Ashford Hospitality Trust Targets $50M Annual Run-Rate EBITDA Growth Through $11M Hotel Expense Cuts and Ancillary Initiatives; Expects Completed Initiatives To Contribute Over $30M Per Year In Incremental EBITDA Towards Its $50M Goal

Author: Benzinga Newsdesk | March 20, 2025 03:53pm

Ashford Hospitality Trust, Inc. (NYSE:AHT) ("Ashford Trust" or the "Company") announced today that Remington, its largest property manager, has fully implemented property-level headcount reductions, reduced travel expenses, changed the PTO policy for field associates, and reduced contracted services and centralized expenses allocated to the Company's properties as part of its ongoing efforts to enhance Hotel EBITDA. These strategic moves reflect Remington's commitment to helping Ashford Trust execute on "GRO AHT," the Company's transformative initiative, aimed at driving $50 million in annual run-rate EBITDA improvement and significantly increasing shareholder value.

These expense reductions are expected to drive over $11 million in incremental Hotel EBITDA, reinforcing Ashford Trust's commitment to optimizing financial performance while ensuring long-term sustainability. Combined with the previously announced implementation of ancillary revenue initiatives and corporate expense reductions, the Company expects completed initiatives to contribute over $30 million per year in incremental EBITDA towards its $50 million goal.

Posted In: AHT