Friday, June 28, 2024 Ashford Hospitality Trust , has announced the successful sale of the 193-room One Ocean Resort located in Atlantic Beach, Florida. The proceeds from this sale will be used to reduce debt and support general corporate purposes. This transaction has improved the Company’s net debt to gross assets ratio to approximately 66%, representing a 400 basis point improvement since the start of the year.
Additionally, Ashford Trust’s strategic financing balance now stands at around $98 million. The Company has also raised approximately $139 million in gross proceeds from the sale of its non-traded preferred stock. Ashford Trust continues to market several other assets, which are at various stages of the sales process.
Ashford Hospitality Trust is a real estate investment trust (REIT) that specializes in upper upscale, full-service hotels. This press release features “forward-looking” statements as defined by the Private Securities Litigation Reform Act of 1995. These statements, which concern the Company’s strategy and future plans, are subject to risks and uncertainties.
Terms such as “will likely result,” “may,” “anticipate,” “estimate,” “should,” “expect,” “believe,” “intend,” “could,” “plan,” and similar expressions identify these forward-looking statements. Several factors could cause actual results to differ materially from those anticipated, including the Company’s ability to raise sufficient capital to pay .
