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Ashford Hospitality Trust, Inc. Message Board

  • joebsib joebsib Jun 17, 2008 8:44 PM Flag

    sold a couple of dogs

    Based on that EBITDA multiple these hotels were not exactly cash cows

    The Company also announced that it has contracts in place to sell two other assets: the Radisson Hotel in Rockland, Massachusetts, and the Sheraton Milford in Milford, Massachusetts, for a combined $20.9 million that equates to $70,000 per key and a 5.1% trailing 12 month cap rate, and a 17.5x trailing 12-month EBITDA multiple. Both contracts are expected to close in the third quarter, subject to customary closing conditions.[SM]
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