Ashford Hospitality Trust(US:AHT) Prnewswireยท2024-04-08 20:20Company Performance - Ashford Hospitality Trust expects to report an occupancy rate of approximately 67% for Q1 2024, with an Average Daily Rate (ADR) of about $191, resulting in a Revenue Per Available Room (RevPAR) of approximately $128, reflecting a decrease of about 1% compared to Q1 2023 [1] - For January 2024, Comparable RevPAR increased by approximately 2.1% compared to January 2023, while February 2024 saw a decrease of about 0.3% versus February 2023, and March 2024 experienced a decline of approximately 3.7% compared to March 2023 [1] Management Commentary - The company benefits from increased corporate and group demand, although March operating results were soft due to the Easter Holiday shift, with expectations for marked improvement in April [2] - The company is focused on paying off strategic corporate financing and has made meaningful progress towards its deleveraging plan, believing that its high-quality, geographically diverse portfolio is well-positioned to outperform in 2024 [2] Financial Instruments - As of March 31, 2024, the company has 4,353,138 shares of Series J non-traded preferred stock and 262,060 shares of Series K non-traded preferred stock outstanding, raising approximately $114.6 million in gross proceeds since the offering commenced in Q3 2022 [2]