Ashford Hospitality Trust (AHT) has issued an announcement.
Ashford Hospitality Trust, Inc. has successfully sold the Hampton Inn in Lawrenceville, Georgia for $8.1 million, a sale reflecting a 6% capitalization rate based on the past year’s income. The proceeds will aid in corporate financial strategies, including debt reduction. Additionally, the company has relinquished control of various hotel properties as part of a cooperative foreclosure process, effectively ending its economic interest in these hotels’ operations. This move is part of a larger strategy to streamline the company’s asset base and improve its financial standing.
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