Ashford Hospitality Trust, Inc. reported a net loss of $30.4 million for the second quarter of 2025, a significant decline from a net income of $50.3 million in the same period last year. This shift reflects a decrease in total revenue, which fell to $302.0 million from $316.5 million year-over-year. The decline in revenue was primarily driven by a $16.4 million drop in rooms revenue, attributed to hotel dispositions and lower performance from comparable properties. The company’s total hotel revenue for the first half of 2025 was $579.4 million, down from $620.4 million in the prior year.
In terms of operational efficiency, total hotel expenses decreased by $8.6 million to $198.8 million in the second quarter, resulting in a slight improvement in operating income, which stood at $49.3 million compared to $135.5 million in the previous year. The company recorded an impairment charge of $1.4 million during the quarter, reflecting reduced cash flow expectations from the Residence Inn Evansville. Additionally, advisory service fees increased to $12.0 million, up from $11.5 million, indicating ongoing costs associated with management services.
Strategically, Ashford Hospitality Trust has been active in managing its portfolio, with significant transactions including the sale of the Courtyard Boston Downtown for $123 million and a parcel of land from the Residence Inn Orlando for $7.2 million. The company also completed the sale of the Residence Inn Evansville for $6 million in August 2025. As of June 30, 2025, the company held interests in 67 consolidated operating hotel properties, totaling 16,736 rooms, and continued to focus on upper upscale full-service hotels in the U.S.
Looking ahead, Ashford Hospitality Trust aims to preserve capital and maintain liquidity while pursuing opportunities for acquisitions and dispositions of non-core properties. The company has also extended its mortgage loans and is actively managing its debt obligations, with a current net debt to gross assets ratio of 71.3%. The company’s cash and cash equivalents stood at $101.3 million, with restricted cash of $154.6 million, indicating a solid liquidity position to meet upcoming financial obligations. However, the company remains cautious about market conditions and the potential impact of interest rate fluctuations on its operations.
About ASHFORD HOSPITALITY TRUST INC
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