EXHIBIT 99.3

(ASHFORD HOSPITALITY TRUST LOGO)


                                                                   NEWS RELEASE


Contact:  Douglas Kessler                     Tripp Sullivan
          COO and Head of Acquisitions        Corporate Communications, Inc.
          (972) 490-9600                      (615) 254-3376


                 ASHFORD HOSPITALITY TRUST COMPLETES ACQUISITION
                       OF HOTEL PORTFOLIO FOR $50 MILLION

DALLAS - (October 9, 2003) - Ashford Hospitality Trust, Inc. (NYSE: AHT) today
announced it has closed on the acquisition of a five-property, 894-suite
portfolio of Embassy Suites Hotels(R) and Doubletree Guest Suites(R) hotels from
FelCor Lodging Trust (NYSE: FCH) for $50.0 million in cash.

The five-hotel portfolio consists of: the 229-suite Embassy Suites in Phoenix,
Arizona; the 215-suite Embassy Suites in Syracuse, New York; the 119-suite
Embassy Suites in Flagstaff, Arizona; the 194-suite Doubletree Guest Suites in
Columbus, Ohio; and the 137-suite Doubletree Guest Suites in Dayton, Ohio.
Ashford has engaged Remington Lodging, an affiliate of Remington Hotel
Corporation, to be the property manager.

Each of the properties will undergo a value-added renovation for a total
expenditure of approximately $8.2 million. The Company expects to commence
renovations prior to the end of the year with completion scheduled by the fourth
quarter of 2004. The Syracuse and Phoenix properties will undergo a significant
capital expenditure program with complete refurbishment of the guest rooms and
the public areas. The remaining three hotels require less extensive renovation.
The Company expects little if any impact to hotel guests due to the staging of
the work.

Commenting on the announcement, Monty Bennett, President and CEO of Ashford
Hospitality Trust, said, "This transaction is consistent with our diversified
strategy at yields at the higher end of our range. Having nearly doubled the
size of our portfolio with the completion of this transaction, we are now
focused on improving the very attractive initial yield and value per key on this
acquisition, which we expect to occur subsequent to the renovation work. We
believe there will be upside from the capital expenditures that will eventually
improve market share and top line performance and return these properties back
to more efficient operating levels. We are very pleased with this transaction,
which is representative of the attractive, strong-branded opportunities we see
today in the market."



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Ashford Hospitality Trust is a self-administered real estate investment trust
focused exclusively on investing in the hospitality industry across all segments
and at all levels of the capital structure, including direct hotel investments,
first mortgages, mezzanine loans and sale-leaseback transactions. The Company
currently owns eleven hotel properties and through its management team has
experience in sourcing, underwriting, operating, repositioning, developing,
selling and financing a wide variety of lodging investments. Additional
information can be found on the Company's web site at www.ahtreit.com.

Remington Hotel Corporation is a Dallas-based independent real estate investment
and management company specializing in the hospitality industry. The company
currently manages 33 hotels nationwide with more than 3,500 associates. Its
properties include affiliations with such franchises as Hilton(R), Embassy
Suites Hotels(R), Marriott(R), Sheraton(R), Radisson(R), Four Points(R), Crowne
Plaza(R) and Holiday Inn(R), and have received many of the industry's top brand
and trade publication awards.

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 forward-looking statements include, but are not
limited to, the impact of the transaction on our business and future financial
condition, our business and investment strategy; our understanding of our
competition and current market trends and opportunities and projected capital
expenditures. 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; and the degree and nature of our
competition. These and other risk factors are more fully discussed in the
section entitled "Risk Factors" in Ashford's Registration Statement on Form
S-11, as amended (File Number 333-105277), and from time to time, in Ashford's
other 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.


                                      -END-


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