Ashford Hospitality Trust Announces Board Changes

Published 23/05/2025, 21:18
Ashford Hospitality Trust Announces Board Changes

Ashford Hospitality Trust Inc . (NYSE:AHT) reported on Monday, May 20, 2025, that Mr. J. Robison Hays (LON:HAYS), III has resigned from the Board of Directors effective immediately. The resignation was not due to any disagreement on the company’s operations, policies, or practices. The announcement comes as AHT faces challenging market conditions, with the stock down over 52% in the past year and trading at $6.04.

Subsequently, on Thursday, May 23, 2025, the company announced the appointment of Mr. Stephen Zsigray as a member of the Board. Mr. Zsigray, who currently serves as the Chief Executive Officer and President of Ashford Hospitality Trust, will assume his new role on the Board with immediate effect. He will continue his tenure until the next annual meeting of stockholders and until a successor is elected and qualified. Mr. Zsigray will not join any Board committees and will not receive additional compensation for his Board membership. According to InvestingPro data, the company faces profitability challenges with a weak financial health score and negative earnings forecast for 2025.

The company disclosed that Mr. Zsigray does not have any material direct or indirect interest in any transaction that would require disclosure under Item 404(a) of Regulation S-K. Further details on Mr. Zsigray’s background and compensation can be found in the company’s definitive proxy statement filed with the Securities and Exchange Commission on April 1, 2025.

This information is based on a press release statement. Ashford Hospitality Trust, headquartered in Dallas, Texas, is a real estate investment trust (REIT) focused on investing in the hospitality industry.

In other recent news, Ashford Hospitality Trust has released its financial results for the first quarter of 2025, reporting a net loss of $27.8 million. Despite the loss, the company noted a $30 million improvement in run-rate EBITDA, attributed to operational efficiencies and strategic initiatives. The company also highlighted a 3.2% growth in comparable RevPAR and an 8.7% increase in comparable hotel EBITDA. Ashford Hospitality Trust has made significant strides in capital structure improvements, including the sale of the Courtyard Boston Downtown for $123 million and refinancing several mortgage loans. Additionally, the company raised $212 million in gross proceeds from its non-traded preferred stock offering, which it plans to use for deleveraging and growth. Looking ahead, Ashford (NYSE:AINC) plans capital expenditures between $95 million and $115 million in 2025 and is exploring potential asset sales valued between $50 million and $75 million. Analysts from Oppenheimer and Company inquired about the company’s strategies to counteract softening government travel and the progress of the Grow AHT initiative, which aims to enhance operational performance. The company remains focused on cost reduction and operational efficiency, with no common dividend anticipated for 2025.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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