Ashford Hospitality Trust Completes Embassy Suites Philadelphia Sale
Ashford Hospitality Trust, Inc. completed the sale of the 263-room Embassy Suites Philadelphia Airport in Philadelphia, Pennsylvania, on October 6, 2026. The transaction generated approximately $25.2 million in cash, net of selling expenses, according to an 8-K filing. The company simultaneously paid approximately $24.6 million to its mortgage lender to satisfy the loan secured by the property and 11 other hotels.
Ashford Hospitality Trust, Inc. completed the sale of the 263-room Embassy Suites Philadelphia Airport in Philadelphia, Pennsylvania, on October 6, 2026. The transaction generated approximately $25.2 million in cash, net of selling expenses, according to an 8-K filing. The company simultaneously paid approximately $24.6 million to its mortgage lender to satisfy the loan secured by the property and 11 other hotels.
The sale removes the hotel's assets and liabilities from Ashford Trust's consolidated financial statements. The unaudited pro forma balance sheet as of June 30, 2026, reflects the removal of the assets and liabilities of Embassy Suites Philadelphia Airport. The company recorded a preliminary non-recurring gain on the disposition for the year ended December 31, 2025, though actual results may differ from these pro forma figures.
The disposition was part of a broader review of the company's portfolio. The mortgage loan paid off was secured by a collateral package including the Embassy Suites Philadelphia Airport and eleven other properties. The cash consideration received was allocated between the sale price and approximately $765,000 for net working capital adjustments.
Ashford Trust's pro forma statement of operations for the year ended December 31, 2025, excludes the sold property's results of operations. The filing notes that the pro forma financial information is provided for informational purposes only and does not indicate future results. There are no other non-recurring items associated with this specific transaction. The company continues to operate its remaining hotel portfolio while managing its debt structure following the payoff of this specific mortgage facility.