Ashford Hospitality Trust Inc · NYSE:AHT
Ashford Hospitality Trust — Shareholder Meeting (May 2018)
13 slides from Ashford Hospitality Trust's shareholder meeting presentation, May 15, 2018
Slide 1: Annual Shareholder Meeting CEO Overview May 15, 2018
Annual Shareholder Meeting CEO Overview May 15, 2018
Slide 2: Forward Looking Statements and Non-GAAP Measures
Forward Looking Statements and Non-GAAP Measures In keeping with the SEC's "Safe Harbor" guidelines, certain statements made during this presentation could be considered forward-looking and subject to certain risks and uncertainties that could cause results to differ materially from those projected.
Slide 3: Portfolio Overview
Portfolio Overview TOP TEN METRO AREAS(2),(3) TTM Q1 2018 % of 119 24,922 EBITDA Total Washington DC $43,566 9.4% San Fran/Oakland, CA $35,149 7.6% Hotels(1) Rooms(1) Los Angeles, CA $33,899 7.3% New York/New Jersey $31,304 6.7% DFW, TX $26,542 5.7% Boston, MA $25,753 5.5% Atlanta, GA $25,550 5.5% 3
Slide 4: Portfolio Overview
Portfolio Overview W Atlanta Downtown Marriott Beverly Hills Crowne Plaza La Concha Le Pavillon Atlanta, GA Beverly Hills, CA Key West, FL New Orleans, LA One Ocean Le Meridien Minneapolis W Minneapolis The Silversmith Jacksonville, FL Minneapolis, MN Minneapolis, MN Chicago, IL The Churchill Renais
Slide 5: Financially Calibrated Sales
Financially Calibrated Sales Ashford Trust Hotel Sales 2015 - 2018 PROPERTIES SOLD SALES OF MAINLY SELECT-SERVICE PROPERTIES Hampton Inn Terre Haute Sales Proceeds Courtyard Marriott Village LBV $375 million SpringHill Suites Marriott Village LBV Fairfield Inn Marriott Village LBV REMOVAL OF LOWER R
Slide 6: Disciplined Capital Management
Disciplined Capital Management Capitalize upon cyclical changes and advantageous pricing situations COMMON SHARE BUYBACKS $1,400 73.6M 50% $3.28 Of Outstanding Average Financial Crisis Shares $1,200 Shares Buyback $200 RECENT PREFERRED EQUITY ACTIVITY $1,000 2016 2017 $800 $400 9.0% 7.4% 8.5% 7.
Slide 7: Value Enhancement through Refinancing
Value Enhancement through Refinancing BOSTON BACK BAY –OCT 2017 17-PACK –OCT 2017 8-HOTEL PORTFOLIO –JAN 2018 4.38% L+2.00% 5.52% L+3.00% L+5.52% L+2.92% Old Interest Rate New Interest Rate Old Interest Rate New Interest Rate Old Interest Rate New Interest Rate ~$2.8 million in annual debt ser
Slide 8: Cash Position
Cash Position FINANCIAL CRISIS CURRENT CYCLE Positioned to buy back approximately 50% of Ample flexibility to execute opportunistic growth outstanding common shares for about $240 and maintain hedge against an economic millions leading to outsized total shareholder downturn returns FINANCIAL CRISIS
Slide 9: Value Creation Through Active Asset Management
Value Creation Through Active Asset Management W ATLANTA DOWNTOWN W MINNEAPOLIS FOSHAY LE MERIDIEN MINNEAPOLIS Flow-Thru: 157% EBITDA Flow-Thru: 115% EBITDA Flow-Thru: 84% First full year of ownership(1) First full year of ownership(1) First full year of ownership(1) Ashford management creates val
Slide 10: Capital Expenditures
Capital Expenditures Approximately $222 million of CAPEX spent in 2017 Improve portfolio quality Improve competitive position Gain market share 10
Slide 11: Attractive Dividend Yield
Attractive Dividend Yield Highest dividend yield in the industry(1) 8.5% 7.5% 7.0% 6.9% 6.7% 6.5% 6.4% 6.2% 6.1% 6.0% 6.0% 5.6% 5.4% 5.5% 5.3% 5.0% 5.0% 4.5% 4.5% 4.3% 4.1% 3.5% AHT CLDT APLE RLJ BHR LHO PK(2) HT REIT(3) CHSP XHR SHO INN(2) DRH PEB HST Avg Source: Company filings and market data (1)
Slide 12: Stock Performance
Stock Performance Total Shareholder Return 2017 YTD 2018 TTM MAY 2018 30.0% 10.0% 10.0% 24.6% 8.1% 25.0% 5.0% 3.8% 20.0% 5.6% 16.4% 15.0% 0.0% 5.0% 10.0% -5.0% 5.0% -6.7% 0.0% -10.0% 0.0% 1 Year as of 5/11/18 2017 YTD as of 5/11/18 *Peers include: CHSP, CLDT, DRH, HST, HT, INN, LHO, RLJ, & SHO 12
Slide 13: Annual Shareholder Meeting CEO Overview May 15, 2018
Annual Shareholder Meeting CEO Overview May 15, 2018
Ashford Hospitality Trust — Shareholder Meeting (May 2018) on 6ix