ASHFORD HOSPITALITY TRUST ANNOUNCES CONVERSION OF LA CONCHA KEY WEST TO MARRIOTT'S AUTOGRAPH COLLECTION
Rhea-AI Summary
Ashford Hospitality Trust (NYSE: AHT) has announced the completion of its Crowne Plaza La Concha Hotel conversion to the Autograph La Concha, joining Marriott's Autograph Collection®. The Key West property underwent a $35 million renovation, upgrading various facilities including the lobby, bar, restaurant, exterior, guestrooms, and converting the spa into premium roof-top suites.
Located on Duval Street in Old Town Key West, the 160-room hotel is expected to drive 20-30% premiums to pre-conversion RevPAR. The historic landmark hotel, which has hosted notable guests like Ernest Hemingway and Harry Truman, is strategically positioned near major attractions, shopping, and entertainment venues.
Positive
- $35 million renovation completed, enhancing property value
- Expected 20-30% RevPAR premium post-conversion
- Strategic upgrade to luxury brand positioning
- Prime location in Key West tourist district
- Conversion of underutilized spa into premium revenue-generating suites
Negative
- None.
News Market Reaction – AHT
In the trading session that priced this news, AHT gained 1.47%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
The Hotel recently completed a
"With the conversions of La Concha and Le Pavillon expected to drive 20–
The 160-room Hotel is ideally situated on Duval Street in the heart of Old Town Key West and is within walking distance of major attractions, shopping, entertainment, and nightlife. It is also centrally located near numerous water-sport opportunities including exceptional beaches, diving, and snorkeling. Near-by attractions include Mallory Square, The Hemingway Home and Museum, Truman Little White House, and Mel Fisher Maritime Museum. Many notable guests have stayed at the historic landmark hotel over the years, including literary legends and dignitaries like Ernest Hemingway, Tennessee Williams, and former
Ashford Hospitality Trust is a real estate investment trust (REIT) focused on investing predominantly in upper upscale, full-service hotels.
Forward-Looking Statements
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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.