Key Takeaways Ashford signed an agreement to sell the 150-room Residence Inn San Diego Sorrento Mesa for $42M.The deal implies a 5.7% cap rate with expected $16M capital spend, or 7.9% cap rate without the spend.CEO says the sale supports deleveraging efforts and enhances financial flexibility for AHT.Ashford Hospitality Trust (AHT) recently signed a definitive agreement to sell the 150-room Residence Inn San Diego Sorrento Mesa in San Diego, CA, for $42 million. Subject to closing conditions, the sale is e ...

Core Points - Ashford Hospitality Trust has signed a definitive agreement to sell the Residence Inn San Diego Sorrento Mesa for $42.0 million, equating to $280,000 per room, with the sale expected to close in October 2025 [1][3] - The sale price reflects a capitalization rate of 5.7% on net operating income when adjusted for anticipated capital expenditures of $16.0 million, or a multiple of 15.3 times Hotel EBITDA for the twelve months ending July 31, 2025 [2] - Excluding anticipated capital expenditures, the sale price represents a 7.9% capitalization rate on net operating income or a multiple of 11.1 times Hotel EBITDA for the same period [2] - The transaction aligns with the company's strategy to deleverage its portfolio and enhance shareholder value, providing increased financial flexibility [3]