March 04, 2024
A New York federal judge has granted a trustee's motion for default judgment against affiliates of borrower Ashford Hospitality Trust — accused by the trustee of failing to repay loans worth $144 million — with the judge also appointing a receiver to oversee the seven hotel properties that were secured by the loans.
January 31, 2024
The real estate investment trust Ashford Hospitality Trust said Wednesday that it plans to shed 12 hotels from its books and refinance several loans, as the company faces $3.6 billion of debt and a lawsuit over some of its distressed properties.