ASHFORD HOSPITALITY TRUST ANNOUNCES AGREEMENT TO SELL THE HILTON HOUSTON NASA CLEAR LAKE
Ashford Hospitality Trust (NYSE: AHT) has announced a definitive agreement to sell the 242-room Hilton Houston NASA Clear Lake in Houston, Texas for $27.0 million. The transaction is expected to close in June 2025. The sale price represents a 3.2% capitalization rate on net operating income (23.6x Hotel EBITDA) when adjusted for anticipated capital expenditures, or a 5.0% cap rate (15.2x Hotel EBITDA) excluding capital spend, based on the twelve months ended April 30, 2025.
The sale aligns with AHT's "GRO AHT" initiative and will help deleverage their Morgan Stanley 17 Pool loan while resulting in significant capital expenditure savings. The company is actively pursuing additional opportunistic asset sales as part of its transformation strategy.
Ashford Hospitality Trust (NYSE: AHT) ha annunciato un accordo definitivo per la vendita dell'hotel Hilton Houston NASA Clear Lake di 242 camere a Houston, Texas, per 27,0 milioni di dollari. La transazione dovrebbe concludersi a giugno 2025. Il prezzo di vendita rappresenta un tasso di capitalizzazione del 3,2% sul reddito operativo netto (23,6x EBITDA dell'hotel) considerando le spese in conto capitale previste, oppure un tasso di capitalizzazione del 5,0% (15,2x EBITDA dell'hotel) escludendo tali spese, basato sui dodici mesi terminati il 30 aprile 2025.
La vendita è in linea con l'iniziativa "GRO AHT" di AHT e contribuirà a ridurre l'indebitamento del prestito Morgan Stanley 17 Pool, generando al contempo significativi risparmi sulle spese in conto capitale. L'azienda sta inoltre attivamente valutando ulteriori vendite opportunistiche di asset nell'ambito della sua strategia di trasformazione.
Ashford Hospitality Trust (NYSE: AHT) ha anunciado un acuerdo definitivo para vender el hotel Hilton Houston NASA Clear Lake de 242 habitaciones en Houston, Texas, por 27,0 millones de dólares. Se espera que la transacción se cierre en junio de 2025. El precio de venta representa una tasa de capitalización del 3,2% sobre los ingresos netos operativos (23,6x EBITDA del hotel) ajustado por los gastos de capital anticipados, o una tasa de capitalización del 5,0% (15,2x EBITDA del hotel) excluyendo dichos gastos, basado en los doce meses finalizados el 30 de abril de 2025.
La venta está alineada con la iniciativa "GRO AHT" de AHT y ayudará a reducir la deuda del préstamo Morgan Stanley 17 Pool, además de generar ahorros significativos en gastos de capital. La compañía está activamente buscando ventas adicionales de activos oportunistas como parte de su estrategia de transformación.
Ashford Hospitality Trust (NYSE: AHT)는 텍사스 휴스턴에 위치한 242객실 규모의 Hilton Houston NASA Clear Lake 호텔을 2,700만 달러에 매각하는 확정 계약을 발표했습니다. 거래는 2025년 6월에 완료될 예정입니다. 매각 가격은 예상 자본 지출을 조정한 순영업이익 기준으로 3.2% 자본화율(호텔 EBITDA 23.6배), 자본 지출을 제외할 경우 5.0% 자본화율(호텔 EBITDA 15.2배)에 해당하며, 2025년 4월 30일 종료된 12개월을 기준으로 산정되었습니다.
이번 매각은 AHT의 "GRO AHT" 이니셔티브와 일치하며, Morgan Stanley 17 Pool 대출의 부채 비율을 낮추는 데 기여하고 상당한 자본 지출 절감을 가져올 것입니다. 회사는 또한 전환 전략의 일환으로 추가적인 기회 자산 매각을 적극적으로 추진하고 있습니다.
Ashford Hospitality Trust (NYSE : AHT) a annoncé un accord définitif pour la vente de l'hôtel Hilton Houston NASA Clear Lake de 242 chambres à Houston, Texas, pour 27,0 millions de dollars. La transaction devrait être finalisée en juin 2025. Le prix de vente correspond à un taux de capitalisation de 3,2 % sur le revenu net d'exploitation (23,6 fois l'EBITDA hôtelier) ajusté des dépenses en capital prévues, ou un taux de capitalisation de 5,0 % (15,2 fois l'EBITDA hôtelier) hors dépenses en capital, basé sur les douze mois clos au 30 avril 2025.
Cette vente s'inscrit dans le cadre de l'initiative "GRO AHT" d'AHT et contribuera à réduire l'endettement lié au prêt Morgan Stanley 17 Pool tout en générant des économies significatives sur les dépenses en capital. La société poursuit activement d'autres ventes opportunistes d'actifs dans le cadre de sa stratégie de transformation.
Ashford Hospitality Trust (NYSE: AHT) hat eine definitive Vereinbarung zum Verkauf des 242-Zimmer-Hotels Hilton Houston NASA Clear Lake in Houston, Texas, für 27,0 Millionen US-Dollar bekannt gegeben. Der Abschluss der Transaktion wird für Juni 2025 erwartet. Der Verkaufspreis entspricht einer Kapitalisierungsrate von 3,2 % auf das Nettobetriebsergebnis (23,6-faches Hotel-EBITDA) unter Berücksichtigung der erwarteten Investitionsausgaben oder einer Kapitalisierungsrate von 5,0 % (15,2-faches Hotel-EBITDA) ohne Investitionsausgaben, basierend auf den zwölf Monaten bis zum 30. April 2025.
Der Verkauf steht im Einklang mit der "GRO AHT"-Initiative von AHT und wird dazu beitragen, die Verschuldung des Morgan Stanley 17 Pool-Darlehens zu reduzieren sowie erhebliche Einsparungen bei den Investitionsausgaben zu erzielen. Das Unternehmen verfolgt aktiv weitere opportunistische Vermögensverkäufe im Rahmen seiner Transformationsstrategie.
- Sale will deleverage Morgan Stanley 17 Pool loan
- Significant capital expenditure savings expected from the sale
- Attractive capitalization rate achieved for the property sale
- Reduction in total property portfolio and potential revenue stream
- Sale is subject to closing conditions with no assurance of completion
Insights
AHT's $27M hotel sale at attractive cap rates will deleverage debt and save on capital expenditures, supporting their broader transformation strategy.
Ashford Hospitality Trust has secured a $27 million deal to sell its 242-room Hilton Houston NASA Clear Lake property, with completion expected in June 2025. This transaction represents particularly strong multiples - 15.2x Hotel EBITDA based on trailing twelve months performance without adjusting for capital expenditures, and an even more impressive 23.6x when factoring in anticipated capital needs.
The deal's 5.0% capitalization rate (unadjusted) or 3.2% (adjusted for capex) indicates the company is extracting significant value relative to the property's income generation. This appears to be a strategic portfolio optimization move that serves multiple financial objectives simultaneously:
First, the sale will deleverage AHT's Morgan Stanley 17 Pool loan, strengthening their balance sheet. Second, it eliminates future capital expenditure requirements for this property, improving free cash flow. Third, it aligns with their "GRO AHT" initiative, suggesting a broader transformation strategy through opportunistic divestitures.
The transaction metrics reflect a seller's market for this asset class, allowing AHT to monetize this property at multiples that exceed typical hotel transaction valuations. Management's disclosure that additional assets are at "various stages of the sales process" signals this isn't an isolated transaction but part of a deliberate portfolio reshaping effort to improve the company's financial foundation and operational focus on their remaining upper upscale, full-service hotels.
When adjusted for the Company's anticipated capital expenditures, the sale price represents a
"We are pleased to announce the signed agreement to sell the Hilton Houston NASA Clear Lake at a very attractive cap rate," commented Stephen Zsigray, Ashford Trust's President and Chief Executive Officer. "This sale will deleverage our Morgan Stanley 17 Pool loan, and result in significant capital expenditure savings. Combined with our "GRO AHT" initiative, we're excited about the potential for opportunistic sales to further transform the company and have additional assets in the market at various stages of the sales process."
Ashford Hospitality Trust is a real estate investment trust (REIT) focused on investing predominantly in upper upscale, full-service hotels.
Forward-Looking Statements
Certain statements and assumptions in this press release contain or are based upon "forward-looking" information and are being made pursuant to the safe harbor provisions of the federal securities regulations. Forward-looking statements are generally identifiable by use of forward-looking terminology such as "may," "will," "should," "potential," "intend," "expect," "anticipate," "estimate," "approximately," "believe," "could," "project," "predict," or other similar words or expressions. Additionally, statements regarding the following subjects are forward-looking by their nature: our business and investment strategy; anticipated or expected purchases, sales or dispositions of assets; our projected operating results; completion of any pending transactions; our ability to restructure existing property-level indebtedness; our ability to secure additional financing to enable us to operate our business; our understanding of our competition; projected capital expenditures; and the impact of technology on our operations and business. Such forward-looking statements are based on our beliefs, assumptions, and expectations of our future performance taking into account all information currently known to us. These beliefs, assumptions, and expectations can change as a result of many potential events or factors, not all of which are known to us. If a change occurs, our business, financial condition, liquidity, results of operations, plans, and other objectives may vary materially from those expressed in our forward-looking statements. You should carefully consider this risk when you make an investment decision concerning our securities. These and other risk factors are more fully discussed in the Company's filings with the SEC.
The forward-looking statements included in this press release are only made as of the date of this press release. Investors should not place undue reliance on these forward-looking statements. We will not publicly update or revise any forward-looking statements, whether as a result of new information, future events or circumstances, changes in expectations or otherwise except to the extent required by law.
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SOURCE Ashford Hospitality Trust, Inc.
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