ASHFORD HOSPITALITY TRUST INC

For the period ended Dec 31, 2023. Filed Mar 14, 2024.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2023 · Filed Mar 14, 2024

AHT$2.370.0%Stored close · as of Nov 9, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

See the whole filing, with its images and exhibits

Contents

SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized, on March 14, 2024.

ASHFORD HOSPITALITY TRUST, INC.
By:	/s/ J. ROBISON HAYS, III
	J. Robison Hays, III
	President and Chief Executive Officer

Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below on behalf of the Registrant in the capacities and on the dates indicated.

Monty J. Bennett
Signature	Title	Date
/s/ MONTY J. BENNETT	Chairman of the Board of Directors	March 14, 2024
/s/ J. ROBISON HAYS, III	President and Chief Executive Officer (Principal Executive Officer)	March 14, 2024
J. Robison Hays, III
/s/ DERIC S. EUBANKS	Chief Financial Officer (Principal Financial Officer)	March 14, 2024
Deric S. Eubanks
/s/ JUSTIN R. COE	Chief Accounting Officer (Principal Accounting Officer)	March 14, 2024
Justin R. Coe
/s/ BENJAMIN J. ANSELL, M.D.	Director	March 14, 2024
Benjamin J. Ansell, M.D.
/s/ FREDERICK J. KLEISNER	Director	March 14, 2024
Frederick J. Kleisner
/s/ AMISH GUPTA	Director	March 14, 2024
Amish Gupta
/s/ KAMAL JAFARNIA	Director	March 14, 2024
Kamal Jafarnia
/s/ SHERI L. PANTERMUEHL	Director	March 14, 2024
Sheri L. Pantermuehl
/s/ DAVINDER SRA	Director	March 14, 2024
Davinder Sra
/s/ ALAN L. TALLIS	Director	March 14, 2024
Alan L. Tallis

SCHEDULE III

REAL ESTATE AND ACCUMULATED DEPRECIATION

December 31, 2023

(dollars in thousands)

Column A · Column B · Column C · Column D · Column E · Column F · Column G · Column H · Column I
Initial Cost · Costs Capitalized Since Acquisition · Gross Carrying AmountAt Close of Period (6)
Hotel Property	Location	Encumbrances	Land	FF&E,Buildings andImprovements	Land	FF&E,Buildings andImprovements	Land	FF&E,Buildings andImprovements	Total	AccumulatedDepreciation	ConstructionDate	AcquisitionDate	IncomeStatement
Embassy Suites	Austin, TX	$22,848	$1,204	$9,388	$193	$8,954	$1,397	$18,342	$19,739	$8,614	08/1998		(1), (2), (3)
Embassy Suites	Dallas, TX	15,123	1,878	8,907	238	10,324	2,116	19,231	21,347	8,777	12/1998		(1), (2), (3)
Embassy Suites	Herndon, VA	22,674	1,303	9,836	277	5,138	1,580	14,974	16,554	9,670	12/1998		(1), (2), (3)
Embassy Suites	Las Vegas, NV	29,613	3,307	16,952	397	4,992	3,704	21,944	25,648	14,141	05/1999		(1), (2), (3)
Embassy Suites	Houston, TX	17,417	1,799	10,404	—	3,920	1,799	14,324	16,123	7,231		03/2005	(1), (2), (3)
Embassy Suites	West Palm Beach, FL	19,365	3,277	13,949	—	5,008	3,277	18,957	22,234	8,618		03/2005	(1), (2), (3)
Embassy Suites	Philadelphia, PA	21,345	5,791	34,819	—	4,087	5,791	38,906	44,697	17,809		12/2006	(1), (2), (3)
Embassy Suites	Arlington, VA	40,487	36,065	41,588	—	9,638	36,065	51,226	87,291	23,831		04/2007	(1), (2), (3)
Embassy Suites	Portland, OR	77,241	11,110	60,048	—	7,927	11,110	67,975	79,085	28,855		04/2007	(1), (2), (3)
Embassy Suites	Santa Clara, CA	58,903	8,948	46,239	—	7,927	8,948	54,166	63,114	24,345		04/2007	(1), (2), (3)
Embassy Suites	Orlando, FL	19,675	5,674	21,593	—	6,339	5,674	27,932	33,606	12,926		04/2007	(1), (2), (3)
Hilton Garden Inn	Jacksonville, FL	11,496	1,751	9,164	—	2,131	1,751	11,295	13,046	6,120		11/2003	(1), (2), (3)
Hilton Garden Inn	Austin, TX	62,970	7,605	48,725	—	510	7,605	49,235	56,840	12,368		03/2015	(1), (2), (3)
Hilton Garden Inn	Baltimore, MD	15,413	4,027	20,199	—	3,361	4,027	23,560	27,587	7,715		03/2015	(1), (2), (3)
Hilton Garden Inn	Virginia Beach, VA	30,545	4,101	26,329	—	471	4,101	26,800	30,901	6,370		03/2015	(1), (2), (3)
Hilton	Ft. Worth, TX	42,854	4,538	13,922	—	16,226	4,539	30,148	34,687	16,785		03/2005	(1), (2), (3)
Hilton	Houston, TX	19,509	2,200	13,247	—	5,703	2,200	18,949	21,150	9,916		03/2005	(1), (2), (3)
Hilton	St. Petersburg, FL	47,654	2,991	13,907	(1,130)	12,795	1,861	26,702	28,563	12,137		03/2005	(1), (2), (3)
Hilton	Santa Fe, NM	23,829	7,004	10,689	—	2,838	7,004	13,527	20,531	6,734		12/2006	(1), (2), (3)
Hilton	Bloomington, MN	32,348	5,685	59,139	—	5,613	5,685	64,752	70,437	28,720		04/2007	(1), (2), (3)
Hilton	Costa Mesa, CA	57,358	12,917	91,791	—	7,978	12,917	99,769	112,686	44,077		04/2007	(1), (2), (3)
Hilton	Boston, MA	98,000	62,555	134,407	—	4,872	62,556	139,279	201,834	34,658		03/2015	(1), (2), (3)
Hilton	Parsippany, NJ	36,184	7,293	58,098	—	(147)	7,293	57,951	65,244	14,521		03/2015	(1), (2), (3)
Hilton	Tampa, FL	26,081	5,206	21,186	—	5,298	5,206	26,484	31,690	10,940		03/2015	(1), (2), (3)
Hilton	Alexandria, VA	62,753	14,459	96,602	—	1,338	14,459	97,940	112,399	15,312		06/2018	(1), (2), (3)
Hilton	Santa Cruz, CA	22,742	9,399	38,129	—	2,055	9,399	40,184	49,583	7,291		02/2019	(1), (2), (3)
Hampton Inn	Lawrenceville, GA	—	697	3,808	—	1,426	697	5,234	5,931	2,771		11/2003	(1), (2), (3)
Hampton Inn	Evansville, IN	10,872	1,301	5,034	—	8,532	1,301	13,566	14,867	4,220		09/2004	(1), (2), (3)
Hampton Inn	Parsippany, NJ	17,716	3,268	24,306	—	17	3,268	24,323	27,591	6,044		03/2015	(1), (2), (3)
Hampton Inn	Buford, GA	10,000	1,168	5,338	—	3,732	1,168	9,070	10,238	5,354		07/2004	(1), (2), (3)
Marriott	Beverly Hills, CA	111,129	6,510	22,061	—	3,411	6,510	25,472	31,982	12,699		03/2005	(1), (2), (3)
Marriott	Arlington, VA	86,000	20,637	101,376	—	21,928	20,637	123,304	143,941	62,838		07/2006	(1), (2), (3)
Marriott	Dallas, TX	27,439	2,701	30,893	—	5,883	2,701	36,776	39,477	16,108		04/2007	(1), (2), (3)
Marriott	Fremont, CA	43,438	5,800	44,200	—	15,847	5,800	60,047	65,847	20,598		08/2014	(1), (2), (3)

Column A · Column B · Column C · Column D · Column E · Column F · Column G · Column H · Column I
Initial Cost · Costs Capitalized Since Acquisition · Gross Carrying AmountAt Close of Period (6)
Hotel Property · Location · Encumbrances · Land · FF&E,Buildings andImprovements · Land · FF&E,Buildings andImprovements · Land · FF&E,Buildings andImprovements · Total · AccumulatedDepreciation · ConstructionDate · AcquisitionDate · IncomeStatement
Marriott	Memphis, TN	20,113	6,210	37,284	—	(1,978)	6,210	35,306	41,516	8,510	02/2015	(1), (2), (3)
Marriott	Irving, TX	63,346	8,330	82,272	—	19,913	8,330	102,185	110,515	34,011	03/2015	(1), (2), (3)
Marriott	Omaha, NE	15,061	6,641	49,887	—	6,225	6,641	56,112	62,753	17,061	03/2015	(1), (2), (3)
Marriott	Sugarland, TX	59,211	9,047	84,043	—	8,185	9,047	92,227	101,275	21,178	03/2015	(1), (2), (3)
Marriott white label (7)	Key West, FL	56,756	—	27,514	—	27,658	—	55,172	55,172	17,056	03/2005	(1), (2), (3)
SpringHill Suites by Marriott	Baltimore, MD	13,600	2,502	13,206	—	1,793	2,502	14,999	17,501	7,758	05/2004	(1), (2), (3)
SpringHill Suites by Marriott	Kennesaw, GA	6,133	1,106	5,021	—	1,741	1,107	6,762	7,868	3,678	07/2004	(1), (2), (3)
SpringHill Suites by Marriott	Buford, GA	4,500	1,132	6,089	—	6,874	1,132	12,963	14,095	4,501	07/2004	(1), (2), (3)
SpringHill Suites by Marriott	Manhattan Beach, CA	28,560	5,726	21,187	—	1,220	5,726	22,407	28,133	9,693	04/2007	(1), (2), (3)
SpringHill Suites by Marriott	Plymouth Meeting, PA	20,800	3,210	24,578	—	1,740	3,210	26,318	29,528	11,393	04/2007	(1), (2), (3)
Fairfield Inn by Marriott	Kennesaw, GA	4,811	840	4,359	(21)	2,467	819	6,826	7,645	4,003	07/2004	(1), (2), (3)
Courtyard by Marriott	Bloomington, IN	13,933	900	10,741	—	1,157	900	11,898	12,798	5,919	09/2004	(1), (2), (3)
Courtyard by Marriott - Tremont	Boston, MA	97,368	24,494	85,246	—	2,083	24,494	87,329	111,823	22,433	03/2015	(1), (2), (3)
Courtyard by Marriott	Columbus, IN	8,160	673	4,804	—	1,424	673	6,228	6,901	3,033	09/2004	(1), (2), (3)
Courtyard by Marriott	Denver, CO	31,720	9,342	29,656	—	903	9,342	30,559	39,901	8,681	03/2015	(1), (2), (3)
Courtyard by Marriott	Gaithersburg, MD	27,162	5,128	30,522	—	836	5,128	31,358	36,486	7,947	03/2015	(1), (2), (3)
Courtyard by Marriott	Crystal City, VA	41,599	5,411	38,610	—	7,428	5,411	46,038	51,449	23,189	06/2005	(1), (2), (3)
Courtyard by Marriott	Overland Park, KS	8,009	1,868	14,030	—	1,784	1,868	15,814	17,682	7,559	06/2005	(1), (2), (3)
Courtyard by Marriott	Foothill Ranch, CA	21,255	2,447	16,005	—	1,441	2,447	17,446	19,893	8,271	06/2005	(1), (2), (3)
Courtyard by Marriott	Alpharetta, GA	19,230	2,244	12,345	—	1,606	2,244	13,951	16,195	6,536	06/2005	(1), (2), (3)
Courtyard by Marriott	Oakland, CA	28,240	5,112	19,429	—	1,313	5,112	20,742	25,854	9,185	04/2007	(1), (2), (3)
Courtyard by Marriott	Scottsdale, AZ	23,600	3,700	22,134	—	2,456	3,700	24,589	28,290	10,807	04/2007	(1), (2), (3)
Courtyard by Marriott	Plano, TX	18,160	2,115	22,360	—	2,079	2,115	24,439	26,554	10,568	04/2007	(1), (2), (3)
Courtyard by Marriott	Newark, CA	34,960	2,863	10,723	—	2,033	2,864	12,756	15,619	5,459	04/2007	(1), (2), (3)
Courtyard by Marriott	Manchester, CT	5,613	1,301	7,430	—	979	1,301	8,409	9,710	3,897	04/2007	(1), (2), (3)
Courtyard by Marriott	Basking Ridge, NJ	41,600	5,419	45,304	—	3,437	5,419	48,741	54,160	21,511	04/2007	(1), (2), (3)
Marriott Residence Inn	Evansville, IN	7,658	961	5,972	—	548	961	6,520	7,481	3,306	09/2004	(1), (2), (3)
Marriott Residence Inn	Orlando, FL	23,395	6,554	40,539	—	10,798	6,554	51,337	57,891	26,760	06/2005	(1), (2), (3)
Marriott Residence Inn	Falls Church, VA	25,573	2,752	34,979	—	3,727	2,752	38,706	41,458	18,329	06/2005	(1), (2), (3)
Marriott Residence Inn	San Diego, CA	28,635	3,156	29,514	—	1,980	3,156	31,494	34,650	15,155	06/2005	(1), (2), (3)
Marriott Residence Inn (8)	Salt Lake City, UT	14,388	1,897	16,357	—	2,989	1,894	19,349	21,243	9,297	06/2005	(1), (2), (3)
Marriott Residence Inn	Las Vegas, NV	38,160	18,177	39,568	(6,185)	(16,376)	11,991	23,192	35,183	6,713	04/2007	(1), (2), (3), (4)
Marriott Residence Inn	Phoenix, AZ	23,680	4,100	23,187	—	8,995	4,100	32,182	36,282	12,451	04/2007	(1), (2), (3)
Marriott Residence Inn	Plano, TX	14,160	2,045	16,869	—	1,259	2,045	18,128	20,173	7,870	04/2007	(1), (2), (3)
Marriott Residence Inn	Newark, CA	37,760	3,272	11,706	—	2,108	3,272	13,814	17,086	6,192	04/2007	(1), (2), (3)
Marriott Residence Inn	Manchester, CT	7,700	1,462	8,306	—	3,079	1,462	11,385	12,847	4,363	04/2007	(1), (2), (3)
Marriott Residence Inn	Jacksonville, FL	8,000	1,997	16,084	—	5,044	1,997	21,128	23,125	10,507	05/2007	(1), (2), (3)
Tribute Portfolio	Santa Fe, NM	35,697	8,094	42,058	—	4,453	8,094	46,511	54,605	7,982	10/2018	(1), (2), (3)
TownePlace Suites by Marriott	Manhattan Beach, CA	23,680	4,805	17,543	—	1,660	4,805	19,203	24,008	8,408	04/2007	(1), (2), (3)

Column A · Column B · Column C · Column D · Column E · Column F · Column G · Column H · Column I
Initial Cost · Costs Capitalized Since Acquisition · Gross Carrying AmountAt Close of Period (6)
Hotel Property · Location · Encumbrances · Land · FF&E,Buildings andImprovements · Land · FF&E,Buildings andImprovements · Land · FF&E,Buildings andImprovements · Total · AccumulatedDepreciation · ConstructionDate · AcquisitionDate · IncomeStatement
Ritz-Carlton	Atlanta, GA	93,045	2,477	80,139	—	18,398	2,477	98,537	101,014	30,962	03/2015	(1), (2), (3)
One Ocean	Atlantic Beach, FL	51,990	5,815	14,817	—	5,056	5,815	19,873	25,688	11,043	04/2004	(1), (2), (3)
Renaissance	Nashville, TN	207,000	20,671	158,260	—	31,761	20,671	190,021	210,692	56,282	03/2015	(1), (2), (3)
Renaissance	Palm Springs, CA	48,966	—	74,112	—	5,198	—	79,310	79,310	22,359	03/2015	(1), (2), (3)
Sheraton Hotel	Minneapolis, MN	18,283	2,953	14,280	—	1,514	2,953	15,794	18,747	7,714	03/2005	(1), (2), (3)
Sheraton Hotel	Indianapolis, IN	57,970	3,100	22,041	—	10,880	3,100	32,921	36,021	16,715	03/2005	(1), (2), (3)
Sheraton Hotel	Anchorage, AK	19,584	4,023	39,363	—	7,680	4,023	47,043	51,066	22,367	12/2006	(1), (2), (3)
Sheraton Hotel	San Diego, CA	24,993	7,294	36,382	—	2,805	7,294	39,187	46,481	17,226	12/2006	(1), (2), (3)
Hyatt Regency	Coral Gables, FL	43,683	4,805	50,820	—	13,330	4,805	64,150	68,955	29,999	04/2007	(1), (2), (3)
Hyatt Regency	Hauppauge, NY	34,304	6,284	35,669	—	446	6,284	36,115	42,399	13,322	03/2015	(1), (2), (3)
Hyatt Regency	Savannah, GA	65,789	14,041	72,721	—	7,757	14,041	80,478	94,519	23,196	03/2015	(1), (2), (3)
Annapolis Historic Inn	Annapolis, MD	16,296	3,028	7,833	—	2,214	3,028	10,047	13,075	5,146	03/2005	(1), (2), (3)
Lakeway Resort & Spa	Austin, TX	14,523	4,541	28,940	—	1,789	4,541	30,729	35,270	10,410	02/2015	(1), (2), (3)
Silversmith	Chicago, IL	26,363	4,782	22,398	—	(1,742)	4,782	20,656	25,438	6,030	03/2015	(1), (2), (3)
The Churchill	Washington, DC	39,074	25,898	32,304	—	4,154	25,898	36,458	62,356	11,043	03/2015	(1), (2), (3)
The Melrose	Washington, DC	71,710	29,277	62,507	—	(1,156)	29,277	61,351	90,628	14,611	03/2015	(1), (2), (3)
Le Pavillon	New Orleans, LA	37,000	10,933	51,549	(2,601)	17,731	8,332	69,280	77,612	18,260	06/2015	(1), (2), (3)
The Ashton	Ft. Worth, TX	8,881	800	7,187	—	552	800	7,739	8,539	2,205	07/2014	(1), (2), (3)
Westin	Princeton, NJ	33,000	6,475	52,195	—	3,497	6,475	55,692	62,167	15,298	03/2015	(1), (2), (3)
Atlanta Hotel Indigo	Atlanta, GA	13,759	3,230	23,713	—	3,122	3,230	26,835	30,065	7,592	10/2015	(1), (2), (3)
Le Meridien (9)	Fort Worth, TX	41,563	4,609	82,749	—	—	4,609	82,749	87,358	—		(1), (2), (3)
Total(5)		$3,210,783	$616,238	$3,163,713	$(8,832)	$478,119	$607,406	$3,641,832	$4,249,238	$1,302,063

(1)Estimated useful life for buildings is 39 years.

(2)Estimated useful life for building improvements is 7.5 years.

(3)Estimated useful life for furniture and fixtures is 1.5 to 5 years.

(4)Amounts include impairment charges.

(5)Hilton Marietta is not included in this schedule as it is operated through a lease.

(6)The cost of land and depreciable property, net of accumulated depreciation, for U.S. federal income tax purposes was approximately $2.8 billion as of December 31, 2023.

(7)The Company entered into a new franchise agreement with Marriott to convert the Le Pavillon in New Orleans, Louisiana to a Tribute Portfolio property. The agreement with Marriott calls for the hotel to be converted to a Tribute Portfolio property by December 31, 2024.

(8) Hotel property was held for sale as of December 31, 2023.

(9)Hotel property is under development.

	Year Ended December 31,
	2023	2022	2021
Investment in Real Estate:
Beginning balance	$4,546,384	$4,663,153	$4,798,605
Additions	206,737	125,244	40,789
Impairment/write-offs	(194,343)	(195,736)	(151,753)
Sales/disposals	(292,268)	(46,277)	(24,488)
Assets held for sale	(21,246)	—	—
Ending balance	$4,245,264	$4,546,384	$4,663,153
Accumulated Depreciation:
Beginning balance	1,428,053	1,432,443	1,371,623
Depreciation expense	188,021	201,926	219,112
Impairment/write-offs	(194,343)	(195,736)	(151,753)
Sales/disposals	(119,102)	(10,580)	(6,539)
Assets held for sale	(9,297)	—	—
Ending balance	$1,293,332	$1,428,053	$1,432,443
Investment in Real Estate, net	$2,951,932	$3,118,331	$3,230,710

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.