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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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.
Ashford Hospitality Trust Announces 2025 Preferred Share Dividend Information
- Dividend Amount Disclosure: Ashford Hospitality Trust announced its preferred share dividends for 2025, with Series D at $2.1124 per share and Series F and G at $1.8436 each, indicating the company's ongoing efforts to maintain stable cash flow.
- Tax Reporting Preparation: The company will issue Form 1099-DIV in compliance with IRS regulations, ensuring shareholders can accurately report the tax implications of the 2025 dividends, reflecting the company's commitment to compliance.
- Unpaid Dividend Statement: Dividends declared for shareholders of record as of December 31, 2025, remain unpaid, with expectations for prompt payment, which may impact shareholders' cash flow and investment decisions.
- Investor Consultation Advice: The company encourages shareholders to consult tax advisors regarding the federal and local tax implications of the dividends, demonstrating the company's focus on shareholder interests and support.
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Ashford Hospitality Trust Under Investigation for Securities Fraud
- Investigation Launched: Pomerantz LLP is investigating whether Ashford Hospitality Trust and its executives have engaged in securities fraud or other unlawful business practices, which could undermine investor confidence and lead to stock price volatility.
- Loan Extension: On January 13, 2026, Ashford announced it has extended its Highland mortgage loan secured by 18 hotels, aiming to evaluate strategic alternatives and preserve liquidity, indicating financial pressure on the company.
- Dividend Suspension: To maintain liquidity, the company has suspended preferred dividends, including those for Series D, F, G, H, I, J, K, L, and M preferred stock as of December 31, 2025, which may displease investors and affect future financing capabilities.
- Stock Price Decline: Following the dividend suspension announcement, Ashford's stock price fell by $0.35, or 8.1%, closing at $3.97 per share on January 13, 2026, reflecting market concerns regarding the company's financial health.
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