Ashford Hospitality Trust announced the completion of the sale of the Hilton Houston NASA Clear Lake in Houston, Texas, for $27 million, and the sale of the Residence Inn Evansville East in Evansville, Indiana, for $6 million.
When adjusted for the company's anticipated capital expenditures, the combined sale price represents a 1.3% capitalization rate on net operating income or a multiple of 45.3 times Hotel EBITDA for the twelve months ended July 31, 2025. Excluding anticipated capital spend, the combined sale price represents a 2.0% capitalization rate on net operating income.
Stephen Zsigray, President and Chief Executive Officer, commented that these transactions reflect the company's continued focus on creating shareholder value. He noted that selling these two non-core assets has deleveraged the platform, improved the coverage metrics of the recently extended MS 17 loan pool, and increased portfolio cash flow after debt service.
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