DALLAS, Jan. 6, 2023
/PRNewswire/ -- Ashford Hospitality Trust, Inc. (NYSE: AHT)
("Ashford Trust" or the "Company") reported today that the Company
expects to report occupancy of approximately 68% for the fourth
quarter of 2022 with an average daily rate of approximately
$175 resulting in RevPAR of
approximately $118. This RevPAR
reflects an approximate increase of 25% compared to the fourth
quarter of 2021 and a decrease of approximately 1% compared to the
fourth quarter of 2019.
Additionally, for the month of December
2022, RevPAR was essentially unchanged versus December 2019. For the month of November 2022, RevPAR decreased approximately 2%
versus November 2019. For the month
of October 2022, RevPAR decreased
approximately 1% versus October
2019.
"We're extremely pleased with Ashford Trust's solid fourth
quarter operating results as we continued to benefit from increased
demand and realized notable rate increases in many key markets
during the quarter," commented Rob
Hays, Ashford Trust's President and Chief Executive Officer.
"As we look ahead to 2023, we believe that our high-quality,
geographically diverse portfolio, with its high exposure to both
transient leisure and business customers, remains
well-positioned."
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: the impact of COVID-19, and the rate of adoption and
efficacy of vaccines to prevent COVID-19, on our business and
investment strategy; 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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SOURCE Ashford Hospitality Trust, Inc.