Ashford Hospitality Trust Prices Offering of 7.0 Million Shares of Common Stock at $12.50/Share

Ashford Hospitality Trust, Inc. AHT today announced that it has priced its underwritten public offering of 7.0 million shares of its common stock at $12.50 per share. Ashford granted the underwriters a 30-day option to purchase up to an additional 1,050,000 shares to cover over-allotments, if any. Settlement of the offering is expected to occur on July 5, 2011. Ashford intends to use the net proceeds to repay its outstanding borrowings under its senior credit facility, for general corporate purposes, including, without limitation, financing future hotel-related investments, capital expenditures and working capital or repayment of other debt or obligations. Morgan Stanley & Co. LLC, Credit Suisse Securities (USA) LLC, KeyBanc Capital Markets Inc. and UBS Securities LLC acted as the joint book-running managers for the offering. A registration statement relating to the shares is effective with the Securities and Exchange Commission. This press release does not constitute an offer to sell or the solicitation of an offer to buy the offered shares or any other securities, nor will there be any sale of such shares or any other securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or other jurisdiction.