0001232582-18-000059.txt : 20181101 0001232582-18-000059.hdr.sgml : 20181101 20181031185803 ACCESSION NUMBER: 0001232582-18-000059 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20181031 ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20181101 DATE AS OF CHANGE: 20181031 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ASHFORD HOSPITALITY TRUST INC CENTRAL INDEX KEY: 0001232582 STANDARD INDUSTRIAL CLASSIFICATION: REAL ESTATE INVESTMENT TRUSTS [6798] IRS NUMBER: 861062192 STATE OF INCORPORATION: MD FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-31775 FILM NUMBER: 181151467 BUSINESS ADDRESS: STREET 1: 14185 DALLAS PARKWAY SUITE 1100 CITY: DALLAS STATE: TX ZIP: 75254 BUSINESS PHONE: 9724909600 MAIL ADDRESS: STREET 1: 14185 DALLAS PARKWAY SUITE 1100 CITY: DALLAS STATE: TX ZIP: 75254 8-K 1 aht-laposada8xk10x31x18.htm 8-K Document


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 8-K
CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934

Date of Report (date of earliest event reported): October 31, 2018

ASHFORD HOSPITALITY TRUST, INC.
(Exact name of registrant as specified in its charter)

Maryland
 
001-31775
 
86-1062192
(State or other jurisdiction of incorporation or organization)
 
(Commission
File Number)
 
(IRS employer
identification number)
 
 
 
 
 
14185 Dallas Parkway, Suite 1100
 
 
 
 
Dallas, Texas
 
 
 
75254
(Address of principal executive offices)
 
 
 
(Zip code)

Registrant’s telephone number, including area code: (972) 490-9600

Check the appropriated box if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14-a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company    ¨
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.    ¨






ITEM 7.01     REGULATION FD DISCLOSURE
On October 31, 2018, Ashford Hospitality Trust, Inc. (“Ashford Trust” or the “Company”) announced that it has completed the previously announced acquisition of La Posada de Santa Fe (“La Posada”) located in Santa Fe, New Mexico, for total consideration of $50 million. This acquisition is the second transaction to benefit from the Enhanced Return Funding Program with Ashford Inc. In connection with the acquisition of La Posada, Ashford Inc. will provide Ashford Trust with $5 million of cash via the future purchase of hotel furniture, fixtures, and equipment at Ashford Trust properties.
The information in this Form 8-K and Exhibits attached hereto shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, except as shall be expressly set forth by specific reference in such filing. A copy of the press release is attached hereto as Exhibit 99.1.

ITEM 9.01     FINANCIAL STATEMENTS AND EXHIBITS

(d)    Exhibits
Exhibit Number         Description

99.1





SIGNATURE

Pursuant to the requirements of the Securities and Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Dated: October 31, 2018
    
 
ASHFORD HOSPITALITY TRUST, INC.
 
 
 
 
By:
/s/ ROBERT G. HAIMAN
 
 
Robert G. Haiman
 
 
Executive Vice President, General Counsel & Secretary



EX-99.1 2 aht-laposadapr10x31x18.htm EXHIBIT 99.1 Exhibit

EXHIBIT 99.1

trustdividendimagea12.gif
NEWS RELEASE

Contact:
Deric Eubanks
Jordan Jennings
Joe Calabrese
 
Chief Financial Officer
Investor Relations
Financial Relations Board
 
(972) 490-9600
(972) 778-9487
(212) 827-3772

ASHFORD TRUST COMPLETES ACQUISITION OF
THE LA POSADA DE SANTA FE HOTEL

DALLAS, October 31, 2018 -- Ashford Hospitality Trust, Inc. (NYSE: AHT) (“Ashford Trust” or the “Company”) announced today that it has completed the previously announced acquisition of La Posada de Santa Fe (“La Posada”) located in Santa Fe, New Mexico, for total consideration of $50 million. This acquisition is the second transaction to benefit from the Enhanced Return Funding Program (the “Program”) with Ashford Inc. (NYSE American: AINC). In connection with the acquisition of La Posada, Ashford Inc. will provide Ashford Trust with $5 million of cash via the future purchase of hotel furniture, fixtures, and equipment (“FF&E”) at Ashford Trust properties.
Santa Fe is a world class leisure market as well as New Mexico’s state capital. The city hosts numerous festivals throughout the year including: Fiestas de Santa Fe, the International Folk Art Market, the Santa Fe Wine and Chile Fiesta, and the Santa Fe Film Festival. Santa Fe is considered the third largest art market in the U.S. by sales. This 157-room hotel with 7,810 square feet of meeting space is part of Marriott’s Tribute Portfolio and is the only full service Marriott hotel in the market. The distinctively southwestern asset is within the city’s historic area and benefits from nearby art galleries, retail, restaurants, and cultural attractions. The hotel’s Spa Sage was ranked 4th in USA Today’s Best Hotel Spa rankings. This market has significant hurdles to entry, with no competitive full service hotels under construction. Remington Lodging will manage the hotel, and expects to achieve operational synergies in conjunction with existing operations in the Santa Fe market.



“We are pleased to complete the acquisition of La Posada which increases our ownership presence in the very attractive Santa Fe market,” said Douglas A. Kessler, Ashford Trust’s President and Chief Executive Officer. “This is our second transaction to utilize the Enhanced Return Funding Program with Ashford Inc. which should further improve the returns to our shareholders from this deal. Going forward, we expect this funding arrangement will be a clear competitive advantage for us as we continue to look for opportunities to grow our platform and increase stockholder value.”
Ashford Hospitality Trust is a real estate investment trust (REIT) focused on investing opportunistically in the hospitality industry in upper upscale, full-service hotels.
Ashford has created an Ashford App for the hospitality REIT investor community. The Ashford App is available for free download at Apple’s App Store and the Google Play Store by searching “Ashford.”
Certain statements and assumptions in this press release contain or are based upon "forward-looking" information and are being made pursuant to the safe harbor provisions of the federal securities regulations. Forward looking statements in this press release may include, among others, statements about the Company’s strategy and future plans. When we use the words "will likely result," "may," "anticipate," "estimate," "should," "expect," "believe," "intend," or similar expressions, we intend to identify forward-looking statements. Such statements are subject to numerous assumptions and uncertainties, many of which are outside Ashford Trust’s control.

These forward-looking statements are subject to known and unknown risks and uncertainties, which could cause actual results to differ materially from those anticipated, including, without limitation: general conditions of the capital markets and the market price of our common stock; changes in our business or investment strategy; availability, terms and deployment of capital; availability of qualified personnel; changes in our industry and the market in which we operate, interest rates or the general economy; our ability to successfully complete and integrate acquisitions, and manage our planned growth, and the degree and nature of our competition. These and other risk factors are more fully discussed in Ashford Trust’s filings with the Securities and Exchange Commission.

The forward-looking statements included in this press release are only made as of the date of this press release. The Company can give no assurance that these forward-looking statements will be attained or that any deviation will not occur. We are not obligated to publicly update or revise any forward-looking statements, whether as a result of new information, future events or circumstances, changes in expectations or otherwise.

-END-


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