One Ocean Resort and Spa Update 07/09/24

Ashford Hospitality Trust Closes Previously Announced Sale of One Ocean Resort

 

Ashford Hospitality Trust, Inc. (NYSE: AHT) ("Ashford Trust" or the "Company") today announced that it has closed on the sale of the 193-room One Ocean Resort located in Atlantic Beach, Florida.  All proceeds from the sale will be used for debt reduction and general corporate purposes.  With the closing of the sale, the Company's net debt to gross assets now stands at approximately 66%, a 400 basis point reduction from the beginning of the year.  The balance on the Company's strategic financing now stands at approximately $98 million, and the Company has raised approximately $139 million in gross proceeds from the sale of its non-traded preferred stock.  The Company continues to have additional assets in the market at various stages of the sales process. 

 

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

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