Ashford Hospitality Trust Q2 RevPAR rises 6.6% as debt falls - AHT News | RalliesAshford Hospitality Trust Q2 RevPAR rises 6.6% as debt falls
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AHT• Outlook
- Company expects strategic asset sales to remain a key focus for balance sheet improvement
- Company says higher interest rate environment may delay resumption of capital returns to preferred holders
Overview
- U.S. hotel REIT's Q2 comparable RevPAR rose 6.6% on higher average daily rates
- Adjusted FFO per diluted share increased sharply from the prior-year quarter
- Company sold nine hotels in Q2, using proceeds to reduce debt and improve leverage
Key Details
| Metric | Beat/Miss | Actual | Consensus Estimate |
|---|
| Q2 Rooms Revenue | Miss | $209.62 mln | $292.80 mln (1 Analyst) |
| Q2 Adjusted RevPAR | | $155.70 | |
- The one available analyst rating on the shares is "hold"
- The average consensus recommendation for the specialized REITs peer group is "buy"
Result Drivers
- Rate-led growth - Co said Q2 comparable RevPAR rose 6.6% driven mainly by a 5.8% increase in average daily rate, with occupancy up 0.7%
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