The Dallas-based REIT is offloading upper-upscale properties to cut leverage and free up cash flow amid strong buyer interest across its portfolio.

February 25, 2026

Ashford Hospitality Trust is accelerating its asset disposition strategy, announcing agreements to sell two hotels while confirming the completed sale of two others — a coordinated effort to reduce debt and shore up the company’s financial position.

Pending Transactions

The company has entered into an agreement to sell the 157-room La Posada de Santa Fe Resort & Spa in New Mexico for $57.5 million, or roughly $364,000 per room, with the deal expected to close in March 2026. Accounting for anticipated capital expenditures of $18 million, the transaction reflects a capitalization rate of approximately 5.9% on net operating income and a Hotel EBITDA multiple of 15.1 times for the twelve months ending December 31, 2025.

Also under agreement is the 333-room Hilton St. Petersburg Bayfront in Florida, set to sell for $96 million, or about $288,000 per room. That deal is similarly targeted for a March 2026 close. Factoring in $23 million in anticipated capital costs, the sale implies a 5.5% cap rate and a 16.1 times Hotel EBITDA multiple on the same trailing period.

Completed Sales

Ashford Trust has closed on the previously announced sales of two Embassy Suites properties — one near Houston’s Galleria and another at Austin’s Arboretum — totaling 300 rooms and generating $27 million in gross proceeds, or $90,000 per key. After adjusting for $14.5 million in anticipated capital expenditures, those transactions reflect a 1.7% cap rate and a Hotel EBITDA multiple of 34.5 times.

Combined Impact

Together, the four transactions are projected to deliver the following financial benefits:

• More than $2 million in annual cash flow improvement
• Approximately $55.5 million in future capital expenditure savings, based on current mortgage interest rates

The company has framed its ongoing disposition program as central to a broader strategy of reducing leverage, improving liquidity, and cutting costs tied to interest expenses and capital spending requirements. Proceeds from the sales are being directed primarily toward debt retirement, with the goal of positioning the company for sustained long-term value.

Both pending sales remain subject to standard closing conditions, and the company offered no guarantees that either transaction would be completed as outlined.