Ashford Trust Sells Marriott, Hilton Hotels For $37.8M

Law360 (August 15, 2019, 5:44 PM EDT) -- Ashford Hospitality Trust Inc. said Thursday it has sold for $37.8 million the 156-room Courtyard by Marriott Savannah Downtown/Historic District hotel in Savannah, Georgia, and the 128-room Hilton Garden Inn in Wisconsin Dells, Wisconsin.

The Dallas-based real estate investment trust, which says it focuses on hospitality industry investments in “upper upscale,” full-service hotels, didn’t name the buyers. Ashford at closing paid off the hotels’ existing loan balances of approximately $32.8 million as well as $3.8 million of pay-down related to the release of the Courtyard Savannah from its loan pool, according to the REIT. The sales’ remaining net proceeds were used...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS