Dane Bowler
Value, hedge fund analyst, REITs, long/short equity

The Financial Innovation Of Ashford Hospitality's Spin-Off

On June 17th, Ashford HospitalityTrust (NYSE:AHT) announced its intent to spin-off a high RevPAR portfolio consisting of 8 hotels and the option to acquire 2 more. The new company would be called Ashford Prime and trade under the ticker AHP. Owners of AHT are to receive a special taxable dividend of 1 share of AHP for each share of AHT near the end of the 3rd quarter. Based on the commentary in the associated conference call and the complete lack of a market response Tuesday, it would seem that the investment community does not know what to make of it. This article will provide clarity to the situation as well as insight on how to capitalize on the...

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