Hilton Alexandria Old Town

Ashford Inc. has launched a $50 million funding program for its externally-advised REIT Ashford Hospitality Trust that is expected to be parlayed into $500 million of hotel acquisitions over the next 12 months. The company announced the funding program Tuesday afternoon, along with the news that Ashford Trust has used the program to support its pending acquisition of a 252-key hotel in Alexandria, Va., for $111 million.