Ashford Hospitality Trust, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 02, 2023 at 06:19 am EDT
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Ashford Hospitality Trust, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was USD 293.92 million compared to USD 275.53 million a year ago. Revenue was USD 375.75 million compared to USD 348.1 million a year ago. Net loss was USD 25.69 million compared to USD 6.17 million a year ago. Basic loss per share from continuing operations was USD 0.88 compared to USD 0.27 a year ago. Diluted loss per share from continuing operations was USD 0.88 compared to USD 0.27 a year ago.
For the six months, sales was USD 546.87 million compared to USD 470.86 million a year ago. Revenue was USD 704.64 million compared to USD 595.23 million a year ago. Net loss was USD 86.61 million compared to USD 61.6 million a year ago. Basic loss per share from continuing operations was USD 2.76 compared to USD 1.98 a year ago. Diluted loss per share from continuing operations was USD 2.76 compared to USD 1.98 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. 
