New Ashford REIT spinoff to focus on high-end hotels

06/18/2013 |

Ashford Hospitality Trust is creating Ashford Hospitality Prime, a publicly traded real estate investment trust derived from eight of its top RevPAR hotels. Ashford Prime will compete with LaSalle Hotel Properties and other REITs that focus on acquiring upscale hotels with a minimum revenue per available room of $130.

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