Ashford Hospitality Trust Inc income statement
In fiscal 2025, Ashford Hospitality Trust Inc reported revenue of $1.10bn, down 5.8% on the year before, operating income of $116m (a 10.5% margin) and net income of −$180m, or −$9.00 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.
Income statement
| Fiscal year | 2009Dec 2009 | 2010Dec 2010 | 2011Dec 2011 | 2012Dec 2012 | 2013Dec 2013 | 2014Dec 2014 | 2015Dec 2015 | 2016Dec 2016 | 2017Dec 2017 | 2018Dec 2018 | 2019Dec 2019 | 2020Dec 2020 | 2021Dec 2021 | 2022Dec 2022 | 2023Dec 2023 | 2024Dec 2024 | 2025Dec 2025 | LTMJun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 838 | 809 | 860 | 920 | 940 | 795 | 1,337 | 1,492 | 1,439 | 1,431 | 1,503 | 508 | 805 | 1,241 | 1,368 | 1,172 | 1,104 | 1,066 |
| Cost of revenue | — | — | — | — | — | — | — | 938 | 907 | 901 | 953 | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — | 554 | 532 | 530 | 550 | — | — | — | — | — | — | — |
| General and administrative | 30 | 31 | 45 | 44 | 53 | 57 | 14 | 8 | 13 | 11 | 11 | 28 | 16 | 10 | 16 | 25 | 21 | 14 |
| Operating income | −82 | 62 | 94 | 114 | 117 | 77 | 138 | 187 | 149 | 90 | 115 | −465 | −125 | 76 | 130 | 259 | 116 | 215 |
| Interest expense | 133 | 139 | 137 | 145 | 141 | 115 | 188 | 224 | 223 | 237 | 262 | 247 | 156 | 208 | 327 | 273 | 256 | 248 |
| Net interest income | — | — | — | — | — | — | — | — | — | — | 0 | 0 | 0 | 0 | 0 | — | — | — |
| Income before tax | −187 | −26 | 9 | −56 | −47 | −40 | 311 | −57 | −91 | −154 | −141 | −635 | −265 | −135 | −180 | −64 | −188 | −67 |
| Income tax | 2 | −0 | 2 | 2 | 2 | 1 | 5 | 2 | −2 | 3 | 1 | −1 | 6 | 6 | 1 | 1 | −0 | 3 |
| Net income | −250 | −52 | 2 | −54 | −41 | −31 | 271 | −46 | −67 | −127 | −114 | −544 | −267 | −140 | −178 | −60 | −180 | −65 |
| Diluted EPS | −$0.98 | −$3.58 | −$180.34 | −$3.25 | −$2.50 | −$185.28 | $580.53 | −$2.38 | −$325.00 | −$438.00 | −$394.35 | −$824.92 | −$31.07 | −$11.15 | −$14.03 | −$4.38 | −$9.00 | −$2.71 |
| Diluted shares (average) | — | 207m | 251m | 273m | 304m | 355m | 465m | 382m | 381m | 389m | 399m | — | 9m | 14m | 14m | 19m | 24m | 24m |
| EBITDA | 75 | 207 | 228 | 251 | 245 | 188 | 348 | 431 | 396 | 349 | 384 | −213 | 94 | 278 | 318 | 412 | 258 | 344 |
| Quarter | 2024 Q3Sept 2024 | 2024 Q4Dec 2024 | 2025 Q1Mar 2025 | 2025 Q2Jun 2025 | 2025 Q3Sept 2025 | 2025 Q4Dec 2025 | 2026 Q1Mar 2026 | 2026 Q2Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 277 | 275 | 277 | 302 | 266 | 259 | 268 | 273 |
| General and administrative | 5 | 4 | 4 | 5 | 7 | 4 | 2 | 1 |
| Operating income | 20 | −49 | 62 | 49 | 12 | −7 | 13 | 196 |
| Interest expense | 67 | 64 | 67 | 70 | 63 | 56 | 74 | 56 |
| Provision for credit losses | 0 | — | 0 | 0 | 0 | — | — | — |
| Income before tax | −60 | −131 | −22 | −32 | −62 | −72 | −65 | 132 |
| Income tax | −0 | −2 | 0 | 0 | 0 | −1 | 1 | 3 |
| Net income | −58 | −124 | −20 | −30 | −60 | −69 | −64 | 128 |
| Diluted EPS | −$12.39 | −$20.66 | −$4.91 | −$6.88 | −$11.35 | −$12.61 | −$11.03 | $1.62 |
| EBITDA | 58 | −12 | 99 | 85 | 47 | 27 | 45 | 225 |
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