Ashford Hospitality provides update on Hurricane Irma
Ashford Hospitality Trust announced that after preliminary inspections, the company's hotels in the path of Hurricane Irma did not sustain any significant damage with a few properties sustaining minor damage. All of the company's properties are open and operating. The affected hotels in Florida represented approximately 13% of the company's year-to-date Hotel EBITDA through the second quarter. Ashford Trust continues to assess the full impact of the damage caused by Hurricane Irma, and all of its properties have comprehensive property, casualty, flood and business interruption insurance, subject to a maximum $10M deductible. The company believes no damage will exceed coverage caps, and will provide additional updates in the event of any material changes.