EXHIBIT 99.1
NEWS RELEASE
| Contact: | David Kimichik | Deric Eubanks | Elise Chittick | Scott Eckstein |
| Chief Financial Officer | SVP – Finance | Investor Relations | Financial Relations Board | |
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ASHFORD TRUST PROVIDES UPDATE ON TIMING OF ASHFORD PRIME SPIN-OFF AND POSTS INVESTOR Q&A ON WEBSITE
DALLAS, October 1, 2013 -- Ashford Hospitality Trust, Inc. (NYSE: AHT) (“Ashford Trust” or the “Company”) today announced an update to investors on the anticipated timing of the previously announced spin-off of Ashford Hospitality Prime, Inc. (“Ashford Prime”). The Company currently expects to complete the spin-off sometime during the fourth quarter of this year.
The Company has also prepared a new Ashford Prime Questions and Answers Presentation that is available on the Company’s website at www.ahtreit.com both on the front page and under the Investors tab in the Presentations section. The presentation contains answers to commonly asked questions regarding the spin-off. Additional information can be found in the information statement for Ashford Hospitality Prime that has been filed with the SEC.
Ashford Hospitality Trust is a real estate investment trust (REIT) focused on investing opportunistically in the hospitality industry across all segments and at all levels of the capital structure primarily within the United States.
Ashford Hospitality Prime will be a conservatively capitalized real estate investment trust (REIT) focused on investing in high RevPAR full-service and urban select-service hotels located predominantly in domestic and international gateway markets.
Follow Chairman and CEO Monty Bennett on Twitter at www.twitter.com/MBennettAshford or @MBennettAshford.
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 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; the degree and nature of our competition; the satisfaction of the conditions to the completion of the spin-off; and the estimated timing of completion. 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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