DivestmentOct 9, 2026, 04:31 PM
Ashford Hospitality Sells Philadelphia Hotel for $26M
AI Summary
Ashford Hospitality Trust, Inc. announced the completion of the sale of the Embassy Suites Philadelphia Hotel for approximately $26.0 million in cash. The company also reported paying approximately $24.6 million to a mortgage lender. Unaudited pro forma financial information related to the disposition has been filed.
Key Highlights
- Ashford Hospitality Trust Inc. completed the sale of Embassy Suites Philadelphia Hotel for approximately $26.0 million in cash.
- The sale of the hotel is expected to result in a non-recurring gain.
- The company paid approximately $24.6 million to a mortgage lender secured by 12 hotels, including the sold property.
- Unaudited pro forma financial information as of and for the six months ended June 30, 2026, and for the year ended December 31, 2025, has been filed.
Price Impact
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