DALLAS, Texas—Ashford Hospitality Trust, Inc. announced that it has closed on the sale of the 85-room Hampton Inn in Lawrenceville, Georgia for $8.1 million ($95,300 per key). The sale price represented a 6.0 percent capitalization rate on trailing 12-month net operating income through March 2024. All the net proceeds from the sale will be used for general corporate purposes including paying down the company’s strategic financing. The company also announced the transfer of the company’s […]

The post Ashford Hospitality Trust Closes on Hotel Sale, Gives Asset Update appeared first on LODGING Magazine.

This post was originally published on this site