>Ashford Hospitality Trust Reports First Quarter Results

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>DALLAS, May 5 /PRNewswire-FirstCall/ — Ashford Hospitality Trust, Inc. (NYSE: AHT) today reported the following results and performance measures for the first quarter ended March 31, 2010. The proforma performance measurements for Occupancy, Average Daily Rate (ADR), revenue per available room (RevPAR), and Hotel Operating Profit (or Hotel EBITDA) include the Company’s 102 hotels owned and included in continuing operations as of March 31, 2010. Unless otherwise stated, all reported results compare the first quarter ended March 31, 2010, with the first quarter ended March 31, 2009 (see discussion below). The reconciliation of non-GAAP financial measures is included in the financial tables accompanying this press release.


Corporate unrestricted cash at the end of the quarter was $172.2 millionTotal revenue decreased 7.6% to $217.0 million from $234.9 millionRevPAR decreased 4.1% for the quarterHotel EBITDA margin decreased 200 basis pointsNet income attributable to common shareholders was $305,000, or $0.01 per diluted share, compared with net income attributable to common shareholders of $6.8 million, or $0.08 per diluted share, in the prior-year quarterAdjusted funds from operations (AFFO) was $0.32 per diluted share versus $0.31 per diluted share in the prior-year quarterFixed charge coverage ratio was 1.69x under the senior credit facility covenant versus a required minimum of 1.25x

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