Ashford Hospitality Trust announced its preliminary results for the fourth quarter of 2024, expecting occupancy of approximately 66%, an Average Daily Rate of approximately $190, and RevPAR of approximately $126. This comparable RevPAR reflects an approximate increase of 3.0% compared to the fourth quarter of 2023.
The company reported strong RevPAR performance in the fourth quarter, with October 2024 comparable RevPAR increasing approximately 4.5%, November 2024 increasing approximately 0.4%, and December 2024 increasing approximately 3.8% versus the prior year periods. Total hotel revenue increased approximately 4.4% in the fourth quarter and 6.9% in December, attributed to the 'GRO AHT' initiative's ancillary revenue streams.
Additionally, Ashford Trust declared its routine preferred dividends for the first quarter ending March 31, 2025, for its Series D, F, G, H, I, J, and K preferred stock. The company also noted that it had raised approximately $185 million in gross proceeds from its Series J and K non-traded preferred stock offerings since 2022, with the offering scheduled to close on March 31, 2025.
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