{"schema_version":"secwatch.filing_event.v1","accession":"0001232582-23-000064","form_type":"8-K","ticker":"AHT","cik":"0001232582","company_name":"ASHFORD HOSPITALITY TRUST INC","filed_at":"2023-07-07T23:59:59+00:00","discovered_at":"2026-05-14T18:03:33.366239+00:00","generated_at":"2026-06-13T10:55:23.600128+00:00","sec_items":["2.04","8.01","9.01"],"event_type":"other_material","sentiment":"negative","materiality_score":0.85,"calibrated_materiality_score":0.85,"confidence":"high","headline":"Ashford Trust defaults on three KEYS loan pools; expects to transfer 19 hotels to lenders","bullets":["Elected not to extend KEYS Pools A, B & F ($570M+ debt); likely consensual transfer of 19 hotels to lenders.","Extended Pools C, D & E with paydowns totaling ~$129M; avoids $255M in required paydowns on non-extended pools.","Non-extended hotels had negative equity: trailing 12-month NOI debt yield 5.6% vs ~8.8% interest rate.","Net debt to gross assets to decrease by >3 pp; total debt reduced by ~$700M (over 18%).","Non-extended hotels generated only ~10% of trailing Hotel EBITDA; RevPAR to increase ~3% after removal."],"urls":{"canonical":"https://secwatch.observer/filing/0001232582-23-000064","json":"https://secwatch.observer/filing/0001232582-23-000064.json","markdown":"https://secwatch.observer/filing/0001232582-23-000064.md","text":"https://secwatch.observer/filing/0001232582-23-000064.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1232582/000123258223000064/0001232582-23-000064-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1232582/000123258223000064/aht-20230707.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-13T10:55:23.600128+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"5bd255b7d69947874098b6a6e7ecb1eb2a2f61b7","claim":"ASHFORD HOSPITALITY TRUST INC amended loan.","evidence_excerpt":"The Company has extended its KEYS Pool C loan – secured by five hotels with a paydown of approximately $62 million","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1232582/000123258223000064/0001232582-23-000064-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"loan"},{"label":"Event","value":"amendment"}],"fact_type":"debt_financing"},{"claim_id":"5bd255b7d69947874098b6a6e7ecb1eb2a2f61b7","claim":"ASHFORD HOSPITALITY TRUST INC amended loan.","evidence_excerpt":"its KEYS Pool D loan – secured by five hotels with a paydown of approximately $26 million","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1232582/000123258223000064/0001232582-23-000064-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"loan"},{"label":"Event","value":"amendment"}],"fact_type":"debt_financing"},{"claim_id":"5bd255b7d69947874098b6a6e7ecb1eb2a2f61b7","claim":"ASHFORD HOSPITALITY TRUST INC amended loan.","evidence_excerpt":"its KEYS Pool E loan – secured by five hotels with a paydown of approximately $41 million","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1232582/000123258223000064/0001232582-23-000064-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"loan"},{"label":"Event","value":"amendment"}],"fact_type":"debt_financing"},{"claim_id":"a8a202f876cbcba0f470c0a760e8fb1cfc5645c9","claim":"ASHFORD HOSPITALITY TRUST INC reported a default on loan at approximately 8.8%.","evidence_excerpt":"the Company has elected not to make the required paydowns to extend its KEYS Pool A loan – secured by seven hotels, its KEYS Pool B loan – secured by seven hotels, and its KEYS Pool F loan – secured by five hotels","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1232582/000123258223000064/0001232582-23-000064-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"loan"},{"label":"Rate","value":"approximately 8.8%"},{"label":"Event","value":"default"}],"fact_type":"debt_financing"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}