Ashford Hospitality Trust announced today that it has completed the sale of the 315-room Courtyard Boston Downtown, located in Boston, Massachusetts. The property was sold for $123.0 million, which equates to $390,500 per key.
Stephen Zsigray, Ashford Trust's President and Chief Executive Officer, stated that the completion of this sale is a positive development. He highlighted that the transaction not only deleverages the company's BAML Highland Pool loan but also results in significant capital expenditure savings going forward.
The company expressed encouragement regarding the improved sentiment observed in both the transaction and financing markets. This sale aligns with Ashford Trust's ongoing strategic initiatives, including the recently announced 'GRO AHT' program, which aims to enhance revenue growth.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.