Ashford Hospitality Climbs on Sales of Hilton Houston
Ashford Hospitality Trust, Inc. (NYSE: AHT) announced today that it has signed a definitive agreement to sell the 242-room Hilton Houston NASA Clear Lake located in Houston, Texas for $27.0 million. The sale is expected to be completed in June 2025 and is subject to normal closing conditions. The Company provides no assurances that the sale will be completed on these terms or at all.When adjusted for the Company's anticipated capital expenditures, the sale price represents a 3.2% capitalization rate on net operating income or 23.6x Hotel EBITDA for the twelve months ended April 30, 2025. Excluding the anticipated capital spend, the sale price represents a 5.0% capitalization rate on net operating income or 15.2x Hotel EBITDA for the 12 months ended April 30, 2025."We are pleased to announce the signed agreement to sell the Hilton Houston NASA Clear Lake at a very attractive cap rate," commented CEO Stephen Zsigray. "This sale will deleverage our Morgan Stanley 17 Pool loan, and result in significant capital expenditure savings. Combined with our "GRO AHT" initiative, we're excited about the potential for opportunistic sales to further transform the company and 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.AHT units grabbed 8.5 cents, or 1.4%. early Friday to $6.09.
Recent Posts
Europe Faces Most Difficult Moment in Bid to Avoid Split With US
Toripalimab Presents Long-Term Survival Benefits as 1st-line Treatment for Advanced Nasopharyngeal Carcinoma and Esophageal Squamous Cell Carcinoma Patients
Hastings Racecourse in Vancouver to shut down permanently, operator says
Russia’s Vital Oil Trade With India Is Down, But Not Out
Copper Quest Closes $1,927,000 Private Placement
This TSX stock was up 17% this week and it could gain another 36%, analysts say
AMC Entertainment Holdings, Inc. Transfers the Majority of its Equity Investment in Hycroft Mining Holding Corporation to Sprott Mining for a Net Consideration of $24.1 million
Guardian Capital Announces Estimated 2025 Annual Non-Cash Distributions for Guardian Capital ETFs
Emera Renews At-The-Market Equity Program
CRA warns of ‘aggressive tax schemes’ involving critical illness insurance
