Ashford Hospitality Trust Announces Modest Revenue Increase In Second Quarter 2024, Eyes Steady Growth

Monday, July 8, 2024

Ashford Hospitality Trust, Inc. (NYSE: AHT), also known as Ashford Trust, provided an update today on its second-quarter 2024 performance. The company anticipates achieving approximately 75% occupancy, with an average daily rate of about $200, resulting in a revenue per available room (RevPAR) of around $150. This represents a modest increase of approximately 1.4% compared to the second quarter of 2023.

In April 2024, comparable RevPAR rose by approximately 3.0% compared to April 2023. Similarly, May 2024 saw a 1.4% increase in comparable RevPAR compared to May 2023. However, June 2024 experienced a slight decrease of 0.1% in comparable RevPAR compared to June 2023.

Additionally, as previously announced, Ashford Trust began offering its Non-Traded Preferred Equity in the third quarter of 2022. As of June 30, 2024, the company has 5,206,397 shares of its Series J non-traded preferred stock outstanding and 357,933 shares of its Series K non-traded preferred stock outstanding, raising approximately $139 million in gross proceeds.

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

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