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Ashford Hospitality Trust sells two hotels for $38m
Transactions - AUGUST 15, 2019

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Ashford Hospitality Trust sells two hotels for $38m

by Released

Ashford Hospitality Trust has sold the 156-room Courtyard Savannah Downtown in Savannah, Ga., and the 128-room Hilton Garden Inn in Wisconsin Dells, Wis., for $37.8 million.

“These transactions continue to demonstrate our ability to sell noncore assets at attractive cap rates compared to our current market valuation,” said Douglas Kessler, Ashford Hospitality Trust’s president and CEO. “With these sales and the associated debt paydown, we have lowered our leverage while also highlighting the value within our hotel properties. We will continue to pursue transactions that we believe will unlock value in our portfolio and enhance returns for our shareholders.”

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