Ashford Hospitality Trust To Sell Three Hotels For ~$69.5M; Expects More Than $2M In Annual Cash Flow Improvement And $14.5M In Future Capital Expenditure Savings Following The Sales

Ashford Hospitality Trust, Inc. (NYSE:AHT) ("Ashford Trust" or the "Company") announced today that it has signed definitive agreements to sell the Le Pavillon, New Orleans, a Tribute Portfolio Hotel, the Embassy Suites by Hilton Austin Arboretum, and the Embassy Suites by Hilton Houston Near the Galleria. These sales are expected to generate approximately $69.5 million in aggregate gross proceeds. Based on current mortgage interest rates, the Company expects more than $2 million in annual cash flow improvement and $14.5 million in future capital expenditure savings following the sales.