Ashford Hospitality Trust Enters Material Definitive Agreement

TL;DR

AHT signed a big deal on Sept 11, 2024. Details to follow.

AI Summary

Ashford Hospitality Trust, Inc. (AHT) entered into a material definitive agreement on September 11, 2024. The filing also includes financial statements and exhibits related to this agreement. Specific details of the agreement and the financial implications are not fully disclosed in the provided text.

Why It Matters

This filing indicates a significant new contract or transaction for Ashford Hospitality Trust, which could impact its financial performance and future operations.

Risk Assessment

Risk Level: medium — The filing indicates a material definitive agreement, which could carry significant financial implications, but the specifics are not yet detailed.

Key Players & Entities

• Ashford Hospitality Trust, Inc. (company) — Registrant
• September 11, 2024 (date) — Date of earliest event reported
• 14185 Dallas Parkway, Suite 1200 (address) — Business address

FAQ

Key Financial Figures

• $38.32 — om per month at each hotel is capped at $38.32 (subject to annual increases beginning

Filing Documents

• aht-20240911.htm (8-K) — 34KB
• ahtfirstamendmenttohma.htm (EX-10.1) — 13KB
• 0001232582-24-000114.txt ( ) — 234KB
• aht-20240911.xsd (EX-101.SCH) — 3KB
• aht-20240911_def.xml (EX-101.DEF) — 17KB
• aht-20240911_lab.xml (EX-101.LAB) — 31KB
• aht-20240911_pre.xml (EX-101.PRE) — 18KB
• aht-20240911_htm.xml (XML) — 7KB

01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT

ITEM 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT. On September 11, 2024, Ashford TRS Corporation ("Ashford TRS"), a wholly-owned subsidiary of Ashford Hospitality Trust, Inc., entered into the First Amendment (the "Amendment") to Second Consolidated, Amended and Restated Hotel Master Management Agreement (the "Original Management Agreement") with Remington Lodging & Hospitality, LLC ("Remington"). Pursuant to the Amendment, the amount of Group Services (as defined in the Original Management Agreement) charged per room per month at each hotel is capped at $38.32 (subject to annual increases beginning in 2026 equal to the greater of 3% or the percentage change in the Consumer Price Index over the preceding annual period) (the "Cap"). Any unpaid balance will be paid by Ashford TRS, and the Cap will be disregarded when calculating the Incentive Fee (as defined in the Original Management Agreement) for 2024. The Cap will not apply to hotels for whom the New Lessee (as defined in the Original Management Agreement) is not a direct or indirect wholly-owned subsidiary of Ashford TRS. The foregoing description of the Amendment does not purport to be complete and is subject to, and qualified in its entirety, by the full text of the Amendment and the Original Management Agreement, which are attached hereto as Exhibit 10.1 and Exhibit 10.2, respectively, and are incorporated herein by reference.

01 FINANCIAL STATEMENTS AND EXHIBITS

ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS. (d) Exhibits Exhibit Number Description 10.1 First Amendment to Second Consolidated, Amended and Restated Hotel Master Management Agreement by and between Ashford TRS Corporation and Remington Lodging & Hospitality, LLC, dated September 11, 2024 10.2 Second Consolidated, Amended and Restated Hotel Master Management Agreement by and between Ashford TRS Corporation and Remington Lodging & Hospitality, LLC (incorporated by reference to Exhibit 10.65 of Form 10-K filed on March 14, 2024) (File No. 001-31775) 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: September 12, 2024 By: /s/ Alex Rose Alex Rose Executive Vice President, General Counsel & Secretary

View Full Filing

View this 8-K filing on SEC EDGAR