A second wave of sales were disclosed in yesterday's earningscall in which Ashford's trio of top executives outlined moves thathave driven down the company's debt level to 57%. "We have achievedit in just a few days," Douglas Kessler, REIT COO and acquisitionschief, told analysts and shareholders, who were keenly aware thatit was projected to take as long as one year to return to below the60% mark.
Ashford has a seven-hotel portfolio poised to change hands inmid-May. Another four assets will be sold before the quarter ends.From the onset, Ashford's leaders have said sales would be used tode-leverage the CNL buyout, but the prospective passes nowconstitute more routine pruning.
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