Business Context and Reporting Period
Company: Ashford Hospitality Trust, Inc.
Filing Type: Form 8-K (Current Report)
Date of Report: October 1, 2013
Subject: Regulation FD Disclosure regarding the anticipated timing of the spin-off of Ashford Hospitality Prime, Inc. ("Ashford Prime").
Key Financial Metrics
This filing is a current report regarding corporate events and does not contain financial statements. Consequently, the filing text does not provide clear values for revenue, profit, cash flow, margins, debt, or liquidity.
Material Changes
The primary material change disclosed is an update to the timeline for the previously announced spin-off of Ashford Prime. The Company now expects to complete the spin-off sometime during the fourth quarter of 2013.
Guidance, Outlook, and Management Commentary
- Spin-off Timing: Management expects the separation of Ashford Prime to occur in Q4 2013.
- Investor Resources: The Company has released a new "Ashford Prime Questions and Answers Presentation" available on its website (www.ahtreit.com) under the "Investors" tab.
- Exhibits: A press release (Exhibit 99.1) and the Q&A presentation (Exhibit 99.2) are attached to this filing.
Important Facts for Investor Verification
- Verify the specific closing date of the Ashford Prime spin-off as it approaches the end of Q4 2013.
- Review the attached "Ashford Prime Questions and Answers Presentation" for details on the transaction structure and pro forma financials.
- Confirm the availability of the press release and presentation on the Company's investor relations website.