ITEM 8.01 OTHER EVENTS. As previously disclosed, in June 2020, Ashford Hospitality Trust, Inc. (the "Company" or "Ashford Trust"), Braemar Hotels & Resorts Inc. ("Braemar"), Ashford Inc., and Lismore Capital II LLC, a subsidiary of Ashford Inc., each received an administrative subpoena from the staff of the Securities and Exchange Commission (the "SEC").

On January 18, 2022, the Company issued a press release announcing that, on January 11, 2022, the Company received a letter from the staff of the SEC stating that the SEC's investigation is concluded, and that the SEC enforcement staff does not intend to recommend any action by the SEC against Ashford Trust. The press release also states that Braemar and Ashford Inc. also each received a letter stating that the SEC's investigation is concluded, and that the SEC enforcement staff does not intend to recommend any action against the respective company. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS.



(d)  Exhibits
Exhibit Number    Description

99.1 Press Release of the Company, dated January 18, 2022 104 Cover Page Interactive Data File (formatted in Inline XBRL and contained in Exhibit 101)

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