Ashford Hospitality Trust, a real estate investment trust (REIT) specializing in upper upscale, full-service hotels, is seeking to raise capital through the sale of some assets. Among these properties are five located in Georgia: the 444-room Ritz-Carlton Atlanta and four others at various stages of availability for purchase.
These include the 351-room Hyatt Savannah in Savannah, GA; the 86-room Hampton Inn Lawrenceville in Lawrenceville, GA; and two hotels situated in Kennesaw, GA -the 90-room SpringHill Suites Kennesaw and the 87-room Fairfield Inn Kennesaw. While not all of these assets may be sold by Ashford Hospitality Trust ultimately decides which ones will yield attractive valuations above allocated debt balances and mortgage release prices.
In addition to selling off certain properties, Ashford is also working with lenders to refinance loans secured by several other hotels within their portfolio. As reported at year-end for fiscal year2022,the company held a total indebtedness of $3.6 billion with $3.3 billion being variable-rate debt.Their current holdings consistof100hotelswith over22 ,300 rooms.
The article “Ashford Puts Five Hotels Located In Georgia Up For Sale” was originally published on Connect CRE.
