ASHFORD TRUST REPORTS THIRD QUARTER 2022 RESULTS.
Highlights:
* Net Loss Attributable to Common Stockholders was $(25.2) Million
* Comparable Hotel EBITDA was $94.1 Million
* Adjusted EBITDAre was $82.1 Million
* Best Quarterly RevPAR Performance to Date Relative to 2019
* September 2022 RevPAR Exceeded September 2019 RevPAR
DALLAS - Ashford Hospitality Trust, Inc. (NYSE: AHT) ('Ashford Trust' or the 'Company') today reported financial results and performance measures for the third quarter ended September 30, 2022. The comparable performance measurements for Occupancy, Average Daily Rate (ADR), Revenue Per Available Room (RevPAR), and Hotel EBITDA assume each of the hotel properties in the Company's hotel portfolio as of September 30, 2022 was owned as of the beginning of each of the periods presented. Unless otherwise stated, all reported results compare the third quarter ended September 30, 2022 with the third quarter ended September 30, 2021 (see discussion below). The reconciliation of non-GAAP financial measures is included in the financial tables accompanying this press release.
FINANCIAL AND OPERATING HIGHLIGHTS
Comparable RevPAR for all hotels increased 29% to $127 during the quarter on a 14.5% increase in ADR and a 12.9% increase in Occupancy. Comparable RevPAR for all hotels decreased approximately 4% compared to the comparable period in 2019, which is the best quarterly performance compared to 2019 since the onset of the pandemic.
Net loss attributable to common stockholders was $(25.2) million or $(0.73) per diluted share for the quarter.
Adjusted EBITDAre was $82.1 million for the quarter, reflecting a growth rate of 75.2% over the prior year quarter.
Adjusted funds from operations (AFFO) was $0.52 per diluted share for the quarter, reflecting a growth rate of 373% over the prior year quarter.
The Company ended the quarter with cash and cash equivalents of $505.5 million and restricted cash of $132.1 million. The vast majority of the restricted cash is comprised of lender and manager held reserves. At the end of the quarter, there was also $27.4 million in due from thirdparty hotel managers, which is primarily the Company's cash held by one of its property managers and is also available to fund hotel operating costs.
During the quarter, the Company recorded a credit of $3.9 million that is included in general and administrative expense related to the true-up associated with the contribution agreement for Ashford Securities, which the Company expects to occur during 2023.
AHT Reports Third Quarter Results: See full results at:
https://s1.q4cdn.com/906437698/files/doc_financials/2022/q3/AHT-2022-Q3-Earnings-Release-(Final).pdf
ASHFORD HOSPITALITY TRUST, INC. 
