Q2 2025 Ashford Hospitality Trust Inc Earnings Call Transcript
Key Points
- Ashford Hospitality Trust Inc (AHT) reported a comparable total revenue growth of 1.3% and comparable hotel EBITDA growth of 2.6% for the second quarter of 2025.
- The company has implemented a transformative initiative, Grow AHT, aimed at driving $50 million in run rate EBITDA improvement, which is showing positive results.
- Ashford Hospitality Trust Inc (AHT) successfully extended its MS-17 mortgage loan and Highland mortgage loan, improving its capital structure.
- The company raised $212 million in gross proceeds from a non-traded preferred stock offering, providing substantial capital for property level deleveraging and future growth.
- Several properties have undergone major renovations or brand conversions, resulting in significant increases in RevPAR and total revenue, such as the Embassy Suites Dallas Galleria and Laocha Key West.
- Ashford Hospitality Trust Inc (AHT) reported a net loss attributable to common stockholders of $39.9 million for the second quarter.
- Comparable RevPAR declined by 2.2% due to reduced demand from group and government-related travel.
- Government room nights were down approximately 26% compared to the prior year period, representing a significant headwind to revenue performance.
- Group revenue for the portfolio declined approximately 4% during the second quarter compared to the prior year period.
- The company does not anticipate reinstating a common dividend in 2025, which may be a concern for income-focused investors.
Thank you for standing by. My name is Greg, and I will be your conference operator today. At this time, I would like to welcome everyone to today's Ashford Hospitality Trust second quarter 2025 results conference call. (Operator Instructions)
I would now like to turn the call over to Deric Eubanks, Chief Financial Officer.
Good morning and welcome to today's conference call to review results for Ashford Hospitality Trust for the second quarter of 2025 and to update you on recent developments. On the call today will also be Stephen Zsigray, President and Chief Executive Officer, and Chris Nixon, Executive Vice President & Head of Asset Management.
The results, as well as notice of the accessibility of this conference call on a listen-only basis over the internet, were distributed yesterday afternoon in a press release. At this time, let me remind you that certain statements and assumptions in this conference call contain or based upon forward-looking
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