Ashford Hospitality Trust announced that it has signed a definitive agreement to sell the 150-room Residence Inn San Diego Sorrento Mesa, located in San Diego, California, for $42.0 million. This price equates to $280,000 per key.
The sale is expected to be completed in October 2025 and is subject to normal closing conditions. The company provides no assurances that the sale will be completed on these terms or at all.
Stephen Zsigray, Ashford Trust’s President and Chief Executive Officer, stated that the sale of Residence Inn San Diego Sorrento Mesa reflects Ashford’s strategy to opportunistically deleverage its portfolio. This transaction aligns with the company's ongoing efforts to optimize its asset base.
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