Ashford Trust now spinning off asset management platform

Ashford Hospitality Trust has approved a plan to spin-off its asset management business into a separate publicly traded company in the form of a taxable distribution. The distribution is expected to be completed in the third quarter of 2014 and will be comprised of common stock in Ashford, a newly formed or successor company of the company's existing advisor subsidiary, Ashford Hospitality Advisors LLC, which currently advises Ashford Hospitality Prime. 

The company plans to file a listing application for Ashford Inc. with the NYSE or NYSE MKT Exchanges. In connection with the spin-off, it is anticipated that Ashford Inc. will enter into a 20-year advisory agreement to externally advise the company. In addition, Ashford Inc. will continue to externally advise Ashford Prime.  

In June, Ashford spun off eight of its top revenue-per-available-room hotels into a new real estate investment trust, Ashford Hospitality Prime, which look to invest primarily in the upscale through luxury segments in gateway markets. It's latest acquisiton was the Sofitel Chicago Water Tower for $153 million.

Virtual Event


Survival in these times is highly dependent on a hotel's ability to quickly adapt and pivot their business to meet the current needs of travelers and the surrounding community. Join us for Optimization Part 2 – a FREE virtual event – as we bring together top players in the industry to discuss alternative uses when occupancy is down, ways to boost F&B revenue, how to help your staff adjust to new challenges and more, in a series of panels focused on how you can regain profitability during this crisis.



Suggested Articles

The Waldorf Astoria Monarch Beach Resort & Club has 400 guestrooms and an 18-hole golf course.

Representatives from state hotel and lodging associations as well as hotel owners put human faces on the travel downturn.

The first HospitalityVIEW meeting reached a consensus that technology innovation will be a driving force to lead the industry out of the downturn.