DivestmentMay 12, 2026, 06:06 AM
Ashford Hospitality Trust Sells Dallas Embassy Suites for $16.6M
AI Summary
Ashford Hospitality Trust, Inc. announced the completion of the sale of its 150-room Embassy Suites by Hilton Dallas Near the Galleria on May 6, 2026. The property was sold for approximately $16.6 million in cash, net of selling expenses. Concurrently, the company repaid approximately $16.0 million of the mortgage loan associated with the property. Pro forma financial information indicates a non-recurring gain of $4.323 million from the disposition.
Key Highlights
- Ashford Hospitality Trust completed the sale of the 150-room Embassy Suites by Hilton Dallas Near the Galleria.
- The hotel was sold for approximately $16.6 million in cash, net of selling expenses.
- The company paid approximately $16.0 million to the mortgage lender, as the loan was secured by ten hotels including the sold property.
- The unaudited pro forma balance sheet shows a decrease in net hotel properties by $12.29 million and net indebtedness by $14.58 million.
- The disposition resulted in an estimated non-recurring pro forma gain of $4.323 million for the year ended December 31, 2025.