and approximately 16.7% ownership in OpenKey. Ashford Hospitality Advisors LLC is the investment advisor of the Trust.

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Last Earnings Call
Fiscal Period
Q4 2025
Call Date
Feb 26, 2026
AI Summary
Q4 2025

Strategic Review: Ashford Hospitality Trust formed a special committee to evaluate strategic alternatives aimed at closing the gap between portfolio value and market value.

Profitability Initiatives: The GRO AHT program drove over $40 million in EBITDA improvement in 2025 and over $13 million in G&A savings year-over-year.

Dispositions: Six hotels were sold for $145 million, reducing future CapEx by nearly $50 million and improving annual portfolio cash flow after debt service by $5 million.

Ongoing Sales: Agreements signed to sell three more hotels for a total of $194.5 million, expected to save an additional $45 million in CapEx.

Operational Headwinds: Fourth quarter RevPAR declined 1.8% due to a federal government shutdown and other demand disruptions; excluding Washington, D.C., performance was stronger.

Financial Performance: Full year comparable hotel EBITDA grew 2.4%, total revenue rose 0.8%, and hotel EBITDA margin expanded over 40 bps.

Debt and Liquidity: $2.6 billion in loans (95% floating), $66.8 million in cash, and recent extension of a major loan after a $10 million paydown.

2026 Outlook: Group demand is improving with upcoming major events expected to benefit the portfolio, and capital expenditures are planned at $90–110 million.

Key Financials
Net Loss Attributable to Common Stockholders
$78.3 million (Q4), $215 million (full year)
Net Loss Per Diluted Share
$12.33 (Q4), $35.99 (full year)
AFFO Per Diluted Share
-$2.45 (Q4), -$5.66 (full year)
Adjusted EBITDAre
$40.4 million (Q4), $221.3 million (full year)
Total Loans
$2.6 billion
Blended Average Interest Rate
7.7%
Percentage of Fixed and Floating Debt
5% fixed, 95% floating
Cash and Cash Equivalents
$66.8 million
Restricted Cash
$149.6 million
Net Working Capital
$103.2 million
Hotel Portfolio Size
68 hotels, 16,500 net rooms
Share Count
6.6 million fully diluted shares outstanding
Comparable Hotel RevPAR
Decreased 1.8% (Q4 YoY)
Government Room Nights
Down 27.9% (Q4 YoY)
Full Year Total Revenue
Up 0.8% YoY
Full Year Comparable Hotel EBITDA
Up 2.4% YoY
Hotel EBITDA Margin
Expanded over 40 bps YoY
Group Revenue
Declined 1.1% (full year YoY)
Group Room Revenue (Resort Assets)
Up 9% YoY (2025)
Group Room Revenue (Renaissance Palm Springs)
Up 16.9% YoY
Incremental Other Revenue from GRO AHT
$7.7 million (full year)
Other Revenue Per Occupied Room
Up 11.5% YoY
Capital Expenditures (2025)
$71 million
Le Meridien Fort Worth Downtown – Group Room Revenue
Up 201.2% YoY (Q4)
Le Meridien Fort Worth Downtown – Food and Beverage Revenue
Up 59.4% YoY (Q4)
Le Meridien Fort Worth Downtown – Total Revenue
Up 48.3% YoY (Q4)
Earnings Call Recording
Other Earnings Calls

Management

Mr. Montgomery Jack Bennett IV
Founder & Chairman of the Board
No Bio Available
Mr. Deric S. Eubanks C.F.A.
CFO & Treasurer
No Bio Available
Mr. Alex Rose
Executive VP, General Counsel & Secretary
No Bio Available
Mr. Stephen Zsigray
CEO & President
No Bio Available
Mr. Justin R. Coe
Chief Accounting Officer
No Bio Available
Ms. Jordan Jennings
Manager of Investor Relations
No Bio Available
Mr. Larry Doyle
Senior Vice President of Asset Management
No Bio Available
Mr. Jay Steigerwald
Head of Distribution
No Bio Available
Mr. Chris Batchelor
President of RED Hospitality & Leisure
No Bio Available

Contacts

Address
TEXAS
Dallas
14185 Dallas Pkwy Ste 1100
Contacts
+19724909600.0
www.ahtreit.com
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