Ashford Hospitality Board Authorizes Additional $75 Million for Stock Repurchase Plan
September 05 2008 - 5:58PM
Business Wire
Ashford Hospitality Trust, Inc. (NYSE: AHT) today announced that
the Board of Directors has authorized an additional $75 million of
the Company�s common stock that may be purchased under its share
repurchase program. The Company had recently completed
substantially all of the repurchase of the $50 million previously
allocated under its existing share repurchase program. Repurchases
under the share repurchase program will be exercised from time to
time, subject to market conditions and regulatory considerations.
Repurchases may be made under a Rule 10b5-1 plan compliant with
Rule 10b-18 of the Securities Exchange Act of 1934. Ashford
Hospitality Trust 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, including
direct hotel investments, first mortgages, mezzanine loans and
sale-leaseback transactions. Additional information can be found on
the Company's web site 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.
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