Increases Previously Provided Guidance for 2023 and
2025
Adds Guidance for 2024 and 2026
DALLAS, May 4, 2022
/PRNewswire/ -- Ashford Inc. (NYSE American: AINC) ("Ashford" or
the "Company") today announced that it recently posted on the
Company's website a comprehensive presentation for investors, which
includes updates to its previously provided long-term growth
projections.
Detailed within the presentation, the Company provides updated
long-term financial projections for the different segments of its
business. The presentation also highlights four key areas of
growth for the Company: 1) Recovery of the hospitality
industry and higher hotel revenues; 2) Increase in assets under
management; 3) Growth of third-party business; and 4) Acquisition
or incubation of additional businesses.
The following are additional highlights included in the
presentation, which can be accessed by going to
https://www.ashfordinc.com and clicking on the Investors tab:
- As the only publicly-traded asset manager and service provider
in the Hospitality Industry, and with 115 hotels under asset
management across two publicly-traded REIT platforms, the Company
is uniquely positioned to capitalize on the recovery in the lodging
industry that is currently underway.
- With 9 market leading product and service companies, Ashford's
business model provides numerous synergies and value-creation
opportunities.
- Ashford is seeing significant progress in its strategy to grow
third-party business, where both Remington and Premier are
experiencing strong positive momentum.
"Last year, for the first time in our history as a public
company, we provided long-term earnings guidance," commented
Monty J. Bennett, Ashford's Chairman
and Chief Executive Officer. "Given the recent improvement we've
seen in the lodging industry, as well as progress we've made on our
growth initiatives, we have increased our guidance significantly
from what we previously provided. As the recovery in the lodging
industry gains momentum, we believe Ashford is uniquely positioned
to outperform. We're excited about the future prospects for
our Company and believe Ashford offers an appealing investment
opportunity."
The Company's senior management is available for calls with
institutional investors to discuss the presentation.
Investors interested to speaking with management are encouraged to
contact Jordan Jennings, Investor
Relations, at (972) 778-9487 or info@ashfordinc.com to schedule a
meeting.
Ashford is an alternative asset management company with a
portfolio of strategic operating businesses that provides global
asset management, investment management and related services to the
real estate and hospitality sectors.
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. Forward-looking
statements in this press release include, among others, statements
about the Company's strategy and future plans. 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
statements are subject to numerous assumptions and uncertainties,
many of which are outside Ashford Inc.'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: the impact of COVID-19, including one or more possible
recurrences of COVID-19 case surges that would cause state and
local governments to reinstate travel restrictions and the rate of
adoption and efficacy of vaccines to prevent COVID-19, on our
business and investment strategy; our ability to maintain
compliance with NYSE American LLC continued listing standards; our
ability to regain Form S-3 eligibility; our ability to repay,
refinance or restructure our debt and the debt of certain of our
subsidiaries; anticipated or expected purchases or sales of assets;
our projected operating results; completion of any pending
transactions; our understanding of our competition; market trends;
projected capital expenditures; the impact of technology on our
operations and business; general volatility of the capital markets
and the market price of our common stock and preferred stock;
availability, terms and deployment of capital; availability of
qualified personnel; changes in our industry and the markets 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 the Company'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. Such
forward-looking statements are based on our beliefs, assumptions,
and expectations of our future performance taking into account all
information currently known to us. These beliefs, assumptions, and
expectations can change as a result of many potential events or
factors, not all of which are known to us. If a change occurs, our
business, financial condition, liquidity, results of operations,
plans, and other objectives may vary materially from those
expressed in our forward-looking statements. You should carefully
consider this risk when you make an investment decision concerning
our securities. Investors should not place undue reliance on these
forward-looking statements. The Company can give no assurance that
these forward-looking statements will be attained or that any
deviation will not occur. 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, except to the extent required by
law.
This overview is for informational purposes only and is not
an offer to sell, or a solicitation of an offer to buy or sell, any
securities of Ashford Inc., or any of its respective affiliates,
and may not be relied upon in connection with the purchase or sale
of any such security, and the information contained herein does not
form part of any prospectus of Ashford Inc. that may be used to
offer or sell securities.
Prior to investing in Ashford, potential investors should
carefully review Ashford's periodic filings with the Securities and
Exchange Commission, including, but not limited to, Ashford's most
current Form 10-K, Form 10-Q and Form 8-K's, including the risk
factors included therein.
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SOURCE Ashford Inc.