By Thomas E. Sobon
The die is cast and (as a special dividend to its shareholders) the Ashford Hospitality Trust (NYSE:AHT) will spin off an 80% interest in a newly formed subsidiary consisting of an eight-hotel portfolio. The name of the new company will be Ashford Hospitality Prime (the proposed ticker symbol is AHP) and it will have a focused strategy of investing in high RevPAR hotels and resorts located predominantly in domestic and gateway international markets. The special dividend will be paid in common stock of AHP and it will be taxable. Final details regarding the distribution will be announced in mid-September and it will be completed shortly thereafter.
Re: The AHP Spinoff
The high quality of...
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