Current Report Filing (8-k)

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of Report (date of earliest event reported): May 27, 2015

ASHFORD HOSPITALITY TRUST, INC.

(Exact name of registrant as specified in its charter)



Maryland	001-31775	86-1062192
(State or other jurisdiction of incorporation or organization)	(Commission File Number)	(IRS employer identification number)

14185 Dallas Parkway, Suite 1100
Dallas, Texas		75254
(Address of principal executive offices)		(Zip code)

Registrant’s telephone number, including area code (972) 490-9600

Check the appropriated box if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14-a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

ITEM 7.01 REGULATION FD DISCLOSURE

Ashford Hospitality Trust, Inc. presented a Powerpoint slideshow on May 27, 2015 to the investment community. The Powerpoint slideshow is attached hereto as Exhibit 99.1.

ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS

(d) Exhibits

Exhibit

Number Description


99.1	Powerpoint slideshow presentation.

SIGNATURE

Pursuant to the requirements of Section 12 of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Dated: May 27, 2015

ASHFORD HOSPITALITY TRUST, INC.

By: /s/ DAVID A. BROOKS

David A. Brooks

Chief Operating Officer and General Counsel

1 Chicago Investor Tour - May 2015

2 Ashford Trust  Opportunistically invest in non-luxury hotel assets in all market locations  Highly-aligned management team with proven track record of long-term value creation  Leveraged way to invest in the hotel cycle  Industry leading dividend yield

3 Compelling Opportunity  Attractive industry fundamentals with demand growth exceeding supply growth  Currently seeking accretive hotel acquisition opportunities  Affiliated property manager results in strong operating results and flow- throughs  Upcoming refinancings with potential for significant excess proceeds  Net working capital of $664 million at 3/31/15

Demonstrated Long-Term Track Record 4 • Disciplined growth, operational expertise, and capital allocation to maximize shareholder returns • Trust expects to benefit from strong AINC management team capabilities Peer average includes: BEE, CHSP, CLDT, DRH, FCH, HST, HT, INN, LHO, PEB, RLJ, SHO Trailing Total Shareholder Returns as of 5/13/15 Source: Bloomberg Total Shareholder Return 108% 216% 137% 85% 23% 31% 0% 100% 200% 300% 5-Yr 7-Yr 10-yr AHT Peer Avg

Highly-Aligned Management 5 • With insider ownership* of approximately 15% AHT, management is highly-aligned with shareholder interests Publicly-Traded Hotel REIT Insider Ownership Public Lodging REITs include: BEE, CHSP, CLDT, DRH, FCH, HST, HT, INN, LHO, PEB, RLJ, SHO Source: Company filings. * Insider ownership for Ashford entities includes direct & indirect interests & interests of related parties 15%* 14%* 5% 4% 3% 3% 2% 2% 2% 2% 1% 1% 1% 1% 0.5% 0% 2% 4% 6% 8% 10% 12% 14% 16%

The Silversmith Chicago 6 The Silversmith Chicago: 143 Rooms; 2,100 sf

Property Overview 7 • The 143-room Silversmith Chicago was acquired as part of the $1.3bn 28- property Highland Hospitality portfolio purchased in March 2011 • Remington assumed property management • Hotel was in need of significant capital expenditures • Ashford and Prudential have invested almost $11mm into the hotel since acquisition • Hotel is located one block from Millennium Park and just steps from cosmopolitan dining, shopping, and nightlife destinations • Ashford and Remington have successfully navigated an extensive repositioning of the hotel and are on the verge of surpassing prior peak RevPAR and RevPAR index The Silversmith Chicago: 143 Rooms; 2,100 sf 2011 2012 2013 2014 YTD Apr. 15 RevPAR $96.35 $112.29 $103.49 $119.74 +45.1% RevPAR Index 79.5 82.5 74.4 84.9 92.0 Total Revenue* $6.3 $7.1 $6.1 $6.8 EBITDA* $1.4 $2.2 $1.6 $1.9 EBITDA Flow -4.5% 90.8% 34.0% 52.8% EBITDA Per Key $9,976 $15,556 $10,863 $13,161 Ashford Acquisition & Remington Transition Significant Guestrooms Renovation *In millions

Competitive Set 8 The Silversmith Chicago: 143 Rooms; 2,100 sf

New Supply - Tract 9 The Silversmith Chicago: 143 Rooms; 2,100 sf

Capital Summary 10 Year $ Spend 2010 N/A 2011 $5,425,163 2012 $3,137,666 2013 $949,574 2014 $1,420,517 Total $10,932,920 Historical Capital Spend Projected Capital Spend Year $ Spend 2015 $35,750 2016 $218,000 2017 $218,000 2018 $218,000 2019 $218,000 Total $907,750 Area Last Renovation Next Renovation Guestrooms 2011 2021 Lobby/Restaurant 2012 2021 Meeting Space 2014 2022 Specific Renovations The Silversmith Chicago: 143 Rooms; 2,100 sf Note: Dollar amounts and timing reflect budget year spend, actual timing may vary