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Ashford Hospitality Trust (AHT) investor relations material
Ashford Hospitality Trust Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary5 Nov, 2025
Executive summary
Comparable hotel EBITDA grew 2% year-over-year despite industry-wide RevPAR declines and margin pressure, reaching $68.9 million.
Portfolio consisted of 70 hotels (16,876 rooms) as of September 30, 2025, with a focus on capital preservation, liquidity, and non-core asset dispositions.
Strategic GRO AHT initiative targets $50 million in run-rate EBITDA improvement through G&A reduction, revenue maximization, and operational efficiency.
Dispositions and refinancing activities, including multiple hotel sales and loan extensions, have improved capital structure and are expected to enhance cash flow.
Key priorities included asset sales, refinancing, amendments to advisory and credit agreements, and selective acquisitions.
Financial highlights
Net loss attributable to common stockholders was $69 million, or $11.35 per diluted share, for Q3 2025.
Total revenue for Q3 2025 was $266.1 million, down 3.8% year-over-year.
Adjusted EBITDAre for the quarter was $45.4 million; AFFO per diluted share was -$2.85.
Cash and cash equivalents stood at $81.9 million, with restricted cash of $166.9 million at quarter-end.
Net working capital was $144.3 million at quarter-end.
Outlook and guidance
Management expects to maintain liquidity, focus on refinancing upcoming debt maturities, and pursue further asset sales.
No common dividend anticipated for 2025; preferred dividends continue.
Each 25 basis point interest rate cut is expected to save over $6 million in annual interest expense.
Strong group demand expected in 2026, especially due to the FIFA World Cup, with 42% of rooms in host cities.
Management anticipates continued EBITDA growth and potential outperformance if short-term rates decline.
Quantify GRO AHT's EBITDA contribution YTD
Floating rate debt: Refinancing strategy?
Targeted leverage impact from future dispositions?
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Next Ashford Hospitality Trust earnings date
Q4 202525 Feb, 2026
Next Ashford Hospitality Trust earnings date
Q4 202525 Feb, 2026
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Frequently asked questions
Ashford Hospitality Trust Inc is a real estate investment trust (REIT) focused on investing in upscale, full-service hotels. The company’s portfolio primarily consists of hotels operating under premium brands and located in major metropolitan markets across the United States. Ashford Hospitality Trust operates within the real estate and hospitality sectors. The company is headquartered in Dallas, Texas, and its shares are listed on the NYSE.
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