From Yahoo Finance: 2025-05-26 07:06:00

Ashford Hospitality Trust has agreed to sell the Hilton Houston NASA Clear Lake hotel for $27m, with the deal expected to close in June 2025. The 242-room waterfront property in Houston, Texas offers amenities like an outdoor pool and dining at Luna Restaurant & Bar. The sale reflects a 3.2% capitalisation rate on net operating income.

The sale price of the Hilton Houston NASA Clear Lake hotel includes expected capital expenditures, resulting in a 3.2% capitalisation rate on net operating income or a multiple of 23.6 times the hotel’s EBITDA. Without these capital expenditures, the sale price would represent a 5% capitalisation rate or a multiple of 15.2 times the hotel’s EBITDA.

Ashford Trust president and CEO Stephen Zsigray expressed satisfaction with the sale, which will help deleverage the company’s Morgan Stanley 17 Pool loan and lead to cost savings. The company’s “GRO AHT” initiative aims to transform and optimize assets through strategic sales.

Ashford Hospitality Trust specializes in high-end, full-service hotels and has pursued strategic sales like the recent agreement to sell the Courtyard Boston Downtown for $123m. The sale of the Hilton Houston NASA Clear Lake hotel furthers the company’s commitment to optimizing its portfolio and financial position.



Read more at Yahoo Finance: Ashford to sell Hilton Houston NASA Clear Lake for $27m