Ashford Hospitality Trust announced reductions in corporate administrative and general expenses as part of its ongoing efforts to enhance EBITDA and improve financial performance. This strategic move is a key component of 'GRO AHT,' the company's initiative designed to drive $50 million in annual run-rate EBITDA improvement.
The company's advisor, Ashford Inc., has implemented several corporate cost-saving measures for Ashford Trust. These include reductions in legal spend, accounting and consulting fees, subscriptions and dues, general office expenses, and the consolidation of bank fees.
In total, Ashford Trust expects these initiatives to deliver over $4 million in annual savings, reinforcing its commitment to operational efficiency and disciplined financial management. Combined with previously announced initiatives, these reductions are expected to deliver over $18 million in incremental EBITDA.
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