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UNITED STATES
SECURITIES AND
EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION
13 OR 15(D) OF THE
SECURITIES EXCHANGE
ACT OF 1934
Date of Report
(date of earliest event reported): November 30, 2023
ASHFORD HOSPITALITY TRUST, INC.
(Exact name of registrant
as specified in its charter)
Maryland |
|
001-31775 |
|
86-1062192 |
(State or other
jurisdiction of incorporation or
organization) |
|
(Commission
File Number) |
|
(IRS employer
identification number) |
|
|
|
|
|
14185 Dallas Parkway, Suite 1200 |
|
|
|
|
Dallas |
|
|
|
|
Texas |
|
|
|
75254 |
(Address of principal executive offices) |
|
|
|
(Zip code) |
Registrant’s
telephone number, including area code: (972) 490-9600
Not Applicable
(Former name or former address, if changed since last report)
Check the appropriated box
below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the
following provisions:
| ¨ | Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ¨ | Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ¨ | Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ¨ | Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Indicate by check
mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of
this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging
growth company ¨
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for
complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨
Securities registered pursuant to Section
12(b) of the Act:
Title of each class |
|
Trading Symbol(s) |
|
Name of each exchange on which registered |
Common Stock |
|
AHT |
|
New York Stock Exchange |
Preferred Stock, Series D |
|
AHT-PD |
|
New York Stock Exchange |
Preferred Stock, Series F |
|
AHT-PF |
|
New York Stock Exchange |
Preferred Stock, Series G |
|
AHT-PG |
|
New York Stock Exchange |
Preferred Stock, Series H |
|
AHT-PH |
|
New York Stock Exchange |
Preferred Stock, Series I |
|
AHT-PI |
|
New York Stock Exchange |
ITEM 2.04 | TRIGGERING EVENTS THAT ACCELERATE OR INCREASE A DIRECT FINANCIAL OBLIGATION OR AN OBLIGATION UNDER AN OFF-BALANCE SHEET ARRANGEMENT |
The information in Item 7.01 is hereby incorporated
by reference.
ITEM 7.01 | REGULATION FD DISCLOSURE |
As previously disclosed in a Current Report on
Form 8-K filed on July 7, 2023, Ashford Hospitality Trust, Inc. (the “Company”) announced its intentions not to make the required
paydowns to extend the KEYS Pool F loan, among other loans, which had an initial maturity date in June 2023. The KEYS Pool F loan was
secured by five hotel properties in the original payment amount of $215,120,000.
On December 4, 2023, the Company issued a press
release to provide an update on the status on the KEYS loan pools, including the consensual transfer of the hotels securing the KEYS Pool
F loan to the current holder of the mortgage loan through a deed in lieu of foreclosure transaction on November 30, 2023.
A copy of the press release is attached hereto
as Exhibit 99.1 and is incorporated herein by reference.
ITEM 9.01 | FINANCIAL STATEMENTS AND EXHIBITS. |
(d) Exhibits
SIGNATURES
Pursuant to the requirements
of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
|
ASHFORD HOSPITALITY TRUST, INC. |
|
|
|
Dated: December 4, 2023 |
By: |
/s/ Alex Rose |
|
|
Alex Rose |
|
|
Executive Vice President, General Counsel & Secretary |
Exhibit 99.1
NEWS
RELEASE
Contact: |
Deric Eubanks |
Jordan Jennings |
Joseph Calabrese |
|
Chief Financial Officer |
Investor Relations |
Financial Relations Board |
|
(972) 490-9600 |
(972) 778-9487 |
(212) 827-3772 |
ASHFORD HOSPITALITY
TRUST PROVIDES
UPDATE ON STATUS
OF LOAN POOLS
DALLAS –
December 4, 2023 – Ashford Hospitality Trust, Inc. (NYSE: AHT) (“Ashford Trust” or the “Company”) today
announced that it has completed the transfer of ownership of the KEYS F loan pool to the mortgage lender. The hotels in the KEYS F loan
pool that were transferred to the mortgage lender include:
Embassy
Suites Flagstaff – Flagstaff, AZ
Embassy
Suites Walnut Creek – Walnut Creek, CA
Marriott Bridgewater –
Bridgewater, NJ
Marriott Research Triangle
Park – Durham, NC
W Atlanta Downtown –
Atlanta, GA
The Company continues to work with the lender
for the KEYS A and KEYS B loan pools on a consensual transfer of ownership of those hotels to the lender, and the Company anticipates that
transfer could occur by the end of the year or early 2024. The original lenders previously transferred the loans to a securitization trust.
Such trust, acting through its servicer, brought suit seeking the appointment of a receiver. It is not unusual that a receiver be appointed
to facilitate a transfer of ownership of those hotels to the lender, and the Company is fully cooperating on a consensual transfer of
ownership. Several media outlets have erroneously stated that Bank of America, Morgan Stanley, and Barclays have sued Ashford Hospitality
Trust for breach of contract. This is inaccurate. Those banks are not party to the litigation seeking the appointment of a receiver.
* * * * *
Ashford Hospitality Trust is a real estate investment
trust (REIT) focused on investing predominantly in upper upscale, full-service hotels.
Forward-Looking Statements
Certain statements and assumptions in this
press release contain or are based upon “forward-looking” information and are being made pursuant to the safe harbor provisions
of the Private Securities Litigation Reform Act of 1995. Forward-looking statements in this press release include, among others, statements
about the Company’s strategy and future plans. These forward-looking statements are subject to risks and uncertainties. When we
use the words “will likely result,” “may,” “anticipate,” “estimate,” “should,”
“expect,” “believe,” “intend,” or similar expressions, we intend to identify forward-looking statements.
Such statements are subject to numerous assumptions and uncertainties, many of which are outside Ashford Trust’s control.
These forward-looking statements are subject
to known and unknown risks and uncertainties, which could cause actual results to differ materially from those anticipated, including,
without limitation: our ability to repay, refinance, or restructure our debt and the debt of certain of our subsidiaries; anticipated
or expected purchases or sales of assets; our projected operating results; completion of any pending transactions; our understanding of
our competition; market trends; projected capital expenditures; the impact of technology on our operations and business; general volatility
of the capital markets and the market price of our common stock and preferred stock; availability, terms and deployment of capital; availability
of qualified personnel; changes in our industry and the markets in which we operate, interest rates or the general economy; and the degree
and nature of our competition. These and other risk factors are more fully discussed in Ashford Trust’s filings with the Securities
and Exchange Commission.
The forward-looking statements included in
this press release are only made as of the date of this press release. Such forward-looking statements are based on our beliefs, assumptions,
and expectations of our future performance taking into account all information currently known to us. These beliefs, assumptions, and
expectations can change as a result of many potential events or factors, not all of which are known to us. If a change occurs, our business,
financial condition, liquidity, results of operations, plans, and other objectives may vary materially from those expressed in our forward-looking
statements. You should carefully consider these risks when you make an investment decision concerning our securities. Investors should
not place undue reliance on these forward-looking statements. The Company can give no assurance that these forward-looking statements
will be attained or that any deviation will not occur. We are not obligated to publicly update or revise any forward-looking statements,
whether as a result of new information, future events or circumstances, changes in expectations, or otherwise, except to the extent required
by law.
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Ashford Hospitality (NYSE:AHT-I)
過去 株価チャート
から 5 2024 まで 6 2024
Ashford Hospitality (NYSE:AHT-I)
過去 株価チャート
から 6 2023 まで 6 2024