Ashford Hospitality Trust, Inc. (NYSE: AHT) has signed a definitive agreement to sell the 150-room Residence Inn San Diego Sorrento Mesa for $42.0 million.
The sale is expected to be completed in October 2025, subject to normal closing conditions.
The capitalization rate on net operating income is 5.7% or a multiple of 15.3 times Hotel EBITDA after adjusting for anticipated capital expenditures.
Sale Agreement Signed
Definitive agreement to sell the Residence Inn San Diego Sorrento Mesa for $42.0 million.
Expected Completion
Sale expected to be completed in October 2025, pending normal closing conditions.
Financial Impact
Capitalization rate on net operating income is 5.7%, multiple of 15.3 times Hotel EBITDA after adjusting for anticipated capital expenditures.
- The sale of the hotel reflects the Company's strategy to deleverage its portfolio and create shareholder value.
- President and CEO Stephen Zsigray stated that the transaction enhances the Company's financial flexibility moving forward.
Ashford Hospitality Trust's sale of the Residence Inn San Diego Sorrento Mesa is in line with its strategic goals to reduce debt and increase financial flexibility. The Company remains focused on creating value for its shareholders through strategic transactions.