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Beverly Hills Marriott Debuts After $26 Million Renovation

Beverly Hills Marriott Debuts After $26 Million Renovation

Ashford Hospitality Trust has completed the conversion of the 260-room Beverly Hills Marriott, formerly the Crowne Plaza Beverly Hills. The rebranding follows an extensive $26 million renovation of all guest rooms and public space, as well as exterior enhancements. The ...

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Ashford Acquires W Atlanta Downtown for $56.8 Million

Ashford Acquires W Atlanta Downtown for $56.8 Million

Ashford Hospitality Trust has completed the previously-announced acquisition of the 237-room W Atlanta Downtown hotel for total consideration of $56.8 million ($239,000 per key). The purchase price represents an estimated forward 12-month cap rate of 7.2 percent on net operating ...

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Ashford Trust to Sell Select-Service Hotel Portfolio

Ashford Trust to Sell Select-Service Hotel Portfolio

Ashford Hospitality Trust is selling a portfolio of 23 select-service hotels that are mostly brand-managed and intends to sell its remaining select-service hotels in the future. The company will redefine its investment strategy to focus predominately on upper upscale, full-service ...

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Ashford Trust to Acquire Nine-Hotel Portfolio for $224M

Ashford Trust to Acquire Nine-Hotel Portfolio for $224M

Ashford Hospitality Trust has signed a definitive agreement to acquire a nine-hotel portfolio for total consideration of $224 million in cash ($179,000 per key). The company anticipates financing the portfolio with non-recourse debt of approximately $179 million. Upon closing, all ...

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Ashford Increases Assets Under Management by $360M

Ashford Increases Assets Under Management by $360M

Ashford Hospitality Trust has completed its previously-announced acquisition of the remaining 28.26 percent ownership interest of the Highland Hospitality portfolio from its joint venture partner, increasing its assets under management by approximately $360 million. The purchase price of $250.1 million ...

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