| Metric | Value ($ M) | Q1 FY25 |
|---|---|---|
| Revenue | 267.73 | 3.5% |
| Total Income | 267.73 | 3.5% |
| Expenditure | 362.30 | 40.6% |
| PBT | -64.71 | 195.8% |
| Net Profit | -63.77 | 219.3% |
| OPM | 4.95% | 17.24pp |
| NPM | -23.82% | 16.62pp |
| EPS | -11.03 | 124.6% |
Ashford Trust Reports Q1 2026 Results: RevPAR Increased 3.3%
12 May 2026 · 12 May, 3:01 am
Summary
Ashford Hospitality Trust reported its first quarter 2026 financial results, with comparable RevPAR increasing by 3.3% to $135.63. Comparable Hotel EBITDA grew by 5.2% to $73.2 million. The company successfully closed on five hotel sales for $238.5 million and extended its Highland mortgage loan, paying it down by $10 million. Strategic asset sales remain a core component of the company's plan to reduce leverage and enhance cash flow.
Key Highlights
- 1
Comparable RevPAR for all hotels increased 3.3% to $135.63 during the quarter.
- 2
Comparable ADR increased by 2.1% and Comparable Occupancy increased by 1.2%.
- 3
Adjusted EBITDAre was $51.7 million for the quarter.
- 4
Comparable Hotel EBITDA was $73.2 million for the quarter, reflecting growth of 5.2% over the prior year quarter.
- 5
The company closed on five hotel sales for combined gross proceeds of $238.5 million or $229,000 per key during the quarter.
- 6
Net loss attributable to common stockholders was $(71.1) million or $(11.03) per diluted share for the quarter.
- 7
The Company ended the quarter with cash and cash equivalents of $79.8 million and restricted cash of $141.2 million.
Management Comments
Stephen Zsigray
“Our first-quarter performance reflected disciplined execution across the portfolio as our asset management team and property managers delivered strong results, with a clear focus on aggressively managing operating expenses while driving revenue growth and operational efficiency.” “With a 3.3% increase in comparable RevPAR over the prior-year quarter and a 5.2% increase in comparable hotel EBITDA, the portfolio achieved a flow-through of 64.5%. From a capital markets perspective, strategic asset sales remain a core component of our plan to reduce leverage and enhance cash flow through both lower interest expense and reduced capital expenditures. “We've seen strong buyer interest across multiple assets, successfully closing on the sale of seven hotels and entering into definitive agreements to sell an additional six. The attractive cap rates achieved on these sales underscore the intrinsic value of our portfolio. “As we move through the remainder of the year, we expect strategic divestitures to remain an important lever to improve leverage, liquidity and cash flow. Additionally, we're encouraged by our progress to date in executing our strategy to drive outsized EBITDA growth, optimize our asset base and strengthen our balance sheet.” “Operating performance continues to strengthen,” said Zsigray. “With the ongoing implementation of our GRO AHT initiatives, quarterly AFFO has improved from $(13.8) million in Q1 2024, to $(5.6) million in Q1 2025, to breakeven in Q1 2026. That progression reflects work across cost structure, portfolio composition, and property performance, and the trajectory gives us conviction in our approach.
Informational and educational content only. Not investment advice.