Ashford Hospitality Completes Sale of JW Marriott New Orleans for $67.5 Million (Centre Daily Times)

Story date: 2008-01-14 04:19:31
Added on: 2008-01-14 05:00:20

Ashford Hospitality Trust, Inc. (NYSE: AHT) today announced that it has completed the previously disclosed sale of the JW Marriott New Orleans in New Orleans, Louisiana, for $67.5 million in cash and assumed debt. The price equates to a 2.9% trailing 12-month NOI cap rate and a 20.9x trailing 12-month EBITDA multiple. As part of the sale, the buyer assumed an approximate $43.9 million first ...


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