Dive Brief:
- Subsidiaries of Ashford Hospitality Trust sold the Fremont Marriott Silicon Valley hotel in Fremont, California, to an affiliate of Chicago-based investment firm Singerman Real Estate for $53 million, according to a filing with the U.S. Securities and Exchange Commission.
- The transaction, which closed July 1 per the filing, followed Ashford’s $158 million sale of the Hyatt Regency Savannah in Georgia at the end of June as well as several other smaller hotel dispositions throughout the month.
- In the trust’s first-quarter earnings report, Ashford CEO Stephen Zsigray said strategic asset sales would “remain an important lever to improve leverage, liquidity and cash flow” for the trust throughout 2026.
Dive Insight:
The Fremont Marriott offers 357 newly renovated guest rooms, an on-site restaurant, a pool, a fitness center and roughly 15,000 square feet of meetings and events space, according to the property’s website. Dallas-based Remington Hospitality manages the hotel.
Ashford’s sale of the property came after the trust offloaded the Silversmith Hotel Chicago Downtown for $16 million and the Sheraton Mission Valley in San Diego for $45.3 million in June, according to separate SEC filings. Also last month, Ashford sold two Hilton Garden Inn hotels in Jacksonville, Florida, and Austin, Texas, for $11.3 million and $26.85 million, respectively, per SEC filings.
In the first quarter of the year, Dallas-based Ashford sold five hotels that netted the trust combined gross proceeds of $238.5 million. One of those hotels included the Hilton Alexandria Old Town in Alexandria, Virginia, which Ashford traded for $58 million.
The recent sales come as “opportunistic dispositions remain a core component” of Ashford’s strategy in 2026, Zsigray said during a February earnings call. At that time, Ashford was currently marketing or negotiating off-market transactions on 18 hotels, Zsigray added.
Industrywide, hotel transaction volumes are expected to see an uptick in 2026, JLL reported earlier this year.
