Ashford Hospitality Trust, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 07, 2023 at 04:16 pm EST
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Ashford Hospitality Trust, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 270.61 million compared to USD 260.62 million a year ago. Revenue was USD 343.01 million compared to USD 328.16 million a year ago. Net loss was USD 63.56 million compared to USD 22.09 million a year ago. Basic loss per share from continuing operations was USD 1.99 compared to USD 0.73 a year ago. Diluted loss per share from continuing operations was USD 1.99 compared to USD 0.73 a year ago.
For the nine months, sales was USD 817.48 million compared to USD 731.47 million a year ago. Revenue was USD 1,047.65 million compared to USD 923.39 million a year ago. Net loss was USD 149.09 million compared to USD 83.69 million a year ago. Basic loss per share from continuing operations was USD 4.72 compared to USD 2.71 a year ago. Diluted loss per share from continuing operations was USD 4.72 compared to USD 2.71 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. 
