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Ashford Hospitality Trust Buys Old Town Hotel For $111M

The REIT used a new funding program that its asset manager Ashford Inc. launched to make acquisitions easier and more profitable.

Hilton Alexandria Old Town

WASHINGTON, DC–Ashford Hospitality Trust has signed an agreement to acquire the Hilton Alexandria Old Town for $111 million.

The 252-key hotel, which has 12,967-square feet of meeting space, opened in 2000 and has had $9.6 million in renovations since 2013. It has a trailing 12-month occupancy, ADR and RevPAR of 85%, $190 and $161, respectively.

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Erika Morphy

Erika Morphy

Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.

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