Ashford Hospitality to Sell Four Hotels for $180.5M, Adding $2M Annual Cash Flow
Ashford Hospitality Trust signed agreements to sell La Posada de Santa Fe Resort & Spa for $57.5 million and Hilton St. Petersburg Bayfront for $96 million. The company closed two Embassy Suites sales for $27 million, boosting cash flow by $2 million and $55.5 million in capex savings.
1. Sale Agreements
Ashford Hospitality Trust entered into definitive agreements to sell La Posada de Santa Fe Resort & Spa (157 rooms) for $57.5 million and Hilton St. Petersburg Bayfront (333 rooms) for $96 million, with closings expected in March 2026 pending standard conditions.
2. Closed Transactions
The company closed sales of two Embassy Suites by Hilton properties near the Galleria in Houston and Austin Arboretum, representing 300 rooms and generating $27 million in proceeds at $90,000 per key.
3. Financial Impact and Strategy
Proceeds from the four sales are earmarked to retire debt, support the strategy to deleverage, and are projected to boost annual cash flow by $2 million and save $55.5 million in future capital expenditures.