AINC - Ashford Inc. targets 24% adjusted EBITDA CAGR

Ashford Inc. (AINC) maps out a 24% adjusted EBITDA compounded annual growth rate target through 2025 in its latest investor presentation.Targets adjusted EBITDA margin of 21% in 2023 and 24% in 2025; vs. 22% in 2020.The company targets adjusted EBITDA of $85M in 2025 from $58M pro forma adjusted EBITDA in 2019. Factoring in only industry recovery in 2024 with minor growth in 2025, the status quo adjusted EBITDA would be ~$54M, the company said.Assumes 5% assets under management growth per year.The 2025 number includes $3M of third-party EBITDA from Remington & Premier, $6M from RED acquisitions and $10M of JSAV third-party growth.

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Ashford Inc. targets 24% adjusted EBITDA CAGR