Ashford Hospitality Trust Inc Sample Contracts

Ashford Hospitality Trust Inc – ASHFORD TRUST REPORTS FOURTH QUARTER AND YEAR END 2018 RESULTS (February 28th, 2019)

DALLAS, February 28, 2019 - Ashford Hospitality Trust, Inc. (NYSE: AHT) (“Ashford Trust” or the “Company”) today reported financial results and performance measures for the fourth quarter and full year ended December 31, 2018. The comparable performance measurements for Occupancy, Average Daily Rate (ADR), Revenue Per Available Room (RevPAR), and Hotel EBITDA assume each of the hotel properties in the Company’s hotel portfolio as of December 31, 2018 were owned as of the beginning of each of the periods presented. Unless otherwise stated, all reported results compare the fourth quarter ended December 31, 2018 with the fourth quarter ended December 31, 2017 (see discussion below). The reconciliation of non-GAAP financial measures is included in the financial tables accompanying this press release.

Ashford Hospitality Trust Inc – ASHFORD TRUST REPORTS THIRD QUARTER 2018 RESULTS (November 1st, 2018)

DALLAS, November 1, 2018 - Ashford Hospitality Trust, Inc. (NYSE: AHT) (“Ashford Trust” or the “Company”) today reported financial results and performance measures for the third quarter ended September 30, 2018. The comparable performance measurements for Occupancy, Average Daily Rate (ADR), Revenue Per Available Room (RevPAR), and Hotel EBITDA assume each of the hotel properties in the Company’s hotel portfolio as of September 30, 2018 were owned as of the beginning of each of the periods presented. Unless otherwise stated, all reported results compare the third quarter ended September 30, 2018 with the third quarter ended September 30, 2017 (see discussion below). The reconciliation of non-GAAP financial measures is included in the financial tables accompanying this press release.

Ashford Hospitality Trust Inc – ASHFORD TRUST ANNOUNCES AGREEMENT TO ACQUIRE THE LA POSADA DE SANTA FE FOR $50 MILLION (October 9th, 2018)

Iconic boutique resort located in the affluent and high barriers-to-entry Santa Fe, New Mexico market proximate to the historic Santa Fe Plaza

Ashford Hospitality Trust Inc – CONSOLIDATED, AMENDED AND RESTATED HOTEL MASTER MANAGEMENT AGREEMENT by and among ASHFORD TRS CORPORATION a Delaware corporation and RI MANCHESTER TENANT CORPORATION a Delaware corporation and CY MANCHESTER TENANT CORPORATION a Delaware corporation and REMINGTON LODGING & HOSPITALITY, LLC a Delaware limited liability company (August 14th, 2018)

THIS CONSOLIDATED, AMENDED AND RESTATED HOTEL MASTER MANAGEMENT AGREEMENT is made and entered into on this 8th day of August, 2018, by and among ASHFORD TRS CORPORATION, a Delaware corporation, RI MANCHESTER TENANT CORPORATION, a Delaware corporation, and CY MANCHESTER TENANT CORPORATION, a Delaware corporation (together with any taxable REIT subsidiaries of the Partnership hereafter existing, hereinafter referred to as “Lessee”), REMINGTON LODGING & HOSPITALITY, LLC, a Delaware limited liability company (hereinafter referred to as “Manager”), and for the limited purposes of Article VIII herein, the Landlords (defined below).

Ashford Hospitality Trust Inc – MUTUAL EXCLUSIVITY AGREEMENT (August 14th, 2018)

THIS MUTUAL EXCLUSIVITY AGREEMENT (this “Agreement”) is entered as of the 8th day of August, 2018  by and among ASHFORD HOSPITALITY LIMITED PARTNERSHIP, a Delaware limited partnership (the “Partnership”), ASHFORD HOSPITALITY TRUST, INC., a Maryland corporation (the “REIT”), and PROJECT MANAGEMENT LLC, a Maryland limited liability company (“Manager”).

Ashford Hospitality Trust Inc – MASTER PROJECT MANAGEMENT AGREEMENT by and among ASHFORD TRS CORPORATION a Delaware corporation and RI MANCHESTER TENANT CORPORATION a Delaware corporation and CY MANCHESTER TENANT CORPORATION a Delaware corporation and PROJECT MANAGEMENT, LLC a Maryland limited liability company and ASHFORD HOSPITALITY LIMITED PARTNERSHIP a Delaware limited partnership (August 14th, 2018)

THIS MASTER PROJECT MANAGEMENT AGREEMENT is made and entered into on this 8th day of August, 2018, by and among ASHFORD TRS CORPORATION, a Delaware corporation, RI MANCHESTER TENANT CORPORATION, a Delaware corporation, and CY MANCHESTER TENANT CORPORATION, a Delaware corporation (together with any taxable REIT subsidiaries of the Partnership hereafter existing, hereinafter referred to as “Lessee”), PROJECT MANAGEMENT LLC, a Maryland limited liability company (hereinafter referred to as “Manager”), Ashford Hospitality Limited Partnership, a Delaware limited partnership (“Partnership”) and for the limited purposes of Article VIII herein, the Landlords (defined below).

Ashford Hospitality Trust Inc – AMENDED AND RESTATED MUTUAL EXCLUSIVITY AGREEMENT (August 14th, 2018)

THIS AMENDED & RESTATED MUTUAL EXCLUSIVITY AGREEMENT (this “Agreement”) is entered as of the 8th day of August, 2018 by and among ASHFORD HOSPITALITY LIMITED PARTNERSHIP, a Delaware limited partnership (the “Partnership”), ASHFORD HOSPITALITY TRUST, INC., a Maryland corporation (the “REIT”), and REMINGTON LODGING & HOSPITALITY, LLC, a Delaware limited liability company (“Manager”), and is consented and agreed to by MONTY J. BENNETT as a  Remington Affiliate.

Ashford Hospitality Trust Inc – August 3, 2018 (August 3rd, 2018)

We have acted as special United States federal income tax counsel to Ashford Hospitality Trust, Inc., a Maryland corporation (the “Company”), in connection with the preparation of the Additional Material Federal Income Tax Considerations included in Amendment No. 1 (“Amendment No. 1”), dated on or about the date hereof to prospectus supplement (the Prospectus Supplement”) dated December 11, 2017, with respect to the offer and sale of the shares of common stock of the Company with an aggregate public offering price of $100,000,000 and a prospectus (the “Base Prospectus”) dated September 28, 2017, included in a registration statement,  No. 333-220459 (the “Registration Statement”) on Form S-3 filed by the Company with the Securities and Exchange Commission (the “SEC”), with respect to the offer and sale of various debt and equity securities with an aggregate public offering price of $500,000,000. You have requested our opinion as to certain United States federal income tax matters in con

Ashford Hospitality Trust Inc – ASHFORD TRUST REPORTS SECOND QUARTER 2018 RESULTS (August 2nd, 2018)

DALLAS, August 2, 2018 - Ashford Hospitality Trust, Inc. (NYSE: AHT) (“Ashford Trust” or the “Company”) today reported financial results and performance measures for the second quarter ended June 30, 2018. The performance measurements for Occupancy, Average Daily Rate (ADR), Revenue Per Available Room (RevPAR), and Hotel EBITDA are comparable assuming each of the hotel properties in the Company’s hotel portfolio as of June 30, 2018 were owned as of the beginning of each of the periods presented. Unless otherwise stated, all reported results compare the second quarter ended June 30, 2018 with the second quarter ended June 30, 2017 (see discussion below). The reconciliation of non-GAAP financial measures is included in the financial tables accompanying this press release.

Ashford Hospitality Trust Inc – ASHFORD TRUST COMPLETES ACQUISITION OF THE HILTON ALEXANDRIA OLD TOWN (July 2nd, 2018)

This acquisition of the Hilton Alexandria Old Town is expected to be Ashford Trust’s first hotel acquisition to benefit from the Enhanced Return Funding Program (the “Program” or “ERFP”), which was announced on June 26, 2018. In connection with this acquisition and subject to the terms of the ERFP, Ashford Inc. has committed to provide Ashford Trust with approximately $11.1 million of cash via the future purchase of hotel furniture, fixtures, and equipment (“FF&E”) at Ashford Trust properties.

Ashford Hospitality Trust Inc – ENHANCED RETURN FUNDING PROGRAM AGREEMENT AND AMENDMENT NO. 1 TO THE AMENDED AND RESTATED ADVISORY AGREEMENT (June 26th, 2018)

THIS ENHANCED RETURN FUNDING PROGRAM AGREEMENT AND AMENDMENT NO. 1 TO THE AMENDED AND RESTATED ADVISORY AGREEMENT (this “ERFP Agreement”) is dated and effective as of June 26, 2018 (the “Effective Date”) by and among ASHFORD HOSPITALITY TRUST, INC., a Maryland corporation (“Ashford Trust” or the “Company”), ASHFORD HOSPITALITY LIMITED PARTNERSHIP, a Delaware limited partnership (the “Operating Partnership”), ASHFORD TRS CORPORATION, a Delaware corporation (“ASHFORD TRS”), ASHFORD INC., a Maryland corporation (“Ashford Inc.”), and ASHFORD HOSPITALITY ADVISORS LLC, a Delaware limited liability company (“Ashford LLC” and, together with Ashford Inc., the “Advisor”), which is the operating company of Ashford Inc.  All capitalized terms appearing herein that are not otherwise defined shall have the meanings ascribed to them in the Amended and Restated Advisory Agreement dated and effective on June 10, 2015 by and among the parties hereto (as amended from time to time (including pursuant to t

Ashford Hospitality Trust Inc – Ashford Inc. (NYSE American: AINC) Ashford Hospitality Trust (NYSE: AHT) Enhanced Return Funding Program (“ERFP”) & Ashford Hospitality Trust Acquisition of Hilton Alexandria Old Town Investor Presentation – June 2018 Ashford Inc. Ashford Hospitality Trust Enhanced Return Funding Program Designed to produce strong hotel returns at AHT and strong fee growth at AINC $50 million ERFP commitment from AINC may enable AHT to acquire up to $500 million of new A Theoretical ERFP Example: $100 million Ashford Trust acquisition with $10 million of ERFP from AINC hotels Structured to add 700 to 1,200 bas (June 26th, 2018)
Ashford Hospitality Trust Inc – NEWS RELEASE (June 26th, 2018)

·                  Ashford Inc. to provide Ashford Trust with funding of a maximum of $50 million in connection with up to $500 million of future Ashford Trust hotel acquisitions

Ashford Hospitality Trust Inc – LOAN AGREEMENT Dated as of June 13, 2018 Between (June 19th, 2018)

THIS LOAN AGREEMENT, dated as of June 13, 2018 (as amended, restated, replaced, supplemented or otherwise modified from time to time, this “Agreement”), between BANK OF AMERICA, N.A., a national banking association, having an address at 214 North Tryon Street, NC1-027-15-01, Charlotte, North Carolina 28255 (“BofA”), BARCLAYS BANK PLC, a public company registered in England and Wales, having an address at 745 Seventh Avenue, New York, New York 10019 (“Barclays”) and MORGAN STANLEY BANK, N.A., a national banking association, having an address at 1585 Broadway, New York, New York 10036 (“MS”; and together with BofA and Barclays, and each of their respective successors and/or assigns, “Lender”) and each of the parties set forth on Schedule I attached hereto, each having an address c/o Ashford Hospitality Trust, 14185 Dallas Parkway, Suite 1100, Dallas, Texas 75254 (together with their successors and/or assigns, individually and/or collectively, as the context may require, “Borrower”).

Ashford Hospitality Trust Inc – JUNIOR MEZZANINE LOAN AGREEMENT Dated as of June 13, 2018 Between ASHFORD JUNIOR F LLC, as Borrower and (June 19th, 2018)

THIS JUNIOR MEZZANINE LOAN AGREEMENT, dated as of June 13, 2018 (as amended, restated, replaced, supplemented or otherwise modified from time to time, this “Agreement”), between BANK OF AMERICA, N.A., a national banking association, having an address at 214 North Tryon Street, NC1-027-15-01, Charlotte, North Carolina 28255 (“BofA”), BARCLAYS BANK PLC, a public company registered in England and Wales, having an address at 745 Seventh Avenue, New York, New York 10019 (“Barclays”) and MORGAN STANLEY MORTGAGE CAPITAL HOLDINGS LLC, a New York limited liability company, having an address at 1585 Broadway, New York, New York 10036 (“MS”; and together with BofA and Barclays, and each of their respective successors and/or assigns, “Lender”) and ASHFORD JUNIOR F LLC, a Delaware limited liability company, having an address c/o Ashford Hospitality Trust, 14185 Dallas Parkway, Suite 1100, Dallas, Texas 75254 (together with its successors and/or assigns, “Borrower”).

Ashford Hospitality Trust Inc – LOAN AGREEMENT Dated as of June 13, 2018 Between (June 19th, 2018)

THIS LOAN AGREEMENT, dated as of June 13, 2018 (as amended, restated, replaced, supplemented or otherwise modified from time to time, this “Agreement”), between BANK OF AMERICA, N.A., a national banking association, having an address at 214 North Tryon Street, NC1-027-15-01, Charlotte, North Carolina 28255 (“BofA”), BARCLAYS BANK PLC, a public company registered in England and Wales, having an address at 745 Seventh Avenue, New York, New York 10019 (“Barclays”) and MORGAN STANLEY BANK, N.A., a national banking association, having an address at 1585 Broadway, New York, New York 10036 (“MS”; and together with BofA and Barclays, and each of their respective successors and/or assigns, “Lender”) and each of the parties set forth on Schedule I attached hereto, each having an address c/o Ashford Hospitality Trust, 14185 Dallas Parkway, Suite 1100, Dallas, Texas 75254 (together with their successors and/or assigns, individually and/or collectively, as the context may require, “Borrower”).

Ashford Hospitality Trust Inc – LOAN AGREEMENT Dated as of June 13, 2018 Between (June 19th, 2018)

THIS LOAN AGREEMENT, dated as of June 13, 2018 (as amended, restated, replaced, supplemented or otherwise modified from time to time, this “Agreement”), between BANK OF AMERICA, N.A., a national banking association, having an address at 214 North Tryon Street, NC1-027-15-01, Charlotte, North Carolina 28255 (“BofA”), BARCLAYS BANK PLC, a public company registered in England and Wales, having an address at 745 Seventh Avenue, New York, New York 10019 (“Barclays”) and MORGAN STANLEY BANK, N.A., a national banking association, having an address at 1585 Broadway, New York, New York 10036 (“MS”; and together with BofA and Barclays, and each of their respective successors and/or assigns, “Lender”) and each of the parties set forth on Schedule I attached hereto, each having an address c/o Ashford Hospitality Trust, 14185 Dallas Parkway, Suite 1100, Dallas, Texas 75254 (together with their successors and/or assigns, individually and/or collectively, as the context may require, “Borrower”).

Ashford Hospitality Trust Inc – JUNIOR MEZZANINE LOAN AGREEMENT Dated as of June 13, 2018 Between ASHFORD JUNIOR E LLC, as Borrower and (June 19th, 2018)

THIS JUNIOR MEZZANINE LOAN AGREEMENT, dated as of June 13, 2018 (as amended, restated, replaced, supplemented or otherwise modified from time to time, this “Agreement”), between BANK OF AMERICA, N.A., a national banking association, having an address at 214 North Tryon Street, NC1-027-15-01, Charlotte, North Carolina 28255 (“BofA”), BARCLAYS BANK PLC, a public company registered in England and Wales, having an address at 745 Seventh Avenue, New York, New York 10019 (“Barclays”) and MORGAN STANLEY MORTGAGE CAPITAL HOLDINGS LLC, a New York limited liability company, having an address at 1585 Broadway, New York, New York 10036 (“MS”; and together with BofA and Barclays, and each of their respective successors and/or assigns, “Lender”) and ASHFORD JUNIOR E LLC, a Delaware limited liability company, having an address c/o Ashford Hospitality Trust, 14185 Dallas Parkway, Suite 1100, Dallas, Texas 75254 (together with its successors and/or assigns, “Borrower”).

Ashford Hospitality Trust Inc – SENIOR MEZZANINE LOAN AGREEMENT Dated as of June 13, 2018 Between (June 19th, 2018)

THIS SENIOR MEZZANINE LOAN AGREEMENT, dated as of June 13, 2018 (as amended, restated, replaced, supplemented or otherwise modified from time to time, this “Agreement”), between BANK OF AMERICA, N.A., a national banking association, having an address at 214 North Tryon Street, NC1-027-15-01, Charlotte, North Carolina 28255 (“BofA”), BARCLAYS BANK PLC, a public company registered in England and Wales, having an address at 745 Seventh Avenue, New York, New York 10019 (“Barclays”) and MORGAN STANLEY MORTGAGE CAPITAL HOLDINGS LLC, a New York limited liability company, having an address at 1585 Broadway, New York, New York 10036 (“MS”; and together with BofA and Barclays, and each of their respective successors and/or assigns, “Lender”) and ASHFORD SENIOR B LLC, a Delaware limited liability company, having an address c/o Ashford Hospitality Trust, 14185 Dallas Parkway, Suite 1100, Dallas, Texas 75254 (together with its successors and/or assigns, “Borrower”).

Ashford Hospitality Trust Inc – SENIOR MEZZANINE LOAN AGREEMENT Dated as of June 13, 2018 Between (June 19th, 2018)

THIS SENIOR MEZZANINE LOAN AGREEMENT, dated as of June 13, 2018 (as amended, restated, replaced, supplemented or otherwise modified from time to time, this “Agreement”), between BANK OF AMERICA, N.A., a national banking association, having an address at 214 North Tryon Street, NC1-027-15-01, Charlotte, North Carolina 28255 (“BofA”), BARCLAYS BANK PLC, a public company registered in England and Wales, having an address at 745 Seventh Avenue, New York, New York 10019 (“Barclays”) and MORGAN STANLEY MORTGAGE CAPITAL HOLDINGS LLC, a New York limited liability company, having an address at 1585 Broadway, New York, New York 10036 (“MS”; and together with BofA and Barclays, and each of their respective successors and/or assigns, “Lender”) and ASHFORD SENIOR A LLC, a Delaware limited liability company, having an address c/o Ashford Hospitality Trust, 14185 Dallas Parkway, Suite 1100, Dallas, Texas 75254 (together with its successors and/or assigns, “Borrower”).

Ashford Hospitality Trust Inc – SENIOR MEZZANINE LOAN AGREEMENT Dated as of June 13, 2018 Between (June 19th, 2018)

THIS SENIOR MEZZANINE LOAN AGREEMENT, dated as of June 13, 2018 (as amended, restated, replaced, supplemented or otherwise modified from time to time, this “Agreement”), between BANK OF AMERICA, N.A., a national banking association, having an address at 214 North Tryon Street, NC1-027-15-01, Charlotte, North Carolina 28255 (“BofA”), BARCLAYS BANK PLC, a public company registered in England and Wales, having an address at 745 Seventh Avenue, New York, New York 10019 (“Barclays”) and MORGAN STANLEY MORTGAGE CAPITAL HOLDINGS LLC, a New York limited liability company, having an address at 1585 Broadway, New York, New York 10036 (“MS”; and together with BofA and Barclays, and each of their respective successors and/or assigns, “Lender”) and ASHFORD SENIOR C LLC, a Delaware limited liability company, having an address c/o Ashford Hospitality Trust, 14185 Dallas Parkway, Suite 1100, Dallas, Texas 75254 (together with its successors and/or assigns, “Borrower”).

Ashford Hospitality Trust Inc – SENIOR MEZZANINE LOAN AGREEMENT Dated as of June 13, 2018 Between (June 19th, 2018)

THIS SENIOR MEZZANINE LOAN AGREEMENT, dated as of June 13, 2018 (as amended, restated, replaced, supplemented or otherwise modified from time to time, this “Agreement”), between BANK OF AMERICA, N.A., a national banking association, having an address at 214 North Tryon Street, NC1-027-15-01, Charlotte, North Carolina 28255 (“BofA”), BARCLAYS BANK PLC, a public company registered in England and Wales, having an address at 745 Seventh Avenue, New York, New York 10019 (“Barclays”) and MORGAN STANLEY MORTGAGE CAPITAL HOLDINGS LLC, a New York limited liability company, having an address at 1585 Broadway, New York, New York 10036 (“MS”; and together with BofA and Barclays, and each of their respective successors and/or assigns, “Lender”) and ASHFORD SENIOR D LLC, a Delaware limited liability company, having an address c/o Ashford Hospitality Trust, 14185 Dallas Parkway, Suite 1100, Dallas, Texas 75254 (together with its successors and/or assigns, “Borrower”).

Ashford Hospitality Trust Inc – SENIOR MEZZANINE LOAN AGREEMENT Dated as of June 13, 2018 Between (June 19th, 2018)

THIS SENIOR MEZZANINE LOAN AGREEMENT, dated as of June 13, 2018 (as amended, restated, replaced, supplemented or otherwise modified from time to time, this “Agreement”), between BANK OF AMERICA, N.A., a national banking association, having an address at 214 North Tryon Street, NC1-027-15-01, Charlotte, North Carolina 28255 (“BofA”), BARCLAYS BANK PLC, a public company registered in England and Wales, having an address at 745 Seventh Avenue, New York, New York 10019 (“Barclays”) and MORGAN STANLEY MORTGAGE CAPITAL HOLDINGS LLC, a New York limited liability company, having an address at 1585 Broadway, New York, New York 10036 (“MS”; and together with BofA and Barclays, and each of their respective successors and/or assigns, “Lender”) and ASHFORD SENIOR E LLC, a Delaware limited liability company, having an address c/o Ashford Hospitality Trust, 14185 Dallas Parkway, Suite 1100, Dallas, Texas 75254 (together with its successors and/or assigns, “Borrower”).

Ashford Hospitality Trust Inc – LOAN AGREEMENT Dated as of June 13, 2018 Between (June 19th, 2018)

THIS LOAN AGREEMENT, dated as of June 13, 2018 (as amended, restated, replaced, supplemented or otherwise modified from time to time, this “Agreement”), between BANK OF AMERICA, N.A., a national banking association, having an address at 214 North Tryon Street, NC1-027-15-01, Charlotte, North Carolina 28255 (“BofA”), BARCLAYS BANK PLC, a public company registered in England and Wales, having an address at 745 Seventh Avenue, New York, New York 10019 (“Barclays”) and MORGAN STANLEY BANK, N.A., a national banking association, having an address at 1585 Broadway, New York, New York 10036 (“MS”; and together with BofA and Barclays, and each of their respective successors and/or assigns, “Lender”) and each of the parties set forth on Schedule I attached hereto, each having an address c/o Ashford Hospitality Trust, 14185 Dallas Parkway, Suite 1100, Dallas, Texas 75254 (together with their successors and/or assigns, individually and/or collectively, as the context may require, “Borrower”).

Ashford Hospitality Trust Inc – JUNIOR MEZZANINE LOAN AGREEMENT Dated as of June 13, 2018 Between ASHFORD JUNIOR C LLC, as Borrower and (June 19th, 2018)

THIS JUNIOR MEZZANINE LOAN AGREEMENT, dated as of June 13, 2018 (as amended, restated, replaced, supplemented or otherwise modified from time to time, this “Agreement”), between BANK OF AMERICA, N.A., a national banking association, having an address at 214 North Tryon Street, NC1-027-15-01, Charlotte, North Carolina 28255 (“BofA”), BARCLAYS BANK PLC, a public company registered in England and Wales, having an address at 745 Seventh Avenue, New York, New York 10019 (“Barclays”) and MORGAN STANLEY MORTGAGE CAPITAL HOLDINGS LLC, a New York limited liability company, having an address at 1585 Broadway, New York, New York 10036 (“MS”; and together with BofA and Barclays, and each of their respective successors and/or assigns, “Lender”) and ASHFORD JUNIOR C LLC, a Delaware limited liability company, having an address c/o Ashford Hospitality Trust, 14185 Dallas Parkway, Suite 1100, Dallas, Texas 75254 (together with its successors and/or assigns, “Borrower”).

Ashford Hospitality Trust Inc – JUNIOR MEZZANINE LOAN AGREEMENT Dated as of June 13, 2018 Between ASHFORD JUNIOR D LLC, as Borrower and (June 19th, 2018)

THIS JUNIOR MEZZANINE LOAN AGREEMENT, dated as of June 13, 2018 (as amended, restated, replaced, supplemented or otherwise modified from time to time, this “Agreement”), between BANK OF AMERICA, N.A., a national banking association, having an address at 214 North Tryon Street, NC1-027-15-01, Charlotte, North Carolina 28255 (“BofA”), BARCLAYS BANK PLC, a public company registered in England and Wales, having an address at 745 Seventh Avenue, New York, New York 10019 (“Barclays”) and MORGAN STANLEY MORTGAGE CAPITAL HOLDINGS LLC, a New York limited liability company, having an address at 1585 Broadway, New York, New York 10036 (“MS”; and together with BofA and Barclays, and each of their respective successors and/or assigns, “Lender”) and ASHFORD JUNIOR D LLC, a Delaware limited liability company, having an address c/o Ashford Hospitality Trust, 14185 Dallas Parkway, Suite 1100, Dallas, Texas 75254 (together with its successors and/or assigns, “Borrower”).

Ashford Hospitality Trust Inc – LOAN AGREEMENT Dated as of June 13, 2018 Between (June 19th, 2018)

THIS LOAN AGREEMENT, dated as of June 13, 2018 (as amended, restated, replaced, supplemented or otherwise modified from time to time, this “Agreement”), between BANK OF AMERICA, N.A., a national banking association, having an address at 214 North Tryon Street, NC1-027-15-01, Charlotte, North Carolina 28255 (“BofA”), BARCLAYS BANK PLC, a public company registered in England and Wales, having an address at 745 Seventh Avenue, New York, New York 10019 (“Barclays”) and MORGAN STANLEY BANK, N.A., a national banking association, having an address at 1585 Broadway, New York, New York 10036 (“MS”; and together with BofA and Barclays, and each of their respective successors and/or assigns, “Lender”) and each of the parties set forth on Schedule I attached hereto, each having an address c/o Ashford Hospitality Trust, 14185 Dallas Parkway, Suite 1100, Dallas, Texas 75254 (together with their successors and/or assigns, individually and/or collectively, as the context may require, “Borrower”).

Ashford Hospitality Trust Inc – SENIOR MEZZANINE LOAN AGREEMENT Dated as of June 13, 2018 Between (June 19th, 2018)

THIS SENIOR MEZZANINE LOAN AGREEMENT, dated as of June 13, 2018 (as amended, restated, replaced, supplemented or otherwise modified from time to time, this “Agreement”), between BANK OF AMERICA, N.A., a national banking association, having an address at 214 North Tryon Street, NC1-027-15-01, Charlotte, North Carolina 28255 (“BofA”), BARCLAYS BANK PLC, a public company registered in England and Wales, having an address at 745 Seventh Avenue, New York, New York 10019 (“Barclays”) and MORGAN STANLEY MORTGAGE CAPITAL HOLDINGS LLC, a New York limited liability company, having an address at 1585 Broadway, New York, New York 10036 (“MS”; and together with BofA and Barclays, and each of their respective successors and/or assigns, “Lender”) and ASHFORD SENIOR F LLC, a Delaware limited liability company, having an address c/o Ashford Hospitality Trust, 14185 Dallas Parkway, Suite 1100, Dallas, Texas 75254 (together with its successors and/or assigns, “Borrower”).

Ashford Hospitality Trust Inc – LOAN AGREEMENT Dated as of June 13, 2018 Between (June 19th, 2018)

THIS LOAN AGREEMENT, dated as of June 13, 2018 (as amended, restated, replaced, supplemented or otherwise modified from time to time, this “Agreement”), between BANK OF AMERICA, N.A., a national banking association, having an address at 214 North Tryon Street, NC1-027-15-01, Charlotte, North Carolina 28255 (“BofA”), BARCLAYS BANK PLC, a public company registered in England and Wales, having an address at 745 Seventh Avenue, New York, New York 10019 (“Barclays”) and MORGAN STANLEY BANK, N.A., a national banking association, having an address at 1585 Broadway, New York, New York 10036 (“MS”; and together with BofA and Barclays, and each of their respective successors and/or assigns, “Lender”) and each of the parties set forth on Schedule I attached hereto, each having an address c/o Ashford Hospitality Trust, 14185 Dallas Parkway, Suite 1100, Dallas, Texas 75254 (together with their successors and/or assigns, individually and/or collectively, as the context may require, “Borrower”).

Ashford Hospitality Trust Inc – ASHFORD TRUST REPORTS FIRST QUARTER 2018 RESULTS (May 3rd, 2018)

DALLAS, May 3, 2018 - Ashford Hospitality Trust, Inc. (NYSE: AHT) (“Ashford Trust” or the “Company”) today reported financial results and performance measures for the first quarter ended March 31, 2018. The performance measurements for Occupancy, Average Daily Rate (ADR), Revenue Per Available Room (RevPAR), and Hotel EBITDA are comparable assuming each of the hotel properties in the Company’s hotel portfolio as of March 31, 2018 were owned as of the beginning of each of the periods presented. Unless otherwise stated, all reported results compare the first quarter ended March 31, 2018 with the first quarter March 31, 2017 (see discussion below). The reconciliation of non-GAAP financial measures is included in the financial tables accompanying this press release.

Ashford Hospitality Trust Inc – ASHFORD TRUST REPORTS FOURTH QUARTER AND YEAR END 2017 RESULTS (March 1st, 2018)

DALLAS, March 1, 2018 - Ashford Hospitality Trust, Inc. (NYSE: AHT) (“Ashford Trust” or the “Company”) today reported financial results and performance measures for the fourth quarter ended December 31, 2017. The performance measurements for Occupancy, Average Daily Rate (ADR), Revenue Per Available Room (RevPAR), and Hotel EBITDA are comparable assuming each of the hotel properties in the Company’s hotel portfolio as of December 31, 2017, were owned as of the beginning of each of the periods presented. Unless otherwise stated, all reported results compare the fourth quarter ended December 31, 2017, with the fourth quarter December 31, 2016 (see discussion below). The reconciliation of non-GAAP financial measures is included in the financial tables accompanying this press release.

Ashford Hospitality Trust Inc – AMENDMENT NO. 5 TO SEVENTH AMENDED AND RESTATED AGREEMENT OF LIMITED PARTNERSHIP OF ASHFORD HOSPITALITY LIMITED PARTNERSHIP December 13, 2017 (December 14th, 2017)

This Amendment No. 5 to the Seventh Amended and Restated Agreement of Limited Partnership of Ashford Hospitality Limited Partnership (this “Amendment”) is made as of December 13, 2017, by Ashford OP General Partner LLC, a Delaware limited liability company, as general partner (the “General Partner”) of Ashford Hospitality Limited Partnership, a Delaware limited partnership (the “Partnership”), and by Ashford OP Limited Partner LLC, a Delaware limited liability company, as a limited partner of the Partnership, pursuant to the authority granted in Section 11.1(d) of the Seventh Amended and Restated Agreement of Limited Partnership of Ashford Hospitality Limited Partnership, dated April 14, 2016, as amended by Amendment No. 1 thereto dated as of July 13, 2016, Amendment No. 2 thereto dated October 18, 2016, Amendment No. 3 thereto dated as of August 25, 2017 and Amendment No. 4 thereto dated as of November 17, 2017 (the “Partnership Agreement”), for the purpose of issuing additional Commo

Ashford Hospitality Trust Inc – ASHFORD HOSPITALITY TRUST, INC. Up to of Common Stock FORM OF EQUITY DISTRIBUTION AGREEMENT Dated: December 11, 2017 (December 11th, 2017)

Each of Ashford Hospitality Trust, Inc., a Maryland corporation (the “Company”), Ashford Hospitality Limited Partnership, a Delaware limited partnership (the “Operating Partnership”), and Ashford Hospitality Advisors LLC, a Delaware limited liability company (the “Advisor”), confirms its agreement (this “Agreement”) with [                    ] (the “Agent”), as follows:

Ashford Hospitality Trust Inc – AMENDMENT NO. 4 TO SEVENTH AMENDED AND RESTATED AGREEMENT OF LIMITED PARTNERSHIP OF ASHFORD HOSPITALITY LIMITED PARTNERSHIP November 17, 2017 (November 17th, 2017)

This Amendment No. 4 to the Seventh Amended and Restated Agreement of Limited Partnership of Ashford Hospitality Limited Partnership (this “Amendment”) is made as of November 17, 2017, by Ashford OP General Partner LLC, a Delaware limited liability company, as general partner (the “General Partner”) of Ashford Hospitality Limited Partnership, a Delaware limited partnership (the “Partnership”), pursuant to the authority granted to the General Partner in Section 11.1(b) of the Seventh Amended and Restated Agreement of Limited Partnership of Ashford Hospitality Limited Partnership, dated April 14, 2016, as amended by Amendment No. 1 thereto dated as of July 13, 2016, Amendment No. 2 thereto dated October 18, 2016 and Amendment No. 3 thereto dated as of August 25, 2017 (the “Partnership Agreement”), for the purpose of issuing additional Partnership Units in the form of Preferred Partnership Units.  Capitalized terms used and not defined herein shall have the meanings set forth in the Partn

Ashford Hospitality Trust Inc – ASHFORD HOSPITALITY TRUST, INC. ARTICLES SUPPLEMENTARY ESTABLISHING AND FIXING THE RIGHTS AND PREFERENCES OF A SERIES OF PREFERRED STOCK (November 14th, 2017)

Ashford Hospitality Trust, Inc., a Maryland corporation (the “Corporation”), having its principal office in Dallas, Texas certifies to the State Department of Assessments and Taxation of Maryland that: