Ashford Hospitality Trust gains after co expects Q1 RevPAR to grow about 30%

Ashford Hospitality Trust

12/04/2023 16:39

** Shares of REIT Ashford Hospitality Trust  AHT.N  up 4.4%
at $2.86
    ** AHT expects comparable RevPAR growth for Q1 to be ~30%
    ** Expects to report Q1 occupancy of about 68% with avg
daily rate of about $184 resulting in RevPAR of about $125
    ** Anticipates 60% of its hotels are out of cash traps    
    ** Subsequent to end of Q1, AHT extended its BAML Highland
Pool Loan until April 2024, as part of which it paid down
existing loan balance of $45 mln
    ** AHT is also working with a lender on refinancing of La
Posada de Santa Fe and Hilton Alexandria loans, which are the
co's only final debt maturities in 2023
    ** Up to last close, stock fell 35.8% YTD

 (Reporting by Sri Hari N S)
 ((SriHari.NS@thomsonreuters.com;))