# Ashford Hospitality Trust Inc

Ashford Hospitality Trust Inc is a Real Estate Investment Trust based in Dallas, United States.

## Overview

- **Organization type:** Real Estate Investment Trust
- **Headquarters:** Dallas, United States
- **Region:** North America
- **Address:** Dallas, TX, United States
- **Founded:** 2003
- **Assets under management:** Undisclosed
- **Website:** www.ashfordtrust.com

## Regulatory record

- **Reports private funds:** No

## About

Ashford Hospitality Trust was formed in 2003 by Monty J. Bennett, who remains CEO and President. The trust is externally advised by Ashford Inc., a separate entity that also advises Braemar Hotels & Resorts and provides asset management services. Bennett built the firm from a background in hospitality and real estate investment. The trust invests primarily in upper-upscale, full-service hotels under major brand flags including Marriott, Hilton, Hyatt, and Starwood. Its strategy centers on acquiring and renovating properties in key urban and gateway markets across the US. Deployment has historically targeted major MSAs such as New York, Chicago, San Francisco, and Atlanta, as well as resort destinations. Ashford Hospitality Trust is externally managed and does not employ internal property managers. The trust typically holds 15-20 hotels in its portfolio at any given time, depending on market cycle and acquisition/disposition activity. In May 2024, the trust reported completing the sale of one hotel property as part of its strategic capital recycling plan (per the firm, May 2024). A structural differentiator is that Ashford Hospitality Trust is externally advised — a model that creates an inherent fee relationship with Ashford Inc. This structure has drawn both support and criticism, as the advisor's incentives can diverge from shareholder interests (public record).

## Sectors

- Real Estate
- Hospitality

## People

- Monty J. Bennett — Chief Executive Officer & President
- Deric S. Eubanks — Chief Financial Officer
- Jeremy G. Welter — Chief Operating Officer

## Questions

### Who runs investment decisions at Ashford Hospitality Trust?

Monty J. Bennett serves as CEO and President, overseeing investment strategy. The trust is externally advised by Ashford Inc., which provides asset management and strategic guidance (per the firm's public filings).

### How is Ashford Hospitality Trust structured?

Ashford Hospitality Trust is a publicly traded REIT externally advised by Ashford Inc., a separate entity that also advises Braemar Hotels & Resorts. This structure means the trust does not have internal property management — Ashford Inc. handles that role (public record).

### Does Ashford Hospitality Trust invest in direct hotel ownership or fund commitments?

The trust invests directly in hotel properties — it acquires, renovates, and disposes of full-service hotels across the US. It does not invest in real estate funds or commit capital to third-party vehicles (per the firm's investor presentations).

### What investment stages does Ashford Hospitality Trust typically target?

The trust targets value-add and opportunistic hotel investments — it acquires properties that can be repositioned or improved through capital expenditure programs, then sells them when market conditions favor disposition (per the firm's 10-K filings).

### Which sectors does Ashford Hospitality Trust explicitly avoid?

The trust avoids limited-service and economy hotel segments, instead focusing on upper-upscale and luxury full-service hotels. It also does not target non-hospitality real estate assets (per the firm's investment criteria).

### How is Ashford Hospitality Trust related to Ashford Inc.?

Ashford Inc. is the external advisor to Ashford Hospitality Trust. Monty Bennett is also the CEO of Ashford Inc., creating a vertical integration where the advisor manages the trust's assets, while the trust remains a separate publicly traded entity (public record).

### What geographic markets has Ashford Hospitality Trust historically targeted?

The trust has concentrated on major US urban gateway markets like New York, Chicago, San Francisco, and Atlanta, as well as resort destinations such as the Florida coast and Hawaii. Its portfolio geography shifts based on acquisition opportunities (per the firm's investor materials).

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Last updated: 2026-06-03T20:00:00.000Z

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