Ashford Hospitality Sells Embassy Suites, Reduces Debt Load
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Ashford Hospitality Trust has sold the Embassy Suites Dallas Near the Galleria for approximately $16.6 million, using $16 million of the proceeds to reduce debt on a mortgage loan secured by ten hotels. This sale is part of a strategy to streamline its portfolio and reduce leverage. Despite some signs of improving hotel performance, the company's financial health remains weak, leading to a neutral rating from analysts. Ashford Hospitality focuses on upscale hotel properties and is currently valued at $19.95 million in market cap.
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