ASHFORD HOSPITALITY TRUST ANNOUNCES PROGRESS IN PLAN TO PAY OFF STRATEGIC FINANCING WITH AGREEMENT TO SELL THE HILTON BOSTON BACK BAY
For the trailing twelve months ended
"We are pleased to announce the planned sale of the
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Reconciliation of |
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(Unaudited, in millions) |
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12 Months Ending |
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Net income (loss) |
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$ 2.3 |
Interest expense |
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8.9 |
Amortization of loan costs |
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0.5 |
Depreciation and amortization |
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4.7 |
Non-hotel EBITDA ownership expense |
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0.3 |
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$ 16.7 |
Capital reserve |
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(1.8) |
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$ 14.9 |
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All information in this table is based upon unaudited operating financial data for the twelve month |
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EBITDA is defined as net income (loss), computed in accordance with generally accepted accounting |
Forward-Looking Statements
Certain statements and assumptions in this press release contain or are based upon "forward-looking" information and are being made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements in this press release include, among others, statements about the Company's strategy and future plans, including its plans to raise capital through a combination of asset sales, mortgage debt refinancings and non-traded preferred capital raising and to pay off its strategic financing. These forward-looking statements are subject to risks and uncertainties. When we use the words "will likely result," "may," "anticipate," "estimate," "should," "expect," "believe," "intend," "could," "plan," or similar expressions, we intend to identify forward-looking statements. Such statements are subject to numerous assumptions and uncertainties, many of which are outside of
These forward-looking statements are subject to known and unknown risks and uncertainties, which could cause actual results to differ materially from those anticipated, including, without limitation: our ability to complete the sale of
The forward-looking statements included in this press release are made only as of the date of this press release. Such forward-looking statements are based on our beliefs, assumptions, and expectations of our future performance taking into account all information currently known to us. These beliefs, assumptions, and expectations can change as a result of many potential events or factors, not all of which are known to us. If a change occurs, our business, financial condition, liquidity, results of operations, plans, and other objectives may vary materially from those expressed in our forward-looking statements. You should carefully consider these risks when you make an investment decision concerning our securities. Investors should not place undue reliance on these forward-looking statements. The Company can give no assurance that these forward-looking statements will be attained or that any deviation will not occur. We are not obligated to publicly update or revise any forward-looking statements, whether as a result of new information, future events or circumstances, changes in expectations, or otherwise, except to the extent required by law.
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