Ashford Hospitality Trust completes refinancing of two-hotel portfolio

Ashford Hospitality Trust has refinanced a mortgage secured by the Westin Princeton and Renaissance Nashville.

“This refinancing is a successful continuation of our focused strategies to benefit from the attractive lending market conditions we have been seeing for hotel assets,” said Douglas Kessler, Ashford Hospitality Trust’s president and CEO. “We are very pleased with this outcome, which enabled us to improve upon the pricing and effectively enhance our maturity schedule, while also realizing significant excess proceeds which we believe will further strengthen our liquidity position. We will continue to look for additional opportunities to better our operational performance and increase shareholder value.”