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Ashford Hospitality Trust, Inc. AHT has taken another step in its strategic plan to deleverage and optimize its portfolio. The Dallas, TX-based REIT announced a definitive agreement to sell the 242-room Hilton Houston NASA Clear Lake in Houston, TX, for $27 million. The transaction, subject to closing conditions, is expected to be completed in June 2025.

The sale represents an attractive exit for Ashford, yielding a capitalization rate of 3.2% on net operating income (NOI) or 23.6X Hotel EBITDA after adjustments for anticipated capital expenditures for the 12 months ended April 30, 2025. Excluding capital expenditure adjustments, the sale price represents a 5% cap rate on NOI or 15.2X Hotel EBITDA for the 12 months ended April 30, 2025.