Ashford Agrees to Sell Houston Property to Deleverage Portfolio

Ashford Hospitality Trust, Inc. (AHT) has taken another step in its strategic plan to deleverage and optimize its portfolio. The Dallas, TX-based REIT announced a definitive agreement to sell the 242-room Hilton Houston NASA Clear Lake in Houston, TX, for $27 million. The transaction, subject to closing conditions, is expected to be completed in June 2025.The sale represents an attractive exit for Ashford, yielding a capitalization rate of 3.2% on net operating income (NOI) or 23.6X Hotel EBITDA after adjus ...