Shares of Ashford Hospitality Trust surged after the real estate investment trust (REIT) announced its plans to sell a portion of its hotels in order to pay off debt due in early 2026. In morning trading, the stock saw a 33% increase, although it has experienced a 74% decline in the past year.
The REIT has disclosed a list of twelve properties that are currently being prepared for sale. These include well-known hotels such as the 390-room Hilton Boston Back Bay, the 444-room Ritz-Carlton Atlanta, and the 296-room Westin Princeton. Primarily focused on corporate travel, these urban hotels are expected to attract favorable valuations.
While not all properties will be sold, the REIT is prioritizing those that will yield the highest valuations. In addition to this strategy, Ashford is also working on refinancing its loan tied to the Renaissance Nashville hotel in Tennessee, as well as some of its other loans.
“We are confident that we can successfully pay off our strategic financing this year,” stated Chief Executive Rob Hays.