Crowne Plaza Ravinia Crowne Plaza Ravinia

ATLANTA—Ashford Hospitality Trust, a REIT focused on opportunistic investments in upscale, full-service hotels, sold the 495-room Crowne Plaza Ravinia in Atlanta. The sale price is $88.7 million, or $179,000 per key.

The price represents a trailing 12-month cap rate of 5.6% on net operating income and a trailing 15.3x EBITDA multiple. Based upon the prior 12-month period, the Crowne Plaza achieved RevPAR of $84 with occupancy of 71% and Average Daily Rate of $119.

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Jennifer LeClaire

GlobeSt

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