- Ashford Hospitality Trust ( NYSE: AHT ) sees both occupancy and revenue per available room (RevPAR) decreasing in Q4 2022 vs. Q3, according to its preliminary results issued on Friday.
- The lodging REIT expects to post occupancy of ~68% for Q4 compared with 70.95% in the prior quarter.
- Its average daily rate is expected to be ~$175 (vs. $178.72 in Q3) resulting in RevPAR of ~$118 (vs. $126.80 in Q3). The preliminary Q4 RevPAR number reflects an increase of ~25% from a year before and a decrease of 1% from Q4 2019.
- During the quarter, the company "continued to benefit from increased demand and realized notable rate increases in many key markets," said Ashford President and CEO Rob Hays.
- AHT finished Friday's session up 4.6% to $4.60 to end the shortened week with a 8.1% drop.
- Seeking Alpha contributor Trapping Value viewed AHT as a Hold, arguing that the company's "entire survival strategy was built around two factors and those two factors prevent upside today."
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Ashford Hospitality expects occupancy, RevPAR to slide in Q4