Ashford Hospitality Trust announced that Remington, its largest property manager, has fully implemented property-level headcount reductions and other expense-saving measures. These actions are part of the ongoing efforts to enhance Hotel EBITDA and support the company's 'GRO AHT' initiative.
The implemented measures include reduced travel expenses, changes to the PTO policy for field associates, and reductions in contracted services and centralized expenses allocated to the company's properties. These strategic moves reflect Remington's commitment to helping Ashford Trust achieve its goal of driving $50 million in annual run-rate EBITDA improvement.
These expense reductions are expected to drive over $11 million in incremental Hotel EBITDA. Combined with previously announced ancillary revenue initiatives and corporate expense reductions, the company expects completed initiatives to contribute over $30 million per year in incremental EBITDA towards its $50 million goal.
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.