Ashford Hospitality Trust, Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023
February 28, 2024 at 04:10 pm EST
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Ashford Hospitality Trust, Inc. reported earnings results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, the company reported sales was USD 241.68 million compared to USD 242.53 million a year ago. Revenue was USD 319.88 million compared to USD 317.47 million a year ago. Net loss was USD 29.4 million compared to USD 56.13 million a year ago. Basic loss per share from continuing operations was USD 0.9 compared to USD 1.75 a year ago. Diluted loss per share from continuing operations was USD 0.9 compared to USD 1.75 a year ago.
For the full year, sales was USD 1,059.16 million compared to USD 974 million a year ago. Revenue was USD 1,367.53 million compared to USD 1,240.86 million a year ago. Net loss was USD 178.49 million compared to USD 139.83 million a year ago. Basic loss per share from continuing operations was USD 5.61 compared to USD 4.46 a year ago. Diluted loss per share from continuing operations was USD 5.61 compared to USD 4.46 a year ago.
Ashford Hospitality Trust, Inc. is a real estate investment trust (REIT). The Company's portfolio consists of upscale hotels and upper upscale full-service hotels. The Company owns its lodging investments and conducts its business through Ashford Hospitality Limited Partnership (Ashford Trust OP). The Company's hotel properties are primarily branded under the brands of Hilton, Hyatt, Marriott and Intercontinental Hotel Group. The Company operates through one segment: direct hotel investments. The Companyâs portfolio consists of 90 hotels with 20,549 rooms. It owns a 15.1 % ownership in OpenKey, Inc. The Company owns four consolidated operating hotel properties, which represent 405 total rooms owned through a 99.4% ownership interest in Stirling REIT OP, LP (Stirling OP). The Company also has an investment in an entity that owns the Meritage Resort and Spa and the Grand Reserve at the Meritage (the Meritage Investment) in Napa, California.
ASHFORD HOSPITALITY TRUST, INC. 
