DALLAS, Oct. 6, 2011 /PRNewswire/ -- Ashford Hospitality
Trust, Inc. (NYSE: AHT) today announced its preliminary
expectations for Revenue Per Available Room (RevPAR) and Adjusted
Funds from Operations (AFFO) for the third quarter ended
September 30, 2011.
The Company expects to report an increase of approximately 5.9%
in RevPAR for all Legacy hotels in continuing operations and an
increase of approximately 5.5% in RevPAR for all hotels in
continuing operations in the Highland Hospitality Portfolio for the
third quarter of 2011, compared with the previous year. Not
including nonrecurring items, Ashford also expects to report AFFO
of approximately $0.36 to $0.40 per
diluted share for the third quarter of 2011, compared with
$0.33 per diluted share in 2010.
Ashford plans to issue its earnings release for the third
quarter after the market closes on Wednesday, November 9, 2011, and will host a
conference call on Thursday, November 10,
2011, at 11 a.m. ET. The
number to call for this interactive teleconference is (480)
629-9818. A replay of the conference call will be available through
Thursday, November 17, 2011, by
dialing (303) 590-3030 and entering the confirmation number,
4478474.
The live broadcast of Ashford Hospitality Trust's quarterly
conference call will be available online at the Company's web site,
www.ahtreit.com on Thursday, November 10,
2011, beginning at 11 a.m. ET.
The online replay will follow shortly after the call and continue
for approximately one year.
Ashford is a self-administered real estate investment trust
focused on investing in the hospitality industry across all
segments and at all levels of the capital structure.
Additional information can be found on the Company's website
at www.ahtreit.com.
Certain statements and assumptions in this press release
contain or are based upon "forward-looking" information and are
being made pursuant to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. These
forward-looking statements are subject to risks and uncertainties.
When we use the words "will likely result," "may,"
"anticipate," "estimate," "should," "expect," "believe," "intend,"
or similar expressions, we intend to identify forward-looking
statements. Such forward-looking statements include, but are
not limited to, the timing for closing, the impact of the
transaction on our business and future financial condition, our
business and investment strategy, our understanding of our
competition and current market trends and opportunities and
projected capital expenditures. Such statements are subject
to numerous assumptions and uncertainties, many of which are
outside Ashford's control.
These forward-looking statements are subject to known and
unknown risks and uncertainties, which could cause actual results
to differ materially from those anticipated, including, without
limitation: general volatility of the capital markets and the
market price of our common stock; changes in our business or
investment strategy; availability, terms and deployment of capital;
availability of qualified personnel; changes in our industry and
the market in which we operate, interest rates or the general
economy; and the degree and nature of our competition. These
and other risk factors are more fully discussed in Ashford's
filings with the Securities and Exchange Commission.
The forward-looking statements included in this press release
are only made as of the date of this press release. Investors
should not place undue reliance on these forward-looking
statements. We are not obligated to publicly update or revise
any forward-looking statements, whether as a result of new
information, future events or circumstances, changes in
expectations or otherwise.
SOURCE Ashford Hospitality Trust, Inc.