XBRL TAXONOMY EXTENSION DEFINITION LINKBASE DOCUMENT

XBRL TAXONOMY EXTENSION LABEL LINKBASE DOCUMENT

XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE DOCUMENT

Form 8-K - Current report - Item 7.01 Item 9.01

Ashford Hospitality Trust Inc

Announcement: AHT 8-K Special Filing

Form 8-K - Current report - Item 5.02 Item 5.07

Part 1: Analysis of Performance

Ashford Hospitality Trust Inc reported a consolidated hotel portfolio of 100 properties with a total of 22,316 rooms located in the United States. The company's key priorities and financial strategies include maintaining significant cash and cash equivalents liquidity, disposing of non-core hotel properties, and pursuing capital market activities to enhance long-term stockholder value. The company's investment strategy is focused on owning predominantly full-service hotels in the upper upscale segment in domestic markets that have RevPAR generally less than twice the national average.

During the period, the company's business and investment strategy were impacted by different factors such as rising interest rates and inflation, extreme weather conditions, general and economic business conditions affecting the lodging and travel industry, changes in personnel and governmental regulations, and tax rates, among other factors. These factors can pose potential risks to the company's business, financial condition, liquidity, results of operations, plans, and other objectives. However, the company's management believes that their business strategy can adapt to new opportunities and challenges in the industry, and the company will continue to seek ways to benefit from the cyclical nature of the hotel industry.

Part 2: Forward-looking Analysis

Looking ahead, Ashford Hospitality Trust Inc's future performance can be influenced by factors such as the ongoing economic recovery, travel restrictions, and the emergence of new market trends. CEO Rob Hays stated that "with the improving environment, we continue to be focused on maximizing our portfolio's operating performance and unlocking value for our stockholders." The company aims to generate long-term stockholder value through selective capital improvements, effective asset management strategies, and pursuing opportunistic value-add additions to their hotel portfolio.

Furthermore, the company plans to dispose of non-core hotel properties and exchange preferred stock into common stock opportunistically. Additionally, the company will continue to seek competitive financing and utilize hedges and derivatives to mitigate risks. In the long run, the company plans to shift its investment strategy to take advantage of new lodging-related investment opportunities as they may develop.

In conclusion, Ashford Hospitality Trust Inc's strategies and priorities provide a good foundation for future growth. However, the company's future performance is subject to several factors beyond its control. Thus, investors should exercise due diligence and understanding of the risks outlined in the company's forward-looking statements. Overall, Ashford Hospitality Trust Inc appears well-positioned in the lodging and travel industry given its focus on selective capital improvements, effective asset management, and opportunistic value-add additions.

XBRL TAXONOMY EXTENSION CALCULATION LINKBASE DOCUMENT

Form 10-Q - Quarterly report [Sections 13 or 15(d)]

Ashford Hospitality reports strategy to enhance shareholder value

Form 8-K - Current report - Item 2.02 Item 8.01 Item 9.01

Ashford Hospitality Trust Inc. has released its preliminary financial results for the first quarter of 2023. The company expects to report an occupancy rate of approximately 68% and an average daily rate of $184, which will result in a comparable revenue per available room (RevPAR) of approximately $125. This represents a 30% increase compared to the first quarter of 2022. Additionally, the company's Comparable RevPAR increased by approximately 49% in January 2023, 30% in February 2023, and 19% in March 2023 when compared to the same months in 2022.

After the first quarter, the company anticipates that 40% of its hotels will remain in cash traps under their respective loans compared to 79% at the end of the fourth quarter of 2022. The hotels that are expected to be out of cash traps after the first quarter generated approximately 70% of the Company's full-year 2022 Hotel EBITDA. Moreover, the company extended its BAML Highland Pool Loan until April 2024 and paid down the existing loan balance by $45 million. The company is also working with a lender on the refinancing of the La Posada de Santa Fe and the Hilton Alexandria loans, which are the company’s only final debt maturities in 2023.

The company's President and CEO, Rob Hays, expressed confidence in the company's geographic diversification and the progress made on several of its loan extensions. The company's majority of hotels are now out of their respective cash traps.

Although the report shows encouraging results, investors should be cautious when making investment decisions regarding the company's securities since the forward-looking statements have many uncertainties and are subject to risks that could cause actual results to differ materially from those anticipated.

Announcement: AHT 8-K Special Filing

Announcement: AHT 8-K Special Filing

Announcement: AHT 8-K Special Filing

Announcement: AHT 8-K Special Filing

Ashford Hospitality reports strategy to enhance shareholder value

Ashford Hospitality reports strategy to enhance shareholder value

Announcement: AHT 8-K Special Filing

Announcement: AHT 8-K Special Filing

Announcement: AHT 8-K Special Filing

Announcement: AHT 8-K Special Filing

$AHT Reports 30% Increase in Comparable RevPAR for Q1 2023, with 40% of Hotels Expected to be Out of Cash Traps Following Strong Performance

$AHT Reports 30% Increase in Comparable RevPAR for Q1 2023, with 40% of Hotels Expected to be Out of Cash Traps Following Strong Performance