Business
ASHFORD HOSPITALITY TRUST ANNOUNCES REDUCTIONS IN CORPORATE ADMINISTRATIVE & GENERAL EXPENSES
Ashford Hospitality Trust, Inc. (NYSE: AHT) ("Ashford Trust" or the "Company") today announced reductions in corporate administrative and general expenses as part of its ongoing efforts to enhance EBITDA and improve financial performance. This strategic move is a key component of "GRO AHT," the Company's transformative initiative designed to drive $50 million in annual run-rate EBITDA improvement and significantly increase shareholder value.
About this update from Ashford Hospitality Trust Inc
[{"type":"text","content":"DALLAS, March 12, 2025 /PRNewswire/ -- Ashford Hospitality Trust, Inc. (NYSE: AHT) ("Ashford Trust" or the "Company") today announced reductions in corporate administrative and general expenses as part of its ongoing efforts to enhance EBITDA and improve financial performance. This strategic move is a key component of "GRO AHT," the Company's transformative initiative designed to drive $50 million in annual run-rate EBITDA improvement and significantly increase shareholder value.","length":518,"tagName":"p"},{"type":"text","content":"The Company's advisor, Ashford Inc., has implemented several corporate cost-saving measures for Ashford Trust, including reductions in legal spend, accounting and consulting fees, subscriptions and dues, general office expenses, and the consolidation of bank fees. In total, Ashford Trust expects these initiatives to deliver over $4 million in annual savings, reinforcing its commitment to operational efficiency and disciplined financial management. Combined with the previously announced initiatives, these reductions in corporate administrative and general expenses are expected to deliver more than $18 million in incremental EBITDA.","length":642,"tagName":"p"},{"type":"text","content":"The Company continues to partner with its property managers and Ashford Inc. on a number of initiatives as part of the "GRO AHT" strategy and will provide additional updates as the plan is further executed.","length":216,"tagName":"p"},{"type":"text","content":"Ashford Hospitality Trust is a real estate investment trust (REIT) focused on investing predominantly in upper-upscale, full-service hotels.","length":140,"tagName":"p"},{"type":"text","content":"Forward-Looking Statements ","length":26,"tagName":"p"},{"type":"text","content":"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 federal securities regulations. Forward-looking statements are generally identifiable by use of forward-looking terminology such as "may," "will," "should," "potential," "intend," "expect," "anticipate," "estimate," "approximately," "believe," "could,&quo...