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Ashford Hospitality Trust Announces Offering Of 11.0 Million Shares Of Common Stock

DALLAS, June 19, 2013 /PRNewswire/ -- Ashford Hospitality Trust, Inc. (NYSE: AHT) (" Ashford" or the "Company") today announced that it has commenced a follow-on public offering of 11,000,000 shares of common stock.  The Company expects to grant the underwriters of the offering a 30-day option to purchase up to an additional 1,650,000 shares of common stock.

Ashford intends to use the net proceeds of the offering to effect the planned spin-off of Ashford Hospitality Prime, Inc. that the Company announced on June 17, 2013, including, because of the way the spin-off is structured, to pay the common stock dividend just for this new share issue for the quarter ending June 30, 2013.  If the spin-off is not effected, Ashford intends to use the net proceeds of the offering for other general corporate purposes, including, without limitation, financing future hotel-related investments, capital expenditures, working capital and repayment of debt or other obligations.

BofA Merrill Lynch, Deutsche Bank Securities, and Morgan Stanley are acting as the joint book-running managers for the offering.  KeyBanc Capital Markets, Credit Agricole CIB and Credit Suisse are acting as senior co-managers.

A registration statement relating to the shares is effective with the Securities and Exchange Commission.  This press release does not constitute an offer to sell or the solicitation of an offer to buy the offered shares or any other securities, nor will there be any sale of such shares or any other securities in any state or other jurisdiction which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. 

The offering is being made only by means of a prospectus supplement and the related base prospectus, which have been filed with the Securities and Exchange Commission.  Copies of the preliminary prospectus supplement, final prospectus supplement (when available) and the related base prospectus may be obtained from BofA Merrill Lynch by contacting 222 Broadway, New York, NY 10038, Attention: Prospectus Department, or email: dg.prospectus_requests@baml.com, Deutsche Bank Securities by contacting 60 Wall Street, New York, NY 10005-2836, Attention: Prospectus Group, or email: prospectus.cpdg@db.com, Morgan Stanley by contacting 180 Varick Street, 2nd Floor, New York, NY 10014, Attention: Prospectus Department, or email: prospectus@morganstanley.com, or on the internet site of the Securities and Exchange Commission at www.sec.gov.

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 in the United States. 

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