ASHFORD TRUST COMPLETES REFINANCING OF MORTGAGE LOAN FOR LE PAVILLON HOTEL

DALLAS, Dec. 22, 2022 /PRNewswire/ — Ashford Hospitality Trust, Inc. (NYSE: AHT) (“Ashford Trust” or the “Company”) today announced that it has successfully refinanced its mortgage loan for the 226-room Le Pavillon Hotel in New Orleans, Louisiana which had an initial maturity date of January 2023.

The new, non-recourse loan totals $37.0 million, the same loan amount as the previous loan, and has a two-year initial term with three one-year extension options, subject to the satisfaction of certain conditions. The loan is interest only and provides for a floating interest rate of SOFR + 4.00% with a 0.50% SOFR floor.