Ashford Hospitality Trust

Hotel REIT (Hospitality Real Estate)ahtreit.com

Ashford Hospitality Trust is a publicly traded, externally advised REIT (NYSE: AHT) that owns a portfolio of 68 upper upscale U.S. hotels operated under major brands, currently executing an aggressive deleveraging program amid severe financial distress.

Company typePublic
Founded2003
HeadquartersDallas, United States
Headcount51–100
GTM typeB2B
OfferingServices

What Ashford Hospitality Trust does

Ashford Hospitality Trust, Inc. (NYSE: AHT) is a Dallas, Texas-based real estate investment trust that invests predominantly in upper upscale, full-service and select-service hotels across the United States. Founded in 2003 and externally advised by Ashford Inc. — a separate publicly traded company led by founder Monty J. Bennett — the company operated a geographically diversified portfolio of approximately 68 U.S. hotels as of early 2026, affiliated with major brands including Hilton, Marriott, Hyatt, and IHG. The company went public in 2003 and is incorporated in Maryland.

AHT generates revenue primarily through ownership interests in hotel properties, with income derived from hotel operations and asset appreciation. The company historically pursued total-return optimization via value-enhancing approaches to transactions, asset management, and capital markets initiatives. However, the business is currently in severe financial distress: it carries approximately $2.6 billion in mortgage debt at elevated rates, has defaulted on a $325 million loan, reports a current ratio of 0.28, posted full-year 2025 net losses of $215 million, and has a market capitalization of only ~$20 million. The company has suspended preferred dividends across nine series, formed a special committee to evaluate strategic alternatives, and is actively divesting hotels — with $252.5 million in gross proceeds from four completed sales and another ~$54.8 million under agreement — to reduce leverage and enhance liquidity. As of mid-2026, 18 additional properties were being actively marketed for sale, while leadership transitions (CFO Deric Eubanks' retirement, board member Sonny Sra's death) further underscore the company's transitional state.

Ashford Hospitality Trust firmographics

Firmographics

Name: Ashford Hospitality Trust
Legal name: Ashford Hospitality Trust, Inc.
Website: https://ahtreit.com
Company type: Public
Founded year: 2003
Operating status: Operating
Headcount range: 51–100 employees
Short description: Ashford Hospitality Trust is a publicly traded, externally advised REIT (NYSE: AHT) that owns a portfolio of 68 upper upscale U.S. hotels operated under major brands, currently executing an aggressive deleveraging program amid severe financial distress.
Ownership category
akta.pro rank

Ashford Hospitality Trust industry classification

Industry

Product category: Hotel REIT (Hospitality Real Estate)
NAICS: Funds, Trusts, and Other Financial Vehicles (525), Portfolio Management and Investment Advice (52394)
SIC: Real Estate Investment Trusts (6798), Hotels & Motels (7011), Real Estate Dealers (For Their Own Account) (6532)
akta.pro primary industry: Hospitality (Hotels & Resorts) Asset Management (BPAJAMAE)
akta.pro secondary industries: Hospitality Brokerage (BPAJABAE), Real Estate Investment Advisory (Acquisitions/Dispositions, Capital Allocation) (BPAJANAA)

Keywords

Hotel REIT
Hospitality real estate
Upper upscale hotels
Full-service hotels
Lodging investment trust

Where Ashford Hospitality Trust is headquartered

Location

Headquarters

HQ city: Dallas
HQ country: United States
HQ region: North America

Offices1 record

Markets served

Ashford Hospitality Trust business model

Business model

GTM type: B2B
Offering type: Services
Cost components: Operations, Infrastructure, Supply Chain, Personnel, Technology or R&D

Revenue model

Hotel ownership and investment: As a REIT, Ashford Hospitality Trust generates revenue primarily through ownership interests in hotel properties. The company earns income from hotel operations and seeks to optimize total returns through value-enhancing approaches to transactions, asset management, and capital market initiatives.
Asset dispositions: The company sells hotel assets to reduce leverage and enhance cash flow. Proceeds from sales are primarily used to pay down mortgage debt.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Ashford Hospitality Trust product offering

Product offering

Core offering

Ashford Hospitality Trust is a publicly traded real estate investment trust (NYSE: AHT) that invests in a geographically diversified portfolio of predominantly upper upscale, full-service and select-service hotels across the United States. The company earns revenue from hotel operations owned directly through subsidiary entities and applies value-enhancing approaches to transactions, asset management, and capital market initiatives to optimize total returns.

Product overview

Ashford Hospitality Trust is a REIT that operates a portfolio of primarily dominant branded upper upscale full-service and select-service hotels. The company does not offer a unified software product or platform; instead, its 'products' consist of its hotel properties under management. The hotel portfolio includes branded properties under Hilton, Marriott, Hyatt, IHG, and other major hotel brands, with properties located across multiple U.S. states. The company also maintains hotels under development.

Differentiator

Problem solved

Functional benefit

Products and services

Hotel Portfolio (Upper Upscale Full-Service and Select-Service Hotels) A geographically diversified portfolio of 68 U.S. hotels (as of early 2026) operated under major hospitality brands including Hilton, Marriott, Hyatt, and IHG. The company is also actively marketing 18 additional properties for sale.
Hotels Under Development Pipeline of hotel properties under development, including properties such as The Churchill in Washington D.C., Courtyard, Embassy Suites, Hampton Inn, and Hilton branded select-service and full-service hotels.

Quantifiable outcome

$252.5 million in gross proceeds from asset dispositions
+2 more outcomes

Companies that use Ashford Hospitality Trust

Customer profile

Segments2 records

Ideal customer profiles2 records

Ashford Hospitality Trust technology and API

Technology

Technology focussed No

API detail

Has API: No
API docs
API detail

Core technology

AI maturity

App detail

Ashford Hospitality Trust partnerships and signals

Strategic signal

Partnerships

One partnership is on record.

Ashford Inc.coreOthers · 9 April 2026Ashford Hospitality Trust is externally advised by Ashford Inc., a separate publicly traded company. Ashford Inc. provides advisory services including management, strategic direction, and capital markets expertise. CEO of Ashford Inc. is Monty Bennett, who also founded Ashford Hospitality Trust.

Scale indicators16 records

Recent moves17 records

Expansion highlights3 records

Ashford Hospitality Trust competitors and assessment

Company assessment

Direct peers

Host Hotels & Resorts: Largest U.S. lodging REIT (NASDAQ: HST) focused on luxury and upper-upscale full-service hotels; directly comparable business model of branded hotel ownership with similar capital-markets exposure.
Park Hotels & Resorts: Public REIT (NYSE: PK) that owns and leases upper-upscale and luxury hotels across the U.S. and internationally; similar asset class and investor base to AHT, with comparable deleveraging history post-Spin from Hilton.
Braemar Hotels & Resorts: Sister lodging REIT also advised by Ashford Inc. and chaired by Monty Bennett; invests in luxury and upper-upscale hotels with similar capital structure and operational setup, making it the most directly comparable peer.
Sunstone Hotel Investors: Public lodging REIT (NYSE: SHO) focused on upper-upscale and luxury full-service hotels; directly comparable portfolio composition and full-service operating profile.
Service Properties Trust: Public REIT (NASDAQ: SVC) owning hotels managed by major operators; comparable hotel-REIT structure with a franchised/managed operating model, and competes directly for the same disposals and refinancings as AHT.
Pebblebrook Hotel Trust: Public REIT (NYSE: PEB) investing in urban upper-upscale full-service hotels; comparable urban, branded-asset strategy that competes directly for the same asset class and institutional capital.
DiamondRock Hospitality Company: Public lodging REIT (NASDAQ: DRH) that owns full-service hotels and resorts under leading brands; comparable full-service, brand-affiliated hotel ownership profile with similar capital allocation discipline.
RLJ Lodging Trust: Public lodging REIT (NYSE: RLJ) focused on premium-branded full-service and compact full-service hotels; directly comparable brand-affiliated, full-service strategy with similar capital structures.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights5 records

Customer concentration

Ashford Hospitality Trust compliance and trust

Trust signal

Compliance2 records

Ashford Hospitality Trust financial estimates

Financial estimate

Revenue estimate

Valuation estimate

Ashford Hospitality Trust leadership team

Management profile

Number of profiles

Profiles9 records

Ashford Hospitality Trust subsidiaries and ownership

Company hierarchy

Subsidiaries4 records

Ashford Hospitality Trust funding detail

Funding detail

Funding overview

Funding rounds4 records

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

Ashford Hospitality Trust M&A and investment

M&A and investment

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Ashford Hospitality Trust

What does Ashford Hospitality Trust do?

Is Ashford Hospitality Trust a public or private company?

Ashford Hospitality Trust is a public company. It is classified as public and is currently operating.

When was Ashford Hospitality Trust founded?

Ashford Hospitality Trust was founded in 2003. It employs 51 to 100 people.

Where is Ashford Hospitality Trust based?

Ashford Hospitality Trust is headquartered in Dallas, United States, in the North America region.

How does Ashford Hospitality Trust make money?

Two revenue lines are on record. Hotel ownership and investment is the primary driver. The others are asset dispositions.

Who are Ashford Hospitality Trust's main competitors?

Direct peers on record are Host Hotels & Resorts, Park Hotels & Resorts, Braemar Hotels & Resorts, Sunstone Hotel Investors, Service Properties Trust, Pebblebrook Hotel Trust, DiamondRock Hospitality Company and RLJ Lodging Trust.

Does Ashford Hospitality Trust have an API?

No public API is recorded for Ashford Hospitality Trust.

What industry is Ashford Hospitality Trust in?

Ashford Hospitality Trust's product category is Hotel REIT (Hospitality Real Estate). Its primary akta.pro industry code is BPAJAMAE, Hospitality (Hotels & Resorts) Asset Management, with a secondary code of BPAJABAE, Hospitality Brokerage. Its NAICS code is 525 and its SIC code is 6798.