On November 10, 2026, Ashford Hospitality Trust, Inc. (NYSE: AHT) reported its financial results for the third quarter ended September 30, 2026. The company reported a significant turnaround in its financial performance, driven by increased hotel occupancy and a substantial reduction in its debt load.
For the third quarter, comparable RevPAR increased by 7.3% to $140.8. This growth was supported by a 6.1% rise in Average Daily Rate (ADR) and a 1.2% increase in Occupancy. The company reported net income attributable to common stockholders of $2.5 million, or $0.12 per diluted share, compared to a net loss of $(69.0) million, or $(11.35) per share, in the prior-year quarter.
Ashford Hospitality Trust also reported Adjusted EBITDAre of $34.9 million for the quarter. Comparable Hotel EBITDA reached $55.5 million, reflecting a 6.9% increase over the prior year. Year-to-date, Comparable Hotel EBITDA increased 6.8%, and the margin expanded by 70 basis points to 29.8%.
A key focus of the report was the company's capital structure. Total debt decreased to $1.9 billion at September 30, 2026, a reduction of $677.4 million, or 26.4%, from $2.6 billion at December 31, 2025. The company ended the quarter with cash and cash equivalents of $87.3 million and restricted cash of $122.1 million.
In recent operating highlights, the company closed on the sale of four hotels during the quarter for combined gross proceeds of $145.8 million. Subsequent to the quarter end, the company closed on the sale of the Embassy Suites by Hilton Philadelphia Airport for $26.0 million. Additionally, the company refinanced the Highland loan pool with a new $525.0 million financing facility, which features a two-year initial term and interest at a rate of SOFR + 5.24%.
The company also announced that its advisor, Ashford Inc., waived approximately $17 million of advisory fees effective October 20, 2026. Furthermore, Ashford Inc. committed to purchasing 2.5% of the Company’s outstanding common stock in the open market each quarter, beginning with the quarter ended September 30, 2026. The company terminated its at-the-market equity offering program with Virtu Americas LLC on October 20, 2026.
