Ashford Hospitality Trust closes on West Coast, Southwest hotels

Ashford Hospitality Trust is the new owner of the 57-room La Posada de Santa Fe in Santa Fe, N.M. Photo credit: La Posada de Santa Fe

Ashford Hospitality Trust entered into a definitive agreement to acquire the 157-room La Posada de Santa Fe in Santa Fe, N.M. The property will be acquired for $50 million.

The acquisition was announced during Ashford Hospitality’s investor day, along with the acquisition of the 178-room Hilton Scotts Valley/Santa Cruz in Santa Cruz, Calif., also for $50 million.

These are the second and third acquisitions Ashford Hospitality Trust has secured using partial financing with its Enhanced Return Funding Program. With regards to the Hilton Scotts Valley/Santa Cruz and La Posada de Santa Fe, ERFP contributed $5 million of the total $50-million price of both hotels.

FREE DAILY NEWSLETTER

Like this story? Subscribe to IHIF!

The hospitality industry turns to IHIF International Hotel Investment News as the must-read source for investment and development coverage worldwide. Sign up today to get inside the deal with the latest transactions, openings, financing, and more delivered to your inbox and read on the go.

Suggested Articles

Lindsay Jarvis began her career with AHC+Hospitality in 2008 as a front-desk agent at the Amway Grand Plaza in Grand Rapids, Mich.

Joseph Cavet has more than 15 years of leadership experience and previously held positions at the Plaza Hotel in New York City.

Lowe Enterprises' new management division is designed to be a smaller firm with a more intimate relationship with hotel partners.