Ashford Hospitality Trust Completes Acquisition
Ticker: AHT-PG · Form: 8-K · Filed: Mar 11, 2024 · CIK: 1232582
| Field | Detail |
|---|---|
| Company | Ashford Hospitality Trust Inc (AHT-PG) |
| Form Type | 8-K |
| Filed Date | Mar 11, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $19.2 million |
| Sentiment | neutral |
Sentiment: neutral
Topics: acquisition, assets
Related Tickers: AHT
TL;DR
AHT just closed a deal, details TBD.
AI Summary
Ashford Hospitality Trust, Inc. (AHT) announced on March 6, 2024, the completion of an acquisition. The filing does not specify the target of the acquisition or any associated dollar amounts, but it does list the company's common stock and Series D, F, G, H, and I preferred stock as being involved in the reporting period.
Why It Matters
This filing indicates a significant corporate action, potentially impacting the company's asset base and financial structure.
Risk Assessment
Risk Level: medium — Acquisitions inherently carry risks related to integration, financing, and market reception, though specific details are not yet provided.
Key Players & Entities
- Ashford Hospitality Trust, Inc. (company) — Registrant
- March 6, 2024 (date) — Date of earliest event reported
- Maryland (jurisdiction) — State of incorporation
FAQ
What specific assets or companies did Ashford Hospitality Trust acquire?
The filing does not specify the target of the acquisition.
What was the total dollar amount of the acquisition?
The filing does not disclose the dollar amount of the acquisition.
Were there any significant financing arrangements for this acquisition?
The filing does not provide details on financing arrangements for the acquisition.
What is the strategic rationale behind this acquisition for Ashford Hospitality Trust?
The filing does not state the strategic rationale for the acquisition.
Are there any expected impacts on Ashford Hospitality Trust's financial statements or operations as a result of this acquisition?
The filing indicates the completion of an acquisition but does not detail its expected financial or operational impacts.
Filing Stats: 659 words · 3 min read · ~2 pages · Grade level 11.7 · Accepted 2024-03-11 16:13:50
Key Financial Figures
- $19.2 million — een Seller and PEG Properties, LLC, for $19.2 million in cash, subject to customary pro-ratio
Filing Documents
- aht-20240306.htm (8-K) — 34KB
- ahtrislcdispopr.htm (EX-99.1) — 11KB
- ahtrislcdispositionproform.htm (EX-99.2) — 295KB
- image_1aa.jpg (GRAPHIC) — 194KB
- 0001232582-24-000031.txt ( ) — 811KB
- aht-20240306.xsd (EX-101.SCH) — 3KB
- aht-20240306_def.xml (EX-101.DEF) — 17KB
- aht-20240306_lab.xml (EX-101.LAB) — 31KB
- aht-20240306_pre.xml (EX-101.PRE) — 18KB
- aht-20240306_htm.xml (XML) — 7KB
01 COMPLETION OF ACQUISITION OR DISPOSITION OF ASSETS
ITEM 2.01 COMPLETION OF ACQUISITION OR DISPOSITION OF ASSETS. On March 6, 2024, the Company's indirect, wholly owned subsidiary, Ashford Salt Lake Limited Partnership ("Seller"), completed the sale of the Residence Inn Salt Lake City pursuant to an Agreement of Purchase and Sale, dated as of December 14, 2023, by and between Seller and PEG Properties, LLC, for $19.2 million in cash, subject to customary pro-rations and adjustments.
01 REGULATION FD DISCLOSURE
ITEM 7.01 REGULATION FD DISCLOSURE. On March 11, 2024, the Company issued a press release announcing the closing of the sale the Residence Inn Salt Lake City. A copy of the press release is attached hereto as Exhibit 99.1 and incorporated herein by reference. The information in this Item 7.01 of this Form 8-K and Exhibit 99.1 attached hereto shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, except as shall be expressly set forth by specific reference in such filing.
01 FINANCIAL STATEMENTS AND EXHIBITS
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS. (b) Pro Forma Financial Information. The unaudited pro forma financial information required to be disclosed under Item 9.01(b) of Form 8-K as of and for the year ended December 31, 2023, is attached hereto as Exhibit 99.2 and is incorporated by reference herein. (d) Exhibits Exhibit Number Description 99.1 Press Release of the Company, dated March 11, 2024 99.2 Unaudited Pro Forma Financial Information of Ashford Hospitality Trust, Inc. 104 Cover Page Interactive Data File (formatted in Inline XBRL and contained in Exhibit 101)
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. ASHFORD HOSPITALITY TRUST, INC. Dated: March 11, 2024 By: /s/ Alex Rose Alex Rose Executive Vice President, General Counsel & Secretary