Ashford Hospitality sees Q2 comparable RevPAR up 7% from last year

Ashford Hospitality Trust, Inc reported that the Company expects to report Occupancy of approximately 75% for the Q2 with Average Daily Rate of approximately $191 resulting in RevPAR of approximately $144. This Comparable RevPAR reflects an approximate increase of 7% compared to the Q2 of 2022. Excluding the 19 hotels secured by loans that the Company did not extend during the quarter, the Company’s results for the second quarter would have been Occupancy of approximately 76% with Average Daily Rate of approximately $197 resulting in RevPAR of approximately $150. “We’re pleased with Ashford Trust’s strong Q2 operating performance,” commented Rob Hays, Ashford Trust’s President and CEO. “Our growth in occupancy, ADR and RevPAR reflects our high-quality, geographically diverse portfolio, which continues to benefit from increased corporate and group demand. Additionally, proactively choosing not to extend three of our KEYS loan pools not only improves our operating results and the overall quality of our portfolio but will also lower our leverage and conserve cash.” Mr. Hays added, “Looking forward, we believe we are well-positioned for our upcoming maturities and for our portfolio to continue to generate strong operating performance.”