Ashford Hospitality Trust Forms Special Committee to Evaluate Strategic Alternatives

Written by Emily J. Thompson, Senior Investment Analyst

Updated: Dec 09 2025

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Should l Buy AHT?

Ashford Hospitality Trust announced that its Board of Directors has formed a Special Committee to evaluate strategic alternatives to maximize shareholder value, including a potential transaction. "We've been highly encouraged by our success to date in executing our plan to drive outsized EBITDA growth, strategically sell assets, and strengthen our balance sheet," said President and Chief Executive Officer Stephen Zsigray. "However, we remain frustrated by the discrepancy between the value of our underlying portfolio and the market value of our common stock, and the Board has tasked the Special Committee with proactively exploring alternatives to bridge that gap." In conjunction with forming the Special Committee, the company has also terminated the current offering of its Series L and M Non-Traded Preferred Stock and suspended redemptions for all of its outstanding non-traded preferred stock.

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About AHT

Ashford Hospitality Trust, Inc. is a real estate investment trust (REIT). The Company's portfolio consists of upscale hotels and upper upscale full-service hotels. The Company owns its lodging investments and conducts its business through Ashford Hospitality Limited Partnership (Ashford Trust OP). Its hotel properties are primarily branded under the brands of Hilton, Hyatt, Marriott and Intercontinental Hotel Group. The Company operates through one segment: direct hotel investments. It has a portfolio consisting of approximately 68 consolidated operating hotel properties, which represent over 16,736 total rooms. It owns a 15.1 % ownership in OpenKey, Inc. It owns four consolidated operating hotel properties, which represent 405 total rooms owned through a 99.0% ownership interest in Stirling REIT OP, LP (Stirling OP). The Company also has an investment in an entity that owns the Meritage Resort and Spa and the Grand Reserve at the Meritage (the Meritage Investment) in Napa, California.

About the author

Emily J. Thompson

Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.

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Mar 06 2026PRnewswire

Executive Retirement: Ashford Inc. announced that CFO Deric Eubanks will retire in June 2026 after a 23-year career, highlighting the company's commitment to executive stability and continuity.
Transition Plan: Eubanks will step down as CFO on March 31, 2026, but will continue as Senior Managing Director to assist with financial and transitional matters until June 30, ensuring a smooth leadership transition.
Leadership Confidence: Eubanks expressed confidence in the company's future, emphasizing the capability of the team and the soundness of the strategy, which enhances investor confidence in the company's ongoing development.
Succession Plan: Following Eubanks' departure, current Chief Accounting Officer Justin Coe will assume the role of CFO, ensuring continuity and stability in financial management, reflecting the company's focus on future leadership.

Ashford Inc. CFO Deric Eubanks to Retire After 23 Years

Mar 06 2026Newsfilter

Executive Retirement: Ashford Inc. announced that CFO Deric Eubanks will retire in June 2026, concluding a 23-year career during which he played a pivotal role in various key positions, ensuring financial stability for the company.
Transition Plan: Eubanks will officially step down as CFO on March 31, 2026, but will continue as Senior Managing Director to assist with financial and transitional matters until June 30, ensuring a smooth leadership transition.
Leadership Confidence: Ashford Chairman Monty Bennett noted that Eubanks has demonstrated unwavering commitment to the strategic processes over the past 12 years as CFO, leaving the company in a strong financial position, reflecting his significant impact on leadership.
Succession Strategy: Following Eubanks' departure, current Chief Accounting Officer Justin Coe will assume the role of Principal Financial Officer for the company and its advised REITs, ensuring continuity and stability in financial management while further solidifying the company's strategic foundation.

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Retirement Announcement: Ashford has announced the planned retirement of Chief Financial Officer Deric Eubanks.
Impact on Leadership: Eubanks' retirement may lead to changes in the company's financial leadership and strategy moving forward.

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Mar 02 2026PRnewswire

Board Member's Passing: Ashford Hospitality Trust announced with great sadness the passing of board member Davinder 'Sonny' Sra on February 25, 2026, which has left a profound loss for the company, as stated by executive chairman Monty Bennett.
Significant Industry Contribution: Since joining the board in July 2023, Sonny brought 25 years of operational hospitality experience, providing invaluable guidance to the company, especially during unprecedented challenges in the hospitality sector.
Personal Charisma and Impact: Sonny was respected and loved by colleagues for his passionate work ethic and genuine care, and his infectious smile and wise counsel will be greatly missed by the Ashford family, leaving a significant void.
Company Background: Ashford Hospitality Trust is a real estate investment trust (REIT) focused on investing in upscale, full-service hotels, and the passing of a board member may impact the company's operations and strategic direction.

Ashford Hospitality Trust Board Member Passes Away

Mar 02 2026Newsfilter

Board Member's Passing: Ashford Hospitality Trust announced with great sadness the passing of board member Davinder 'Sonny' Sra on February 25, 2026, marking a significant loss for the company, as expressed by executive chairman Monty Bennett, who emphasized Sonny's profound and irreplaceable impact.
Significant Industry Contribution: Since joining the board in July 2023, Sonny leveraged his 25 years of operational experience in the hospitality sector to provide invaluable guidance, particularly during unprecedented challenges faced by the industry.
Team Spirit and Influence: Sonny's positive spirit and wise counsel had a lasting impact within the company, and his departure has left a void felt by all colleagues, especially his family and friends.
Company Background: Ashford Hospitality Trust is a real estate investment trust (REIT) focused on investing in upscale, full-service hotels, and the changes in its board may affect the company's strategic direction and operational stability.

Ashford (AHT) Q4 2025 Earnings Call Transcript

Feb 26 2026NASDAQ.COM

Ashford Inc. CFO Deric Eubanks to Retire After 23 Years

Mar 06 2026PRnewswire

Executive Retirement: Ashford Inc. announced that CFO Deric Eubanks will retire in June 2026 after a 23-year career, highlighting the company's commitment to executive stability and continuity.
Transition Plan: Eubanks will step down as CFO on March 31, 2026, but will continue as Senior Managing Director to assist with financial and transitional matters until June 30, ensuring a smooth leadership transition.
Leadership Confidence: Eubanks expressed confidence in the company's future, emphasizing the capability of the team and the soundness of the strategy, which enhances investor confidence in the company's ongoing development.
Succession Plan: Following Eubanks' departure, current Chief Accounting Officer Justin Coe will assume the role of CFO, ensuring continuity and stability in financial management, reflecting the company's focus on future leadership.

Ashford Inc. CFO Deric Eubanks to Retire After 23 Years

Mar 06 2026Newsfilter

Executive Retirement: Ashford Inc. announced that CFO Deric Eubanks will retire in June 2026, concluding a 23-year career during which he played a pivotal role in various key positions, ensuring financial stability for the company.
Transition Plan: Eubanks will officially step down as CFO on March 31, 2026, but will continue as Senior Managing Director to assist with financial and transitional matters until June 30, ensuring a smooth leadership transition.
Leadership Confidence: Ashford Chairman Monty Bennett noted that Eubanks has demonstrated unwavering commitment to the strategic processes over the past 12 years as CFO, leaving the company in a strong financial position, reflecting his significant impact on leadership.
Succession Strategy: Following Eubanks' departure, current Chief Accounting Officer Justin Coe will assume the role of Principal Financial Officer for the company and its advised REITs, ensuring continuity and stability in financial management while further solidifying the company's strategic foundation.

ASHFORD DECLARES INTENT TO RETIRE OF CFO DERIC EUBANKS

Mar 06 2026moomoo

Retirement Announcement: Ashford has announced the planned retirement of Chief Financial Officer Deric Eubanks.
Impact on Leadership: Eubanks' retirement may lead to changes in the company's financial leadership and strategy moving forward.

Ashford Hospitality Trust Board Member Passes Away

Mar 02 2026PRnewswire

Board Member's Passing: Ashford Hospitality Trust announced with great sadness the passing of board member Davinder 'Sonny' Sra on February 25, 2026, which has left a profound loss for the company, as stated by executive chairman Monty Bennett.
Significant Industry Contribution: Since joining the board in July 2023, Sonny brought 25 years of operational hospitality experience, providing invaluable guidance to the company, especially during unprecedented challenges in the hospitality sector.
Personal Charisma and Impact: Sonny was respected and loved by colleagues for his passionate work ethic and genuine care, and his infectious smile and wise counsel will be greatly missed by the Ashford family, leaving a significant void.
Company Background: Ashford Hospitality Trust is a real estate investment trust (REIT) focused on investing in upscale, full-service hotels, and the passing of a board member may impact the company's operations and strategic direction.

Ashford Hospitality Trust Board Member Passes Away

Mar 02 2026Newsfilter

Board Member's Passing: Ashford Hospitality Trust announced with great sadness the passing of board member Davinder 'Sonny' Sra on February 25, 2026, marking a significant loss for the company, as expressed by executive chairman Monty Bennett, who emphasized Sonny's profound and irreplaceable impact.
Significant Industry Contribution: Since joining the board in July 2023, Sonny leveraged his 25 years of operational experience in the hospitality sector to provide invaluable guidance, particularly during unprecedented challenges faced by the industry.
Team Spirit and Influence: Sonny's positive spirit and wise counsel had a lasting impact within the company, and his departure has left a void felt by all colleagues, especially his family and friends.
Company Background: Ashford Hospitality Trust is a real estate investment trust (REIT) focused on investing in upscale, full-service hotels, and the changes in its board may affect the company's strategic direction and operational stability.