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.

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Hotel Optimization Part 3 | January 27, 2021

With 2020 behind us and widespread vaccine distribution on the horizon, the second half of the new year is looking up, but for Q1 (and most likely well into Q2) we’re very much still in the thick of what has undeniably been the lowest point of the pandemic. What can you be doing now to power through and set yourself up for a prosperous 2021 and beyond? Join us at Part 3 of Hotel Optimization – A Virtual Event on January 27 from 10am – 1:05pm ET for expert panels focused on getting you back to profitability.