In This Article:
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Comparable RevPAR Growth: 3.2% increase.
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Comparable Total Revenue Growth: 3.6% increase.
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Comparable Hotel EBITDA Growth: 8.7% increase.
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Net Loss Attributable to Common Stockholders: $27.8 million or $4.91 per diluted share.
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AFFO per Diluted Share: Negative $0.98.
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Adjusted EBITDAre: $61.7 million, a $2.2 million increase over the prior year quarter.
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Total Revenue: Down $26.5 million compared to the prior year quarter.
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Cash and Cash Equivalents: $85.8 million.
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Restricted Cash: $139.2 million.
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Consolidated Portfolio: 72 hotels with 17,329 rooms.
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Series J and Series K Non-Traded Preferred Stock Offering: Raised approximately $212 million in gross proceeds.
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Hotel Margin Expansion: Approximately 131 basis points compared to the prior year period.
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Capital Expenditures for 2025: Expected to range between $95 million and $115 million.
Release Date: May 07, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
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Ashford Hospitality Trust Inc (NYSE:AHT) reported a 3.2% growth in comparable revPAR and an 8.7% increase in comparable hotel EBITDA for the first quarter of 2025.
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The company successfully converted La Concha Hotel in Key West and Le Pavillon Hotel in New Orleans to Marriott's Autograph Collection and Tribute Portfolio, respectively, resulting in significant revenue growth.
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The GRO AHT initiative is on track, contributing over $30 million towards the $50 million run rate improvement goal, with substantial reductions in corporate expenses.
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Ashford Hospitality Trust Inc (NYSE:AHT) completed refinancing of 16 assets, fully repaying the remaining balance on corporate strategic financing, leaving the company free of corporate debt.
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The company raised $212 million in gross proceeds from a non-traded preferred stock offering, providing substantial capital for deleveraging and future growth.
Negative Points
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Ashford Hospitality Trust Inc (NYSE:AHT) reported a net loss attributable to common stockholders of $27.8 million for the first quarter of 2025.
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The company experienced a negative AFFO per diluted share of $0.98, despite improvements over the prior year quarter.
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Total revenue decreased by $26.5 million compared to the prior year quarter, reflecting ongoing challenges.
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Approximately 77% of the company's debt is effectively floating, exposing it to interest rate fluctuations.
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The company does not anticipate reinstating a common dividend in 2025, focusing instead on preferred dividends.
Q & A Highlights
Q: Can you discuss the monthly revPAR progression in the quarter and the impact of calendar shifts on March and April? A: January was the strongest month due to the inauguration. February faced headwinds, including losing February 29 from the leap year. Easter moving into April helped March and will impact April. We observed softening in certain markets, particularly in the DC area, but corporate and entertainment segments remain strong. We are focusing on labor efficiency and have seen improvements in productivity and cost management.