Ashford Hospitality Trust Inc (AHT) Q3 2024 Earnings Call Highlights: Navigating Challenges ...

GuruFocus.com11-07

Net Loss: $63.2 million or $12.39 per diluted share for Q3 2024. AFFO per Diluted Share: Negative $1.71 for the quarter. Adjusted EBITDAre: $52.4 million for Q3 2024. Debt: $2.7 billion with a blended...

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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAshford Hospitality Trust Inc (AHT) Q3 2024 Earnings Call Highlights: Navigating Challenges ...\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-11-07 15:17 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/ashford-hospitality-trust-inc-aht-071717074.html><strong>GuruFocus.com</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Net Loss: $63.2 million or $12.39 per diluted share for Q3 2024.\nAFFO per Diluted Share: Negative $1.71 for the quarter.\nAdjusted EBITDAre: $52.4 million for Q3 2024.\nDebt: $2.7 billion with a blended...</p>\n\n<a href=\"https://finance.yahoo.com/news/ashford-hospitality-trust-inc-aht-071717074.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"AHT","symbol_name":"阿什福德酒店管理信托公司","start_time":0,"source_url":"https://finance.yahoo.com/news/ashford-hospitality-trust-inc-aht-071717074.html","article_id":"2481408499","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/H_7myu9G4udt3.2Q5tip5g--~B/aD0xMjE7dz01MDA7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/us.finance.gurufocus/0baa38ad60401e4b8db5fc3ce62b635a"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2481408499","pubTimestamp":1730963837,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"Net Loss: $63.2 million or $12.39 per diluted share for Q3 2024.AFFO per Diluted Share: Negative $1.71 for the quarter.Debt: $2.7 billion with a blended average interest rate of 8%.Cash and Cash Equivalents: $119.7 million at the end of Q3 2024.Restricted Cash: $114.3 million, primarily in lender and manager held reserve accounts.Net Working Capital: Approximately $160 million at the end of the quarter.Consolidated Portfolio: 73 hotels with 17,644 rooms as of September 30, 2024.RevPAR Growth: October saw a 4.6% increase compared to October 2023.Comparable Hotel RevPAR: Decreased 1% over the prior year quarter.Capital Expenditures: Anticipated spending between $80 million and $100 million for 2024.GuruFocus has detected 6 Warning Signs with AHT.Ashford Hospitality Trust Inc  has successfully sold over $310 million of hotels and completed a refinancing of the Renaissance Nashville, generating significant excess proceeds.A: We continue to see softening on the leisure side, with retail sof","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"AHT":"阿什福德酒店管理信托公司"},"translate_title":"Ashford Hospitality Trust Inc(AHT)2024年第三季度收益看涨期权亮点：应对挑战...","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"AHT":1},"content_text":"Net Loss: $63.2 million or $12.39 per diluted share for Q3 2024.\nAFFO per Diluted Share: Negative $1.71 for the quarter.\nAdjusted EBITDAre: $52.4 million for Q3 2024.\nDebt: $2.7 billion with a blended average interest rate of 8%.\nCash and Cash Equivalents: $119.7 million at the end of Q3 2024.\nRestricted Cash: $114.3 million, primarily in lender and manager held reserve accounts.\nNet Working Capital: Approximately $160 million at the end of the quarter.\nConsolidated Portfolio: 73 hotels with 17,644 rooms as of September 30, 2024.\nRevPAR Growth: October saw a 4.6% increase compared to October 2023.\nComparable Hotel RevPAR: Decreased 1% over the prior year quarter.\nAncillary Revenue: Increased 15% per occupied room compared to the prior year quarter.\nGroup Room Revenue: Pacing ahead by 2% for 2024 and 8% for 2025.\nCapital Expenditures: Anticipated spending between $80 million and $100 million for 2024.\n\n\nWarning! GuruFocus has detected 6 Warning Signs with AHT.\n\nRelease Date: November 06, 2024\nFor the complete transcript of the earnings call, please refer to the full earnings call transcript.\n Positive Points \n\nAshford Hospitality Trust Inc (NYSE:AHT) has successfully sold over $310 million of hotels and completed a refinancing of the Renaissance Nashville, generating significant excess proceeds.\nThe company has raised approximately $173 million from the sale of non-traded preferred stock, using proceeds to pay down strategic financing by more than $100 million.\nOperationally, October saw the highest monthly top-line growth of the year with a RevPAR growth of 4.6% compared to October 2023.\nThe company is on track to convert La Concha Hotel in Key West and La Pavillon Hotel in New Orleans to Marriott's Autograph Collection and Tribute Portfolio, respectively, expecting significant RevPAR premiums post-conversion.\nThe newly opened Le Meridian Fort Worth Downtown is performing well ahead of expectations, with initial revenue more than double the underwriting.\n\n Negative Points \n\nAshford Hospitality Trust Inc (NYSE:AHT) reported a net loss attributable to common stockholders of $63.2 million for the third quarter.\nThe company reported AFFO per diluted share of negative $1.71 for the quarter.\nComparable hotel RevPAR for the portfolio decreased by 1% over the prior year quarter.\nLeisure travel demand continues to soften, impacting retail performance across markets.\nThe company does not anticipate reinstating a common dividend in 2024.\n\n Q & A Highlights \nQ: Could you walk us through what you saw on the leisure and business travel (BT) side for demand in the quarter, maybe on a monthly basis? Was there any noticeable pickup post-Labor Day on the BT side? A: We continue to see softening on the leisure side, with retail soft for both us and other hotels within our markets. Corporate business remains strong, with BT for our portfolio up over 4% in Q3 compared to last year. We did see some increase post-Labor Day Weekend. The government segment was soft due to unease around the election, impacting some of our DC hotels. We anticipate this segment to pick up now that the election is over.\nQ: Can you provide some details on the type of transactions expected in the coming weeks? Are they asset sales, and are you optimistic they can close before the December deadline? A: It is a combination of transactions, including asset sales and refinancings. While I am hesitant to comment prematurely on the specifics, we expect to have announcements in the coming weeks.\nQ: Can you provide some additional color on the transaction environment more broadly? Any changes in demand or the bid-ask spread difference in large valuations versus smaller assets? A: Post the rate cut in September, we've seen an uptick in interest, particularly from institutional buyers. The election brought uncertainty, but with it behind us, we expect continued tightening of the bid-ask spread and improvement in financing and transaction markets.\nQ: Could you elaborate on the potential cost savings related to Ashford Inc? Is it at the property level or related to the advisory agreement? A: Our property managers are managing expenses at the property level. Ashford Inc is committed to improving profitability, and we expect corporate-level cost savings in addition to portfolio savings. More details will be announced in the coming months.\nQ: Once you've paid off Oaktree, what are your strategic priorities and capital allocation plans for 2025? A: Our first priority is addressing upcoming debt maturities, including refinancing and extensions. We will also look to strategically turn over some assets within the portfolio. Industry fundamentals are favorable, with limited supply growth and potential drivers for business transient segments, which we aim to capitalize on.\nFor the complete transcript of the earnings call, please refer to the full earnings call transcript.This article first appeared on \nGuruFocus.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.2","shortVersion":"4.29.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2481408499"}