Ashford Hospitality Trust (AHT) just unveiled an update.
Ashford Hospitality Trust, Inc. has made significant strides in its financial strategy by negotiating the sale of the Hilton Boston Back Bay Hotel for $171 million in cash to Beantown Hotel Owner LLC. With an $8 million deposit already in escrow, the deal, which includes standard terms and conditions, is expected to finalize in the first quarter of 2024. This sale is part of the company’s plan to pay off strategic financing, enhancing its financial position, although the closing is subject to customary conditions and there’s no absolute guarantee it will proceed as planned.
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