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Stock Market & Financial Investment News

News Breaks
December 24, 2012
08:01 EDTAHTAshford Hospitality appoints Monty Bennett as Chairman of the board
Bennett will replace Archie Benett, who will retire on January 18, 2013. On January 19, 2013, Bennett will assume the role of Chairman Emeritus and advisor of the company. Monty Bennett has served as director and CEO of the company since 2003.
News For AHT From The Last 14 Days
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February 26, 2015
16:26 EDTAHTAshford Hospitality reports Q4 adjusted FFO 17c, consensus 13c
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08:20 EDTAHTAshford Hospitality completes acquisition of Marriott Memphis East for $43.5M
Ashford Hospitality (AHT) has completed the previously-announced acquisition of the 232-room Marriott (MAR) Memphis East hotel for total consideration of $43.5M in cash, or $187,500 per key. The company intends to finance the property with approximately $33.3M of non-recourse mortgage debt. On a forward 12-month basis, the purchase price represents an estimated cap rate of 8.6% on net operating income and an estimated 10.3x forward EBITDA multiple. The Marriott Memphis East is in excellent physical condition with virtually no capex needs as the hotel recently completed an extensive renovation.

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