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Ashford Hospitality Trust, Inc., together with its subsidiaries is a REIT. While our portfolio currently consists of upscale hotels and upper upscale full-service hotels, our investment strategy is predominantly focused on investing in upper upscale full-service hotels in the United States that have revenue per available room ( RevPAR ) generally less than twice the U.S. national averag…
10.54% operating margin is respectable but not wide. ROIC at 3.48%. Suggests the business covers its cost of capital, but doesn't point to a wide moat.
Revenue declined 5.8% YoY. Margins deteriorated 11.6pp alongside, both lines moving the wrong way.
ROIC dropped from 8.40% to 3.48%, capital efficiency is deteriorating. Negative free cash flow of -$87M. The business is consuming cash, not generating it.
Profitability & Returns
Revenue (TTM)
$1.09B
▼ -5.8% YoY
Net Income (TTM)
-$224M
▼ -198.2% YoY
Op. Margin
6.22%
▼ -11.6pp YoY
ROIC
2.63%
▼ -4.9pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$29M
▲ +34.0% YoY
Op. Cash Flow (TTM)
$39M
▲ +33.6% YoY
Net Debt
$2.27B
Cash & Equiv.
$78M
5Y CAGR: +16.8%
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