Revenue: As of FY2026 Q1, the actual value is USD 267.73 M.EPS: As of FY2026 Q1, the actual value is USD -11.03, missing the estimate of USD -8.79.EBIT: As of FY2026 Q1, the actual value is USD 87.46 M.<h3>First Quarter 2026 Financial Highlights</h3><h4>Revenue and Profitability</h4><ul><li>Comparable RevPAR: Increased by 3.3% to $135.63 during the quarter, driven by a 2.1% increase in Comparable Average Daily Rate (ADR) and a 1.2% increase in Comparable Occupancy .</li><li>Net Loss Attributable to Common Stockholders: - $71.1 million, or - $11.03 per diluted share for the quarter, compared to - $27.757 million or - $4.91 per diluted share for the first quarter ended March 31, 2025 .</li><li>Adjusted EBITDAre: $51.7 million for the quarter, a decrease from $61.663 million in the prior year quarter .</li><li>Adjusted Funds From Operations (AFFO) per diluted share: Breakeven for the quarter, an improvement from - $0.98 in the prior year quarter .</li><li>Comparable Hotel EBITDA: $73.2 million for the quarter, reflecting a growth of 5.2% over the prior year quarter .</li></ul><h4>Balance Sheet and Cash Flow</h4><ul><li>Cash and Cash Equivalents: $79.8 million at the end of the quarter .</li><li>Restricted Cash: $141.2 million at the end of the quarter, primarily comprised of lender and manager held reserves .</li><li>Due from Third-Party Hotel Managers: $24.5 million at the end of the quarter, available to fund hotel operating costs .</li><li>Net Working Capital: $73.7 million at the end of the quarter .</li><li>Capital Expenditures (CapEx): $17.0 million invested during the quarter .</li></ul><h4>Recent Operating Highlights</h4><ul><li>Highland Mortgage Loan: Ashford Hospitality Trust, Inc. extended its Highland mortgage loan, secured by 18 hotels, and paid it down by $10 million, resulting in a current balance of $723.6 million .</li><li>Hotel Sales (Closed): Ashford Hospitality Trust, Inc. successfully closed on five hotel sales for combined gross proceeds of $238.5 million or $229,000 per key, with anticipated capital expenditure savings of $50.5 million or $48,500 per key . Subsequent to quarter end, two additional hotel sales closed for combined gross proceeds of $58.0 million or $187,000 per key, with anticipated capital expenditure savings of $4.7 million or $15,100 per key .</li><li>Agreements to Sell: Ashford Hospitality Trust, Inc. has entered into definitive agreements to sell another six hotels for a combined $154.6 million or $108,000 per key, expecting capital expenditure savings of $105.7 million or $74,000 per key .</li></ul><h4>Capital Structure (as of March 31, 2026)</h4><ul><li>Total Loans: $2.4 billion .</li><li>Blended Average Interest Rate: 7.9%, taking into account in-the-money interest rate caps .</li><li>Fixed-Rate Debt: Approximately 6% of consolidated debt .</li><li>Floating-Rate Debt: Approximately 94% of consolidated debt .</li><li>Common Stock Dividend: No dividend was paid on common stock and common units for the first quarter ended March 31, 2026 .</li></ul><h4>Consolidated Statements of Operations (Three Months Ended March 31, 2026 vs 2025)</h4><ul><li>Total Hotel Revenue: $267.578 million in 2026, down from $277.050 million in 2025 .<ul><li>Rooms revenue: $200.025 million in 2026, compared to $206.301 million in 2025 .</li><li>Food and beverage revenue: $51.570 million in 2026, compared to $54.529 million in 2025 .</li></ul></li><li>Total Revenue: $267.732 million in 2026, down from $277.359 million in 2025 .</li><li>Total Operating Expenses: $362.304 million in 2026, significantly up from $257.739 million in 2025 . This includes $112.649 million in impairment charges in 2026, compared to $0 in 2025 .</li><li>Operating Income (Loss): $13.248 million in 2026, a decrease from $61.534 million in 2025 .</li><li>Net Income (Loss): - $65.457 million in 2026, compared to - $22.198 million in 2025 .</li></ul><h4>Total Enterprise Value (March 31, 2026)</h4><ul><li>Market Capitalization: $17.999 million .</li><li>Total Preferred Stock Value: $320.617 million .</li><li>Indebtedness: $2,353.133 million .</li><li>Net Working Capital: $73.734 million .</li><li>Total Enterprise Value (TEV): $2,669.793 million .</li></ul><h3>Outlook / Guidance</h3>Ashford Hospitality Trust, Inc. expects strategic divestitures to remain an important lever to improve leverage, liquidity, and cash flow throughout the remainder of the year . Management is encouraged by progress in executing a strategy to drive outsized EBITDA growth, optimize the asset base, and strengthen the balance sheet . Due to tight refinancing conditions and free cash flow, the Company does not anticipate resuming preferred dividends or redemptions in the near term, with the primary focus remaining on ensuring maturing loans are refinanced and preserving equity within the portfolio .

Ashford Hospitality Trust | 8-K: FY2026 Q1 Revenue: USD 267.73 M