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Ashford Hospitality Trust Inc (AHT-4.32%) has filed its Form 10-K for the fiscal year ended December 31, 2024 filing.
The filing reveals a decrease in total revenue to $1,172,459,000 from $1,367,533,000 in the previous year, primarily due to the disposition of several hotel properties and the derecognition of assets related to hotels placed into receivership.
Hotel operating expenses decreased to $815,356,000 from $925,437,000, reflecting the impact of hotel dispositions and operational cost management.
The company reported a net loss of $65,011,000 for the year, an improvement from a net loss of $180,734,000 in the previous year, attributed to gains from the derecognition of assets and disposition of hotel properties.
Interest expense and amortization of discounts and loan costs decreased to $273,359,000 from $326,970,000, due to lower principal balances and reduced amortization of deferred loan costs.
Ashford Hospitality Trust Inc's cash and cash equivalents were $112,907,000 as of December 31, 2024, with restricted cash of $99,695,000.
The company continues to focus on preserving capital, disposing of non-core hotel properties, and implementing strategies to enhance long-term stockholder value.
Ashford Hospitality Trust Inc does not anticipate paying any dividends on its common stock for 2025 but expects to pay dividends on its preferred stock during the year.
The company has refinanced several mortgage loans and is in active discussions regarding a multi-year extension of a significant mortgage loan.
Ashford Hospitality Trust Inc continues to pursue its investment strategy of focusing on upper upscale full-service hotels in domestic markets with revenue per available room generally less than twice the U.S. national average.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Ashford Hospitality Trust Inc annual 10-K report dated March 21, 2025. To report an error, please email earnings@qz.com.