Hospitality Expos - Ashford Hospitality Trust Hotel News

Ashford Hospitality Trust, Inc. (NYSE: AHT) today announced it has completed the sale of the Hilton Rye Town in Rye Brook, New York for $35.5 million in cash to an investment group spearheaded by Lodging Capital Partners. Ashford used the proceeds from the sale to reduce borrowings on its credit facility.

RevPAR increased 7.5% for the hotels not under re

Ashford Hospitality Trust, Inc. (NYSE: AHT) announced that the underwriter has exercised its option to purchase 300,000 shares of the Company’s common stock at $9.65 per share pursuant to Ashford’s December 2010 public offering. In total, the Company sold 7,800,000 shares of common stock at $9.65 per share.

Total revenue decreased 18.3% to $234.6 million from $287.3 millionRevPAR decreased 13.5% for the quarter

Ashford Hospitality Trust, Inc. (NYSE:AHT) today announced the refinancing of its $19.74 million loan secured by the Hilton El Conquistador Hotel and Country Club in Tucson, Arizona on December 29, 2009. The loan was set to mature in June 2011.

Ashford Hospitality Trust, Inc. (NYSE:AHT) today announced that the Company and the special servicer who is administering the $29.1 million first mortgage on the Company's Hyatt Regency Dearborn have mutually agreed to transfer the Company's possession and control of the hotel to a court-appointed receiver, effective December 3, 2009.

Ashford Hospitality Trust, Inc. (NYSE: AHT) today announced that Monty J. Bennett, Chief Executive Officer and President has relinquished the title of President and has promoted Douglas A. Kessler to fill the position of President. Since the Company's initial public offering in 2003, Mr. Kessler had been Chief Operating Officer and Head of Acquisitions. Mr. Bennett retains the title of Chief Executive Officer.

Total revenue increased 2.1% to $285.3 million from $279.5 million

Ashford Hospitality Trust, Inc. (NYSE: AHT) today announced that due to the recent hospitalization of David Kimichik, the Company's Chief Financial Officer, Mark Nunneley, Chief Accounting Officer, has assumed the additional responsibilities of interim Chief Financial Officer.

Completed Sales Reach $437 Million in 2008 - Expects to Report Net Gains of $42 Million