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A real estate investment trust acquires 9 hotels in the United States

Ashford Hospitality, a real estate investment trust, acquires 9 hotels in the United States for $224 million.

Ashford Hospitality Trust announced today that it has signed a definitive agreement to acquire a 9- hotel portfolio for total consideration of $224 million in cash ($179,000 per key). The Company anticipates financing the portfolio with non-recourse debt of approximately $179 million. Upon closing, all of the properties will be managed by Remington Lodging.



"This portfolio afforded us the opportunity to acquire well-placed, well-conditioned assets with strong and diverse brands that will expand the geographic footprint of our platform" said Monty J. Bennett, Ashford Hospitality Trust's Chairman and Chief Executive Officer.

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