Ashford Trust preliminary Q1 RevPAR up ~30% YoY; 60% of hotels exiting cash traps

ASHFORD HOSPITALITY TRUST INC

2023-Q1 EPS reported -$1.88 revenue$328,886,000

Q1 2023 preliminary results: Occupancy ~68%, ADR ~$184, RevPAR ~$125.
Comparable RevPAR growth of ~30% vs Q1 2022; March RevPAR up ~19% YoY.
60% of hotels expected out of cash traps post-Q1, up from 21% at Q4 2022.
Extended BAML Highland Pool Loan to April 2024 with $45M paydown.
Refinancing La Posada de Santa Fe and Hilton Alexandria loans in progress.

item 2.02 item 8.01 item 9.01

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

ASHFORD HOSPITALITY TRUST INC reported preliminary financial results for first quarter of 2023.

Period: first quarter of 2023
Result: preliminary results

Exact text from the filing

On April 11, 2023, Ashford Hospitality Trust, Inc. (the “Company”) issued a press release announcing its preliminary estimated occupancy, average daily rate and RevPAR operating results for the first quarter of 2023.

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Source: SEC EDGAR

accession 0001232582-23-000041

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