DivestmentApr 10, 2026, 05:06 PM
Ashford Trust Sells Palm Beach Embassy Suites for $40.5M
AI Summary
Ashford Hospitality Trust, Inc. completed the sale of its 160-room Embassy Suites Palm Beach Gardens hotel for approximately $40.5 million in cash, net of selling expenses. Concurrently, the company paid down approximately $40.0 million to the mortgage lender, which had a loan secured by this and ten other hotels. The filing includes unaudited pro forma financial information reflecting the disposition.
Key Highlights
- Sold 160-room Embassy Suites Palm Beach for $40.5 million cash.
- Paid approximately $40.0 million to mortgage lender.
- Mortgage loan was previously secured by eleven hotels.