ASHFORD HOSPITALITY TRUST ANNOUNCES EXTENSION OF MORTGAGE LOAN SECURED BY THE LE PAVILLON HOTEL

DALLAS, Dec. 19, 2024 /PRNewswire/ -- Ashford Hospitality Trust, Inc. (NYSE: AHT) ("Ashford Trust" or the "Company") announced today that it has successfully extended its mortgage loan secured by the 226-room Le Pavillon Hotel located in New Orleans, Louisiana. The loan had an initial maturity date in December of 2024 and has two additional one-year extension options, subject to the satisfaction of certain conditions, with a final maturity date in December 2027. The loan has been extended with no paydown and continues to have an outstanding balance of $37.0 million.

"We are pleased to announce the extension of this loan," commented Stephen Zsigray, Ashford Trust's President and Chief Executive Officer. "We are also excited about the recent conversion of this hotel to Marriott's Tribute Portfolio and expect performance to ramp up quickly post conversion."

Ashford Hospitality Trust is a real estate investment trust (REIT) focused on investing predominantly in upper upscale, full-service hotels.

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SOURCE Ashford Hospitality Trust, Inc.