DivestmentJul 6, 2026, 04:17 PM
Ashford Hospitality Trust Sells Hyatt Regency Savannah for $157.6M
AI Summary
Ashford Hospitality Trust, Inc. announced the completion of the sale of its Hyatt Regency Savannah hotel for approximately $157.6 million in cash, net of selling expenses. The company used approximately $159.0 million of the proceeds to repay a portion of the mortgage loan secured by 16 hotels, including the sold property. Pro forma financial information indicates a significant gain on the disposition and a reduction in the company's overall indebtedness.
Key Highlights
- Completed sale of Hyatt Regency Savannah for $157.6 million in cash, net of selling expenses.
- Paid approximately $159.0 million to the mortgage lender for the loan secured by 16 hotels.
- The Hyatt Regency Savannah is a 351-room hotel located in Savannah, Georgia.
- Pro forma balance sheet shows a net decrease in cash and cash equivalents of $1.407 million.
- Pro forma balance sheet shows a reduction in indebtedness of $96.715 million.
- Pro forma net income attributable to the company increased by $89.766 million for the year ended Dec 31, 2025.
Price Impact
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