DivestmentJun 23, 2026, 04:32 PM
Ashford Hospitality Trust Sells Austin Hotel for $26.85M
AI Summary
Ashford Hospitality Trust, Inc. completed the sale of its 254-room Hilton Garden Inn Austin Downtown hotel in Austin, Texas, for $26.85 million in cash. The company received approximately $26.4 million in net cash consideration and used approximately $25.7 million to repay a portion of the mortgage loan secured by the hotel. Unaudited pro forma financial information reflecting the disposition was also provided.
Key Highlights
- Sold 254-room Hilton Garden Inn Austin Downtown hotel.
- Sale price was $26.85 million in cash.
- Net cash consideration received was approximately $26.4 million.
- Approximately $25.7 million was used to repay mortgage debt.
- Unaudited pro forma financial information reflects a preliminary gain on disposition.
Price Impact
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