Ashford Hospitality approves reverse stock split

Ashford Hospitality Trust announced that its Board of Directors unanimously approved a reverse split of the Company’s common stock at a ratio of 1-for-10. As of the effective date of the reverse split, each share of the Company’s issued and outstanding common stock and equivalents will be converted into 1/10th of a share of the Company’s common stock. The reverse stock split will become effective as of the close of business on October 25, 2024 and the common stock is anticipated to commence trading on the NYSE on October 28, on the split-adjusted basis. As a result of the reverse stock split, the number of outstanding shares of common stock will be reduced from approximately 54.6M shares to approximately 5.5M shares.