Quarterly ResultAug 12, 2026, 04:25 PM
Ashford Trust Q2 RevPAR +6.6%, AFFO $2.67/share; Sells 11 Hotels
AI Summary
Ashford Hospitality Trust reported strong second quarter 2026 results, with comparable RevPAR increasing 6.6% and Adjusted FFO per diluted share reaching $2.67. The company also significantly improved its balance sheet by selling eleven hotels for combined gross proceeds of $464.4 million and refinancing a $525.0 million mortgage loan, leading to a $599.5 million reduction in total debt. Despite these operational and balance sheet improvements, the company stated that preferred dividends remain suspended, though it intends to resume capital returns to preferred holders when conditions allow.
Key Highlights
- Comparable RevPAR increased 6.6% to $155.7 in Q2 2026.
- Net income attributable to common stockholders was $120.7 million ($1.62 per diluted share).
- Adjusted funds from operations (AFFO) per diluted share was $2.67 for Q2 2026.
- Comparable Hotel EBITDA grew 9.6% to $79.9 million in Q2 2026.
- Sold nine hotels for $385.3 million during the quarter, and two more post-quarter for $79.1 million.
- Refinanced Highland mortgage loan with a new $525.0 million loan at SOFR + 5.24%.
- Total debt decreased by $599.5 million to $2.0 billion at June 30, 2026.
- Cash and cash equivalents were $75.0 million, with restricted cash of $137.0 million.
Price Impact
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