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Ashford Trust (NYSE: AHT) sells San Diego Sheraton, pays $35.9M toward hotel debt

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(High)
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Form Type
8-K

Rhea-AI Filing Summary

Ashford Hospitality Trust has completed the sale of the 260-room Sheraton San Diego Mission Valley hotel. The property was sold on June 9, 2026 for approximately $45.3 million in cash, with related consideration of about $45.0 million net of selling expenses.

The company used approximately $35.9 million of the proceeds to repay a mortgage loan that is secured by 15 hotels, including this property. Ashford Trust also provided unaudited pro forma financials showing how its balance sheet and results for 2025 and the first quarter of 2026 would look without the Sheraton San Diego, including removal of that hotel’s assets, liabilities, revenue and expenses and recognition of a non-recurring gain on the sale.

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Insights

Ashford Trust sells a San Diego hotel and applies most proceeds to debt tied to multiple properties.

Ashford Hospitality Trust completed the cash sale of the 260-room Sheraton San Diego Mission Valley for about $45.3M, with net consideration of roughly $45.0M. It then paid approximately $35.9M to a mortgage lender on a loan secured by 15 hotels, including this asset.

The unaudited pro forma statements remove Sheraton San Diego’s revenue, expenses, assets and liabilities, and add a preliminary non-recurring gain on the disposition. For the year ended December 31, 2025, pro forma net loss attributable to the company narrows from $215,004k to $206,344k, mainly reflecting the gain and lower interest expense.

For the three months ended March 31, 2026, pro forma net loss attributable to common stockholders improves slightly from $71,086k to $70,492k. Future filings may refine the preliminary gain amounts as final transaction and tax effects are determined, but the current data frame this as a targeted asset sale with associated debt reduction.

Item 2.01 Completion of Acquisition or Disposition of Assets Financial
The company completed a significant acquisition or sale of business assets.
Item 9.01 Financial Statements and Exhibits Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Gross sale price $45.3 million cash Consideration for Sheraton San Diego Mission Valley on June 9, 2026
Net sale proceeds $45.0 million cash Total consideration net of selling expenses for Sheraton San Diego
Debt repayment $35.9 million Paid to mortgage lender on loan secured by 15 hotels including Sheraton San Diego
Total assets historical $2,605,309k Ashford Trust consolidated assets as of March 31, 2026
Total assets pro forma $2,571,433k Pro forma assets after Sheraton San Diego disposition as of March 31, 2026
2025 net loss to common (historical) $215,004k Net loss attributable to common stockholders for year ended December 31, 2025
2025 net loss to common (pro forma) $206,344k Pro forma net loss attributable to common stockholders excluding Sheraton San Diego
Q1 2026 net loss to common (pro forma) $70,492k Net loss attributable to common stockholders for three months ended March 31, 2026, pro forma
unaudited pro forma financial information financial
"The following unaudited pro forma financial information of the Company, as of and for the three months ended March 31, 2026, and for the year ended December 31, 2025, has been prepared for informational purposes only"
Completion of Acquisition or Disposition of Assets regulatory
"ITEM 2.01 COMPLETION OF ACQUISITION OR DISPOSITION OF ASSETS. On June 9, 2026, Ashford MV San Diego LP…completed the sale"
gain on extinguishment of debt financial
"Gain (loss) on extinguishment of debt | 335"
variable interest entities (VIEs) financial
"Investments in hotel properties, gross ($82,787 attributable to VIEs)"
A variable interest entity (VIE) is a business structure where one party controls another company’s operations and economic benefits through contracts rather than majority ownership, often used when direct ownership is restricted. Think of it like having power of attorney over a business: you run it and get the profits, but you don’t hold the legal title. For investors this matters because VIEs can concentrate legal and regulatory risk and may limit shareholders’ direct rights to assets, which can affect valuation and stability.
impairment charges financial
"Impairment charges | 67,648"
Impairment charges are one-time accounting write-downs taken when a company decides an asset — like a factory, brand, patent, or investment — is worth less than it was recorded for. Like marking down the price of a damaged item on a store shelf, they reduce reported profits and the asset’s book value; investors watch them because they can signal lasting business problems or change future earnings and balance-sheet strength.
redeemable noncontrolling interests financial
"Net (income) loss attributable to redeemable noncontrolling interests in operating partnership"
A redeemable noncontrolling interest is a minority ownership stake in a company that the holder can force the company to buy back at a set price or under certain conditions. For investors this matters because it creates a future cash obligation and can be treated more like a liability than permanent equity, affecting a company’s reported debt, net income and valuation — think of it as a part-owner who can cash out, forcing the business to pay them.
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8-K
CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934

Date of Report (date of earliest event reported): June 9, 2026

ASHFORD HOSPITALITY TRUST, INC.
(Exact name of registrant as specified in its charter)

Maryland001-3177586-1062192
(State or other jurisdiction of incorporation or organization)(Commission File Number)(IRS employer identification number)
14185 Dallas Parkway, Suite 1200
Dallas
Texas75254
(Address of principal executive offices)(Zip code)

Registrant’s telephone number, including area code: (972) 490-9600

Not Applicable
(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company    ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading Symbol(s)Name of each exchange on which registered
Common StockAHTNew York Stock Exchange
Preferred Stock, Series DAHT-PDNew York Stock Exchange
Preferred Stock, Series FAHT-PFNew York Stock Exchange
Preferred Stock, Series GAHT-PGNew York Stock Exchange
Preferred Stock, Series HAHT-PHNew York Stock Exchange
Preferred Stock, Series IAHT-PINew York Stock Exchange
Preferred Stock Repurchase RightsNew York Stock Exchange


ITEM 2.01    COMPLETION OF ACQUISITION OR DISPOSITION OF ASSETS.

On June 9, 2026, Ashford MV San Diego LP, an indirect wholly owned subsidiary of Ashford Hospitality Trust, Inc. (the “Company”), completed the sale of the Sheraton Mission Valley located in San Diego, California pursuant to an Agreement of Purchase and Sale, dated as of March 26, 2026, as amended, by and between Ashford MV San Diego LP, as seller, and Hotel Circle Holdings LLC, as purchaser, for approximately $45.3 million in cash, subject to customary pro-rations and adjustments.

ITEM 9.01    FINANCIAL STATEMENTS AND EXHIBITS.

(b)    The unaudited pro forma financial information for the Company as of and for the three months ended March 31, 2026 and for the year ended December 31, 2025, is attached hereto as Exhibit 99.1 and is incorporated by reference herein.

(d)    Exhibits

Exhibit Number        Description

99.1    Unaudited Pro Forma Financial Information of Ashford Hospitality Trust, Inc.
101    Inline Interactive Data Files.
104    Cover Page Interactive Data File (formatted in Inline XBRL and contained in Exhibit 101)


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.



ASHFORD HOSPITALITY TRUST, INC.
Dated: June 12, 2026By:/s/ Justin Coe
Justin Coe
Chief Accounting Officer


EXHIBIT 99.1
On June 9, 2026, Ashford Hospitality Trust, Inc. (“Ashford Trust” or the “Company”) completed the sale of the 260-room Sheraton San Diego Mission Valley located in San Diego, California (“Sheraton San Diego”) for total consideration of approximately $45.0 million in cash, net of selling expenses. Additionally, the Company paid approximately $35.9 million to the mortgage lender. The mortgage loan is secured by 15 hotels including Sheraton San Diego.
The following unaudited pro forma financial information of the Company, as of and for the three months ended March 31, 2026, and for the year ended December 31, 2025, has been prepared for informational purposes only and does not purport to be indicative of what would have resulted had the disposition occurred on the date indicated or what may result in the future. The unaudited pro forma consolidated balance sheet assumes the disposition closed on March 31, 2026. The unaudited pro forma consolidated statements of operations for the year ended December 31, 2025, and the three months ended March 31, 2026, assumes the disposition closed on January 1, 2025. The unaudited pro forma financial information of the Company reflects the removal of the assets and liabilities of Sheraton San Diego and its results of operations, which contains a non-recurring gain associated with the disposition of the hotel property. The pro forma gain and the related tax effects resulting from the disposition of Sheraton San Diego are preliminary. Therefore, the actual results may differ from the amounts reflected in the pro forma financial statements. There are no other non-recurring items associated with the transaction.


ASHFORD HOSPITALITY TRUST, INC. AND SUBSIDIARIES
UNAUDITED PRO FORMA CONDENSED CONSOLIDATED BALANCE SHEET
March 31, 2026
(in thousands, except share and per share amounts) 
Ashford Trust Consolidated
Historical (A)
Sheraton
San Diego (B)
AdjustmentsAshford Trust
Consolidated
Pro Forma
ASSETS
Investments in hotel properties, gross ($82,787 attributable to VIEs)$2,617,922 $56,864 $— $2,561,058 
Accumulated depreciation ($(6,594) attributable to VIEs)(810,924)(20,101)— (790,823)
Investments in hotel properties, net ($76,193 attributable to VIEs)1,806,998 36,763 — 1,770,235 
Contract asset335,979 — — 335,979 
Cash and cash equivalents ($1,011 attributable to VIEs)78,042 324 44,964 (C) (i)81,979 
(4,831)(C) (i)
(35,872)(C) (ii)
Restricted cash ($4,203 attributable to VIEs)141,203 — — 141,203 
Accounts receivable ($170 attributable to VIEs), net of allowance of $43543,426 694 — 42,732 
Inventories ($34 attributable to VIEs)3,106 53 — 3,053 
Notes receivable, net12,486 — — 12,486 
Investments in unconsolidated entities7,063 — — 7,063 
Deferred costs, net ($79 attributable to VIEs)1,210 — — 1,210 
Derivative assets1,212 — — 1,212 
Operating lease right-of-use assets41,035 — — 41,035 
Prepaid expenses and other assets ($153 attributable to VIEs)53,235 303 — 52,932 
Due from third-party hotel managers24,535 — — 24,535 
Assets held for sale55,779 — — 55,779 
Total assets$2,605,309 $38,137 $4,261 $2,571,433 
LIABILITIES AND EQUITY/DEFICIT
Liabilities:
Indebtedness, net ($15,910 attributable to VIEs)$2,287,163 $32,092 $(3,044)(C) (ii)$2,252,027 
Debt associated with hotels in receivership252,000 — — 252,000 
Finance lease liability17,417 — — 17,417 
Accounts payable and accrued expenses ($15,427 attributable to VIEs)140,837 5,411 — 135,426 
Accrued interest payable ($151 attributable to VIEs)31,787 125 — 31,662 
Accrued interest associated with hotels in receivership83,979 — — 83,979 
Dividends and distributions payable4,247 — — 4,247 
Due to Ashford Inc., net65,638 — — 65,638 
Due to related parties, net ($3,517 attributable to VIEs)12,319 669 — 11,650 
Due to third-party hotel managers1,306 — — 1,306 
Operating lease liabilities44,042 — — 44,042 
Other liabilities ($28,919 attributable to VIEs)36,695 — — 

36,695 
Liabilities related to assets held for sale66,613 — — 66,613 
Total liabilities3,044,043 38,297 (3,044)3,002,702 
Commitments and contingencies
Redeemable noncontrolling interests in operating partnership19,945 — — 19,945 
Series J Redeemable Preferred Stock, $0.01 par value, 7,684,197 shares issued and outstanding at March 31, 2026183,655 — — 183,655 
Series K Redeemable Preferred Stock, $0.01 par value, 731,102 shares issued and outstanding at March 31, 202618,591 — — 18,591 
Series L Redeemable Preferred Stock, $0.01 par value, 238,191 shares issued and outstanding at March 31, 20265,547 — — 5,547 
Series M Redeemable Preferred Stock, $0.01 par value, 550,888 shares issued and outstanding at March 31, 202613,831 — — 13,831 
Equity (deficit):
Preferred stock, $0.01 par value, 55,000,000 shares authorized:
Series D Cumulative Preferred Stock, 1,111,127 shares issued and outstanding at March 31, 202611 — — 11 
Series F Cumulative Preferred Stock, 1,037,044 shares issued and outstanding at March 31, 202610 — — 10 
Series G Cumulative Preferred Stock, 1,470,948 shares issued and outstanding at March 31, 202615 — — 15 
Series H Cumulative Preferred Stock, 1,037,956 shares issued and outstanding at March 31, 202610 — — 10 
Series I Cumulative Preferred Stock, 1,034,303 shares issued and outstanding at March 31, 202611 — — 11 
Common stock, $0.01 par value, 395,000,000 shares authorized, 6,476,491 shares issued and outstanding at March 31, 202665 — — 65 
Additional paid-in capital2,402,044 (160)36,763 (C) (i)2,402,044 
(4,831)(C) (i)
(32,092)(C) (ii)
Accumulated deficit(3,097,325)— 8,201 (C) (i)(3,089,860)
(736)(C) (ii)
Total stockholders’ equity (deficit) of the Company(695,159)(160)7,305 (687,694)
Noncontrolling interest in consolidated entities14,856 — — 14,856 
Total equity (deficit)(680,303)(160)7,305 (672,838)
Total liabilities and equity/deficit$2,605,309 $38,137 $4,261 $2,571,433 
See accompanying notes.
2

NOTES TO UNAUDITED PRO FORMA CONDENSED CONSOLIDATED BALANCE SHEET
(A)Represents the historical consolidated balance sheet of Ashford Trust as of March 31, 2026, as reported in its Quarterly Report on Form 10-Q, filed on May 14, 2026.
(B)Represents the removal of the historical balance sheet of Sheraton San Diego as of March 31, 2026.
(C)Represents adjustments for Ashford Trust’s disposition of Sheraton San Diego as of March 31, 2026, which includes: (i) an adjustment for the cash consideration received of approximately $45.0 million, net of selling expenses and cash paid for hotel net working capital and (ii) the cash paid to repay the mortgage loan partially secured by Sheraton San Diego.
3

ASHFORD HOSPITALITY TRUST, INC. AND SUBSIDIARIES
UNAUDITED PRO FORMA CONSOLIDATED STATEMENT OF OPERATIONS
Year Ended December 31, 2025
(in thousands, except per share amounts)
Ashford Trust Consolidated
Historical (A)		Sheraton
San Diego (B)		AdjustmentsAshford Trust
Consolidated
Pro Forma
REVENUE
Rooms$825,623 $13,096 $— $812,527 
Food and beverage207,588 1,416 — 206,172 
Other hotel revenue69,643 753 — 68,890 
Total hotel revenue1,102,854 15,265 — 1,087,589 
Other1,534 — — 1,534 
Total revenue1,104,388 15,265 — 1,089,123 
EXPENSES
Hotel operating expenses:
Rooms198,106 3,304 — 194,802 
Food and beverage139,828 1,315 — 138,513 
Other expenses392,070 5,604 — 386,466 
Management fees38,264 455 — 37,809 
Total hotel expenses768,268 10,678 — 757,590 
Property taxes, insurance and other59,793 654 — 59,139 
Depreciation and amortization141,295 1,667 — 139,628 
Impairment charges67,648 — — 67,648 
Advisory services fee49,039 — — 49,039 
Corporate, general and administrative20,783 — — 20,783 
Total operating expenses1,106,826 12,999 — 1,093,827 
Gain (loss) on consolidation of VIE and disposition of assets and hotel properties
79,799 — 8,201 (C) (i)88,000 
Gain (loss) on derecognition of assets39,054 — — 39,054 
OPERATING INCOME (LOSS)116,415 2,266 8,201 122,350 
Equity in earnings (loss) of unconsolidated entities(325)— — (325)
Interest income4,739 — — 4,739 
Interest expense and amortization of discounts and loan costs(256,229)(3,405)— (252,824)
Interest expense associated with hotels in receivership(39,038)— — (39,038)
Write-off of premiums, loan costs and exit fees(8,853)(182)(736)
(C) (ii)
(9,407)
Gain (loss) on extinguishment of debt335 — — 335 
Realized and unrealized gain (loss) on derivatives(5,346)— — (5,346)
INCOME (LOSS) BEFORE INCOME TAXES(188,302)(1,321)7,465 (179,516)
Income tax (expense) benefit143 — — 143 
NET INCOME (LOSS)(188,159)(1,321)7,465 (179,373)
(Income) loss attributable to noncontrolling interest in consolidated entities5,058 — — 5,058 
Net (income) loss attributable to redeemable noncontrolling interests in operating partnership3,262 — (126)(C) (iv)3,136 
NET INCOME (LOSS) ATTRIBUTABLE TO THE COMPANY(179,839)(1,321)7,339 (171,179)
Preferred dividends(28,216)— — (28,216)
Deemed dividends on redeemable preferred stock(6,949)— — (6,949)
NET INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCKHOLDERS$(215,004)$(1,321)$7,339 $(206,344)
INCOME (LOSS) PER SHARE - BASIC:
Net income (loss) attributable to common stockholders$(35.99)$(34.54)
Weighted average common shares outstanding—basic5,974 5,974 
INCOME (LOSS) PER SHARE - DILUTED:
Net income (loss) attributable to common stockholders$(35.99)$(34.54)
Weighted average common shares outstanding—diluted5,974 5,974 
See accompanying notes.
4

ASHFORD HOSPITALITY TRUST, INC. AND SUBSIDIARIES
UNAUDITED PRO FORMA CONSOLIDATED STATEMENT OF OPERATIONS
Three Months Ended March 31, 2026
(in thousands, except per share amounts)
Ashford Trust Consolidated
Historical (A)		Sheraton
San Diego (B)		AdjustmentsAshford Trust
Consolidated
Pro Forma
REVENUE
Rooms$200,025 $2,977 $— $197,048 
Food and beverage51,570 351 — 51,219 
Other hotel revenue15,983 219 — 15,764 
Total hotel revenue267,578 3,547 — 264,031 
Other154 — — 154 
Total revenue267,732 3,547 — 264,185 
EXPENSES
Hotel operating expenses:
Rooms46,190 732 — 45,458 
Food and beverage34,383 414 — 33,969 
Other expenses91,273 1,364 — 89,909 
Management fees9,284 106 — 9,178 
Total hotel expenses181,130 2,616 — 178,514 
Property taxes, insurance and other14,894 127 — 14,767 
Depreciation and amortization32,006 513 — 31,493 
Impairment charges112,649 — — 112,649 
Advisory services fee20,023 — — 20,023 
Corporate, general and administrative1,602 — — 1,602 
Total operating expenses362,304 3,256 — 359,048 
Gain (loss) on disposition of assets and hotel properties100,030 — — 100,030 
Gain (loss) on derecognition of assets7,790 — — 7,790 
OPERATING INCOME (LOSS)13,248 291 — 12,957 
Equity in earnings (loss) of unconsolidated entities(202)— — (202)
Interest income922 — — 922 
Other income (expense)3,223 — — 3,223 
Interest expense and amortization of discounts and loan costs(73,554)(868)— (72,686)
Interest expense associated with hotels in receivership(7,820)— — (7,820)
Write-off of premiums, loan costs and exit fees(1,254)— — (1,254)
Gain (loss) on extinguishment of debt(25)— — (25)
Realized and unrealized gain (loss) on derivatives757 — — 757 
INCOME (LOSS) BEFORE INCOME TAXES(64,705)(577)— (64,128)
Income tax (expense) benefit(752)— 26 (C) (iii)(726)
NET INCOME (LOSS)(65,457)(577)26 (64,854)
(Income) loss attributable to noncontrolling interest in consolidated entities655 — — 655 
Net (income) loss attributable to redeemable noncontrolling interests in operating partnership1,030 — (9)(C) (iv)1,021 
NET INCOME (LOSS) ATTRIBUTABLE TO THE COMPANY(63,772)(577)17 (63,178)
Preferred dividends(2,714)— — (2,714)
Deemed dividends on redeemable preferred stock(4,600)— — (4,600)
NET INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCKHOLDERS$(71,086)$(577)$17 $(70,492)
INCOME (LOSS) PER SHARE - BASIC:
Income (loss) attributable to common stockholders$(11.03)$(10.94)
Weighted average common shares outstanding—basic6,442 6,442 
INCOME (LOSS) PER SHARE - DILUTED:
Income (loss) attributable to common stockholders$(11.03)$(10.94)
Weighted average common shares outstanding—diluted6,442 6,442 
See accompanying notes.
5

NOTES TO UNAUDITED PRO FORMA CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS
(A)Represents the historical consolidated statement of operations of Ashford Trust for the year ended December 31, 2025, as reported in its Annual Report on Form 10-K for the year ended December 31, 2025, filed on March 23, 2026 and the historical consolidated statement of operations of Ashford Trust for the three months ended March 31, 2026, as reported in its Quarterly Report on Form 10-Q for the three months ended March 31, 2026, filed on May 14, 2026.
(B)Represents the removal of the historical consolidated statements of operations of Sheraton San Diego for the year ended December 31, 2025 and the three months ended March 31, 2026.
(C)Represents adjustments for the Company’s sale of Sheraton San Diego, which includes: (i) the estimated non-recurring gain on the disposition of Sheraton San Diego for the year ended December 31, 2025; (ii) an adjustment for write off of loan costs; (iii) an adjustment for the estimated tax effect of the hotel no longer being part of the consolidated group for the three months ended March 31, 2026; and (iv) the net (income) loss allocated to redeemable noncontrolling interests in operating partnership related to the disposition of Sheraton San Diego, including the estimated non-recurring gain for the year ended December 31, 2025, based on an ownership percentage of 1.43% for the year ended December 31, 2025 and 1.43% for the three months ended March 31, 2026. There was no material estimated tax effect of the hotel no longer being part of the consolidated group for the year ended December 31, 2025. The pro forma gain resulting from the disposition of Sheraton San Diego is preliminary. The actual results may differ from the amounts reflected in the pro forma financial statements.
6

Source: View Original Filing on SEC EDGAR

FAQ

What asset did Ashford Hospitality Trust (AHT) sell in this 8-K?

Ashford Hospitality Trust sold the 260-room Sheraton San Diego Mission Valley hotel in San Diego, California. The sale removes that property’s assets, liabilities, revenue, and expenses from the company’s consolidated financial statements on a pro forma basis.

How much did Ashford Hospitality Trust (AHT) receive from the Sheraton San Diego sale?

The Sheraton San Diego Mission Valley was sold for approximately $45.3 million in cash, with net consideration of about $45.0 million after selling expenses and working-capital items. These figures reflect the transaction value used in the pro forma financial information.

How were the sale proceeds from the Sheraton San Diego used by Ashford Hospitality Trust (AHT)?

Ashford Hospitality Trust paid approximately $35.9 million to the mortgage lender using sale proceeds. The mortgage loan is secured by 15 hotels, including the Sheraton San Diego, so this payment reduces debt associated with a broader hotel portfolio, not just the sold property.

How does the Sheraton San Diego sale affect Ashford Hospitality Trust’s (AHT) 2025 pro forma results?

For 2025, pro forma net loss attributable to common stockholders improves from $215,004,000 to $206,344,000. This reflects removing Sheraton San Diego’s operations, recognizing a preliminary non-recurring gain on the sale, and adjusting interest and loan-cost write-offs tied to the related debt.

What is shown in Ashford Hospitality Trust’s (AHT) pro forma balance sheet after the hotel sale?

The pro forma balance sheet as of March 31, 2026 removes Sheraton San Diego’s assets and liabilities, adds about $45.0 million of net cash consideration, and reflects the $35.9 million mortgage repayment. Total pro forma assets decrease slightly to $2,571,433,000 from $2,605,309,000 historically.

Is the gain on the Sheraton San Diego sale final in Ashford Hospitality Trust’s (AHT) pro forma data?

The pro forma statements include an estimated non-recurring gain on disposition and related tax effects, but management states these amounts are preliminary. The actual gain and impacts may differ once all transaction details and tax consequences are finalized in future reporting periods.

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