Dive Brief:
- Ashford Hospitality Trust has entered into definitive agreements to sell six hotels for a combined $154.6 million, the real estate investment trust announced in an earnings report published Monday.
- The planned sales, which include the Hyatt Regency Long Island in New York and the Sheraton Indianapolis City Centre in Indiana, come after Ashford Hospitality Trust offloaded five hotels in the first quarter of 2026, netting combined gross proceeds of $238.5 million, per the report.
- For the remainder of the year, the trust expects “strategic divestitures to remain an important lever to improve leverage, liquidity and cash flow,” CEO Stephen Zsigray said in a statement.
Dive Insight:
In addition to the Long Island and downtown Indianapolis hotels, Ashford Hospitality Trust plans to sell the Sheraton Mission Valley San Diego in California, the Silversmith Hotel Chicago Downtown in Illinois, the Lakeway Resort & Spa in Texas and the Hilton Garden Inn Jacksonville JTB/Deerwood Park in Florida.
During the first quarter, Dallas-based Ashford Hospitality Trust sold the Hilton Alexandria Old Town in Virginia, the Hilton St. Petersburg Bayfront in Florida and La Posada de Santa Fe in New Mexico, the report detailed. The trust also sold the Embassy Suites by Hilton Houston Near the Galleria and the Embassy Suites by Hilton Austin Arboretum, both in Texas, following through on plans to sell first announced in November.
Meanwhile, following the quarter’s end, the trust sold two more Embassy Suites hotels for a combined $58 million, per the report.
“We’ve seen strong buyer interest across multiple assets, successfully closing on the sale of seven hotels and entering into definitive agreements to sell an additional six,” Zsigray said. “The attractive cap rates achieved on these sales underscore the intrinsic value of our portfolio.”
Ashford Hospitality Trust has been strategically deleveraging its portfolio since 2024. Over the last two years, the trust has also offloaded the 390-key Hilton Boston Back Bay hotel for $171 million, the Courtyard Boston Downtown for $123 million, and the Residence Inn San Diego Sorrento Mesa for $42 million.
