DivestmentMay 28, 2026, 04:23 PM
Ashford Hospitality Trust Sells Sheraton Indianapolis for $16.5M Net
AI Summary
Ashford Hospitality Trust, through an indirect wholly owned subsidiary, completed the sale of the 378-room Sheraton Indianapolis City Centre Hotel for a gross purchase price of approximately $32.1 million. After purchaser credits and selling expenses, the company received approximately $16.5 million in cash. The company also paid approximately $14.6 million to the mortgage lender. The transaction resulted in an estimated non-recurring loss on disposition of $2.033 million for the year ended December 31, 2025.
Key Highlights
- Ashford Hospitality Trust completed the sale of the 378-room Sheraton Indianapolis City Centre Hotel.
- The gross purchase price for the hotel was approximately $32.1 million.
- The company received approximately $16.5 million in cash, net of buyer credits and selling expenses.
- Approximately $14.6 million was paid to the mortgage lender for the loan secured by nine hotels.
- The disposition resulted in an estimated non-recurring loss of $2.033 million for the year ended December 31, 2025.
- Pro forma financial information reflects an estimated income tax benefit of $11 thousand for Q1 2026 related to the sale.
Price Impact
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