DALLAS-After struggling during Q1 2012, Ashford Hospitality Trust’s Q2 earnings prompted an almost palpable sigh of relief among executives at the REIT’s Aug. 2 conference call. The Highland Hospitality Portfolio, which has been somewhat of a “problem child” for awhile because of capital expenditures, did well with a 7.6% RevPAR growth year-over-year (for hotels not under renovation) and a 206 basis point improvement in EBITDA.

Meanwhile, RevPAR increased 6.2% for the REIT’s Legacy hotels in continuing operations, helped along by a 3.7% increase in average daily rate and a 182 basis point occupancy increase. Though net loss to common shareholders stood in negative territory at $13.3 million, this was a far better figure than the $29.1 million reported in the prior-year quarter. Capex invested in the Legacy portfolio stood at $20.8 million, while Highland portfolio capex was $7 million.

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