Ashford Hospitality Trust Has Closed On The Sale Of Springhill Suites And The Fairfield Inn Located In Kennesaw, Georgia For $17.5M

Ashford Hospitality Trust, Inc. (NYSE:AHT) ("Ashford Trust" or the "Company") today announced that it has closed on the sale of the 90-room SpringHill Suites and the 86-room Fairfield Inn located in Kennesaw, Georgia for $17.5 million.  The sale price represented a 4.8% capitalization rate on trailing 12-month net operating income through April 2024.  The hotels were encumbered with a mortgage loan that had an outstanding balance of approximately $10.8 million.  All remaining proceeds from the sale will be used for general corporate purposes, including the pay down of the Company's strategic financing.

Ashford Hospitality Trust is a real estate investment trust (REIT) focused on investing predominantly in upper upscale, full-service hotels.