other material
confidence high
sentiment neutral
materiality 0.50
Ashford Hospitality Trust sells Lakeway Resort & Spa for $37.75M cash
ASHFORD HOSPITALITY TRUST INC
- Sold 168-room Lakeway Resort and Spa in Austin, TX to Trestle Studio LLC for $37.75M gross, net of ~$0.5M expenses.
- Proceeds used to repay $36.3M on mortgage loan secured by 16 hotels including Lakeway; loan balance reduced by $3.3M.
- Pro forma shows removal of Lakeway assets ($22.7M) and liabilities ($34.6M); preliminary non-recurring gain of $15.3M for FY2025.
- Sale completed May 19, 2026; net cash impact of $37.2M after expenses and working capital adjustments.
- Transaction removes Lakeway's annual revenue of ~$13.6M and hotel expenses of ~$10.6M from ongoing operations.