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 reviewed its fourth-quarter and full-year 2025 results, highlighting a strategic review, significant asset sales, and ongoing balance sheet challenges. The company reported a 2025 net loss attributable to common stockholders of $(215.0) million, or $(35.99) per diluted share, and negative AFFO of $(5.66) per diluted share. Adjusted EBITDAre was $221.3 million for the year.
Management estimates its GRO AHT initiatives added over $40 million of EBITDA in 2025, including more than $13 million of corporate G&A savings. Six hotel sales generated about $145 million in proceeds at a blended 3.9% trailing cap rate and eliminated nearly $50 million of anticipated capital expenditures, improving annualized portfolio cash flow after debt service by roughly $5 million.
The company also agreed to sell three additional hotels for a combined $194.5 million at a blended 6.9% trailing cap rate, expected to avoid another $45 million of capital expenditures. However, it disclosed a maturity default on a $325 million JPM8 mortgage secured by eight hotels. Ashford ended the year with $2.6 billion of debt at a 7.7% blended rate, $66.8 million of cash and cash equivalents, and net working capital of about $103.2 million, and continues to evaluate strategic alternatives through a Special Committee.
Ashford Hospitality Trust, Inc. registers preferred shares via a prospectus supplement. The supplement, dated February 25, 2026, updates the prospectus to register 11,200,000 shares of Series L Redeemable Preferred Stock and 4,800,000 shares of Series M Redeemable Preferred Stock with a stated liquidation preference of $25.00 per share.
The Supplement incorporates a Form 8-K filed February 25, 2026 attaching the Company’s fourth quarter 2025 earnings press release as Exhibit 99.1. The disclosure notes the Preferred Stock has no public trading market and limited liquidity.
Ashford Hospitality Trust reported a challenging 2025 with continued losses and high leverage while beginning a strategic review. For the full year, net loss attributable to common stockholders was $215.0 million, or $35.99 per diluted share, while adjusted EBITDAre reached $221.3 million and adjusted FFO was a loss of $5.66 per diluted share.
Comparable RevPAR for 2025 dipped 0.7% to $132, driven by lower room rates partly offset by slightly higher occupancy. The company ended the year with total assets of $2.83 billion, total liabilities of $3.21 billion, indebtedness of $2.57 billion at a blended 7.7% rate, and a reported stockholders’ equity deficit of $626.4 million.
Management is pursuing asset sales and balance sheet repair. During the quarter it sold one hotel, signed definitive agreements to sell two more, and expects about $69.5 million of gross proceeds from these sales, along with over $2 million in anticipated annual cash flow improvement and $14.5 million in future capital expenditure savings. A large mortgage secured by 18 hotels was extended to a final maturity date in July 2026 after a $10 million paydown.
The board formed a Special Committee to evaluate strategic alternatives “including a potential transaction.” In connection with this, the company terminated the current offering of its Series L and M non-traded preferred stock and suspended redemptions for all outstanding non-traded preferred stock. No dividend was paid on common stock for the fourth quarter of 2025.
Ashford Hospitality Trust, Inc. registers 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 an attached Form 8-K dated February 24, 2026 that discloses the retirement of director Sonny Sra for health reasons and a board-adopted bylaw amendment reducing the quorum for the 2026 annual meeting to at least one-third of votes entitled to be cast, effective February 24, 2026.
Ashford Hospitality Trust, Inc. reported two governance updates. Effective February 24, 2026, director Sonny Sra retired from the Board for health reasons, and the Board expressed appreciation for his service.
The Board also adopted a bylaw amendment that lowers the quorum requirement solely for the 2026 annual stockholder meeting from a majority to at least one-third of all votes entitled to be cast, as allowed under Maryland law. The change responds to more retail shareholders and broker policies limiting discretionary voting, and is intended to help ensure the 2026 meeting can be held.
Ashford Hospitality Trust outlined several hotel asset sales that support its plan to reduce debt, boost liquidity, and improve cash flow. The company signed definitive agreements to sell La Posada de Santa Fe Resort & Spa for $57.5 million and the 333-room Hilton St. Petersburg Bayfront for $96 million, both expected to close in March 2026 subject to normal conditions. It also closed the previously announced sales of two Embassy Suites hotels totaling 300 rooms, generating $27 million in gross proceeds. Across all four sales, the company cites more than $2 million in expected annual cash flow improvement and $55.5 million in future capital expenditure savings, reflecting strong buyer demand and management’s focus on deleveraging.
Ashford Hospitality Trust, Inc. files a prospectus supplement registering 11,200,000 shares of Series L redeemable preferred stock and 4,800,000 shares of Series M redeemable preferred stock (liquidation preference $25.00 per share).
The supplement attaches a Form 8-K disclosing a December 12, 2025 agreement to sell the Hilton St. Petersburg Bayfront for $96,000,000 in cash; the purchaser deposited an initial earnest money deposit of $500,000 that became non‑refundable on February 20, 2026 and an additional deposit of $1,900,000 is due within three business days. The sale is expected to close in the first quarter of 2026, subject to customary closing conditions.
Ashford Hospitality Trust filed a Prospectus Supplement No. 18 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 filing also attaches a Form 8-K disclosing that an indirect subsidiary completed the sale of the Embassy Suites Austin in Austin, Texas for $13.5 million in cash on February 17, 2026, subject to customary proration and adjustments. The supplement updates the prospectus dated February 7, 2025.
Ashford Hospitality Trust, Inc. has entered into an Agreement of Purchase and Sale to sell the Hilton St. Petersburg Bayfront hotel in Florida to Kolter Group Acquisitions LLC for $96 million in cash, subject to customary prorations and adjustments. An initial earnest money deposit of $500,000 has been placed in escrow and became non‑refundable after the purchaser delivered a Notice to Proceed on February 20, 2026. An additional earnest money deposit of $1,900,000 is due within three business days, and both deposits will be credited to the purchase price if the transaction closes. The sale is expected to close in the first quarter of 2026, but completion remains subject to customary closing conditions and is not assured.
Ashford Hospitality Trust completed the sale of the Embassy Suites Austin in Austin, Texas. An indirect subsidiary sold the hotel for $13.5 million in cash, subject to customary prorations and adjustments, under a purchase and sale agreement dated November 11, 2025.
Exhibit 99.1 explains that the 150-room hotel generated total consideration of approximately $13.2 million in cash, net of selling expenses, and the company paid approximately $13.0 million to the mortgage lender on a loan secured by 13 hotels. Unaudited pro forma financial statements remove the Embassy Suites Austin’s assets, liabilities, and results, and include a preliminary non-recurring gain from the disposition for the 2024 and nine‑month 2025 periods.