ASHFORD HOSPITALITY TRUST ANNOUNCES DETAILS FOR REVERSE STOCK SPLIT

Core Viewpoint - Ashford Hospitality Trust, Inc. announced a reverse stock split at a ratio of 1-for-10 to comply with NYSE listing requirements [1][3]. Group 1: Reverse Stock Split Details - The reverse stock split will reduce the number of outstanding shares from approximately 54.6 million to about 5.5 million [2]. - Fractional shares resulting from the split will be rounded down and sold in the open market, with proceeds distributed to stockholders in cash [2]. - The common stock will trade under a new CUSIP number post-split, effective October 28, 2024 [2]. Group 2: Purpose and Impact - The primary purpose of the reverse stock split is to raise the per share trading price to meet the minimum $1.00 continued listing requirement on the NYSE [3]. - A similar reverse split of the partnership units of Ashford Hospitality Limited Partnership will also occur at a 1-for-10 ratio, reducing outstanding units from approximately 2.1 million to about 0.2 million [3]. - Ashford Hospitality Trust focuses on investing in upper upscale, full-service hotels as a real estate investment trust (REIT) [3].