Ashford Hospitality Trust (AHT) Investor Presentation - Slideshow

Balance Sheet & Liquidity - Ashford Hospitality Trust (AHT) has taken numerous steps to improve its balance sheet and liquidity profile[13] - AHT has achieved substantive corporate deleveraging since mid-2020[17] - As of December 31, 2022, AHT's net working capital was approximately $519.053 million, resulting in a net working capital per share of $14.35, compared to a stock price of $4.47[19] - Decisive actions have resulted in approximately $990 million of deleveraging since Q2 2020[37] - AHT has a well-laddered debt maturity schedule, with $98 million due in 2023, $492 million in 2024, $2.582 billion in 2025, $618 million in 2026 and $35 million in 2027[20] Portfolio & Recovery - The company's portfolio is positioned to capitalize on the lodging recovery, which is expected over the next 4+ years[38] - Industry RevPAR and ADR exceeded 2019 levels in 2022[41] - AHT RevPAR as a percentage of 2019 has rebounded strongly from the depths of the crisis[46] - The portfolio is geographically diverse and focused on upper upscale assets[53] - 71% of Hotel EBITDA is exposed to Top-25 Markets[58] - Comparable YTD Hotel EBITDA as of December 31, 2022 is $349.199 million, excluding assets disposed of or acquired in 2022 and WorldQuest[52]