Ashford Hospitality Trust filings document the reporting obligations of a Maryland hotel REIT with direct investments in upper upscale, full-service hotels. Its 8-K filings record completed hotel dispositions, related pro forma financial information, material agreements with its operating partnership, Ashford TRS Corporation and Ashford-affiliated advisor, and capital-structure matters involving common stock and Series D, F, G, H, I, J, K, L and M preferred stock.
Proxy statements cover board elections, executive compensation, shareholder voting matters and governance practices. Other filings address preferred-stock valuation disclosures, operating and financial results, and the advisory framework that connects the company, Ashford Hospitality Limited Partnership, Ashford TRS Corporation, Ashford Inc. and Ashford Hospitality Advisors LLC.
Ashford Hospitality Trust files its annual report describing a highly leveraged hotel REIT facing significant financial pressure. The company owns 68 upper-upscale U.S. hotels with 16,633 rooms, held mainly through a taxable REIT subsidiary structure and managed largely by Remington Hospitality and other brands.
As of December 31, 2025, Ashford reported $66.8 million in cash, $149.6 million in restricted cash and approximately $2.6 billion of property-level debt, including $2.4 billion of variable-rate debt and $1.9 billion maturing within one year. Stockholders’ equity showed a deficit of about $626.4 million, leading auditors to raise substantial doubt about the company’s ability to continue as a going concern.
The company has not paid common stock dividends since 2015 and does not expect to pay common dividends in 2026. Preferred dividends were suspended, including amounts declared for payment on January 15, 2026, which the company intends to pay when reasonably practicable. To help preserve tax attributes, Ashford adopted a shareholder rights plan in December 2025 that is triggered at 4.99% beneficial ownership of certain securities and is designed to protect its tax benefits.
Ashford Hospitality Trust, Inc. files a Prospectus Supplement No. 24 registering 11,200,000 shares of Series L Redeemable Preferred Stock and 4,800,000 shares of Series M Redeemable Preferred Stock with a liquidation preference of $25.00 per share.
The supplement incorporates a Form 8-K dated March 17, 2026 reporting completion of the sale of La Posada de Santa Fe for $57.5 million in cash, subject to customary pro-rations and adjustments, and attaches unaudited pro forma financial information as Exhibit 99.1.
Ashford Hospitality Trust, through its subsidiary Ashford Posada LP, completed the sale of the 157-room La Posada de Santa Fe hotel in New Mexico. The property was sold for $57.5 million in cash, with approximately $56.8 million received net of selling expenses and working capital.
The company used about $56.0 million of the proceeds to repay a mortgage loan secured by La Posada and another hotel. Unaudited pro forma financials show La Posada’s assets, liabilities, revenue and expenses removed, along with a preliminary non‑recurring gain and related tax effects from the disposition.
Ashford Hospitality Trust filed a Prospectus Supplement No. 23 registering 11,200,000 shares of Series L Redeemable Preferred Stock and 4,800,000 shares of Series M Redeemable Preferred Stock, each with a liquidation preference of $25.00 per share.
The Supplement incorporates a Form 8-K dated March 17, 2026 that discloses a Limited Waiver Under Advisory Agreement permitting the company to award cash incentive compensation during the first and second fiscal quarters of 2026 and the adoption of a Form of 2026 Deferred Cash Award. The Supplement updates and supplements the Prospectus dated February 7, 2025.
Ashford Hospitality Trust, Inc. entered into a Limited Waiver under its Advisory Agreement with its operating partnership, TRS, Ashford Inc., and Ashford Hospitality Advisors LLC. The waiver allows the company, at its own cost and expense, to grant cash incentive compensation to employees and other representatives of the advisor during the first and second fiscal quarters of 2026, without being limited by certain provisions in the existing Advisory Agreement.
The company also adopted a Form of 2026 Deferred Cash Award Agreement, which sets the framework for deferred cash awards. These actions refine how Ashford Hospitality Trust can compensate advisor-affiliated personnel through both near-term cash incentives and deferred cash awards.
Ashford Hospitality Trust registers 11,200,000 Series L and 4,800,000 Series M redeemable preferred shares. The supplement to the prospectus dated February 7, 2025 states the Series M has a liquidation preference of $25.00 per share. The Supplement incorporates a Form 8-K disclosing the March 5, 2026 sale of the Hilton St. Petersburg Bayfront for $96 million, subject to customary pro-rations and adjustments.
The Supplement notes liquidity risk for the preferred stock and that the securities are not rated. The unaudited pro forma financial information for specified periods is filed as Exhibit 99.1.
Ashford Hospitality Trust completed the sale of the 333-room Hilton St. Petersburg Bayfront on March 5, 2026. An indirect subsidiary sold the hotel for $96 million in cash, while the company reports total consideration of approximately $95.3 million net of selling expenses and working-capital adjustments.
Ashford used approximately $94.7 million of the proceeds to repay a mortgage loan secured by 12 hotels, materially reducing secured debt on its balance sheet. Unaudited pro forma 2024 results show net loss attributable to common stockholders improving from $82.5 million to about $5.3 million, largely due to a non-recurring gain on the disposition. For the nine months ended September 30, 2025, pro forma net loss attributable to common stockholders changes modestly, from $136.7 million to about $137.6 million, as the gain is not reflected in that period.
Ashford Hospitality Trust, Inc. reported that Deric Eubanks will voluntarily leave his roles as Chief Financial Officer of its advisor affiliates, the Company, and Braemar Hotels & Resorts effective March 31, 2026. Justin Coe, currently Chief Accounting Officer, will become the Company’s principal financial officer on that date.
Under a Release and Waiver, Eubanks receives continued salary and benefits through March 31, 2026, a $1,796,000 non‑compete payment in 12 monthly installments, eligibility for a 2025 cash bonus, continued vesting of deferred cash awards totaling $3,316,223, and a separate $200,000 transition payment for part‑time support through June 30, 2026. In return, he provides broad legal releases, agrees to non‑competition, non‑solicitation, standstill, consulting and non‑disparagement obligations for up to 24 months.
Ashford Hospitality Trust CFO Deric S. Eubanks reported several equity award updates. He forfeited 3,560 Performance Stock Units (2023) after certain performance criteria were not met, and the remaining 836 units were exercised and converted into 836 shares of common stock at a stated price of $0.00 per share.
To cover tax-withholding obligations tied to dividend equivalents and vesting of prior awards, 204 common shares were forfeited back to the company at $2.85 per share, leaving 3,820 common shares held directly. He also holds 5,795 special long-term incentive partnership units indirectly through DESE II LLC, 111.6 common limited partnership units, and 2 common shares indirectly through his spouse’s IRA, which are convertible into common stock as described.
Ashford Hospitality Trust director Monty J. Bennett reported multiple partnership-unit and stock transactions on February 24, 2026, largely through affiliated entities. Texas Yarrow LLC forfeited 20,174.50 Performance LTIP Units from a 2023 award after performance criteria were not met, leaving 1,660 such units that were then exercised and converted into Special Limited Partnership Units.
Footnotes explain that Special and Common Limited Partnership Units in the operating partnership can be redeemed for cash or, at the issuer’s option, converted into common stock on a 1-for-1 basis. On that date, 471.6 Common Limited Partnership Units were redeemed by the issuer for 471 shares of common stock, held indirectly via Ashford Financial Corporation, reflecting only Bennett’s pecuniary interest in those shares.