<SEC-DOCUMENT>0001104659-22-030892.txt : 20220307
<SEC-HEADER>0001104659-22-030892.hdr.sgml : 20220307
<ACCEPTANCE-DATETIME>20220307084013
ACCESSION NUMBER:		0001104659-22-030892
CONFORMED SUBMISSION TYPE:	FWP
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20220307
DATE AS OF CHANGE:		20220307

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ASHFORD HOSPITALITY TRUST INC
		CENTRAL INDEX KEY:			0001232582
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE INVESTMENT TRUSTS [6798]
		IRS NUMBER:				861062192
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		FWP
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	333-263323
		FILM NUMBER:		22716388

	BUSINESS ADDRESS:	
		STREET 1:		14185 DALLAS PARKWAY SUITE 1100
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75254
		BUSINESS PHONE:		9724909600

	MAIL ADDRESS:	
		STREET 1:		14185 DALLAS PARKWAY SUITE 1100
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75254

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ASHFORD HOSPITALITY TRUST INC
		CENTRAL INDEX KEY:			0001232582
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE INVESTMENT TRUSTS [6798]
		IRS NUMBER:				861062192
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		FWP

	BUSINESS ADDRESS:	
		STREET 1:		14185 DALLAS PARKWAY SUITE 1100
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75254
		BUSINESS PHONE:		9724909600

	MAIL ADDRESS:	
		STREET 1:		14185 DALLAS PARKWAY SUITE 1100
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75254
</SEC-HEADER>
<DOCUMENT>
<TYPE>FWP
<SEQUENCE>1
<FILENAME>tm228362d3_fwp.htm
<DESCRIPTION>FWP
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Issuer Free Writing Prospectus</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Filed Pursuant to Rule&nbsp;433</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Registration No.&nbsp;333-263323</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>March 7, 2022</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; font-size: 10pt"><IMG SRC="tm228362d3_fwpimg001.jpg" ALT="">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; width: 50%; font-size: 10pt">&nbsp;NEWS RELEASE</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 10%">Contact:</TD>
    <TD STYLE="width: 20%">Deric Eubanks&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD STYLE="width: 20%">Jordan Jennings</TD>
    <TD>Joseph Calabrese</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Chief Financial Officer&nbsp;&nbsp;&nbsp;</TD>
    <TD>Investor Relations&nbsp;&nbsp;&nbsp;</TD>
    <TD>Financial Relations Board&nbsp;&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>(972) 490-9600&nbsp;&nbsp;&nbsp;</TD>
    <TD>(972) 778-9487</TD>
    <TD>(212) 827-3772</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>Ashford
Trust Files Registration Statement For </B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>Non-Traded
Preferred Equity</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">DALLAS, March 7, 2022 -- Ashford Hospitality
Trust, Inc. (NYSE: AHT) (&#8220;Ashford Trust&#8221; or the &#8220;Company&#8221;) announced today that it filed a registration
statement on Friday, March 4 with the U.S. Securities and Exchange Commission (&#8220;SEC&#8221;) for its Series K and Series J
Redeemable Preferred Equity Stock (&#8220;Non-Traded Preferred Equity&#8221;). The registration statement provides for issuance of
Non-Traded Preferred Equity in a primary offering over the course of up to three years from the effective date. The Series K and
Series J Redeemable Preferred Stock are expected to have an initial annual dividend yield of 8% and 8.2% respectively, and the
Company will also offer a Dividend Reinvestment Plan for investors in the Non-Traded Preferred Equity. The registration statement is
subject to review by the SEC. Subject to such SEC review and other conditions, the Company expects to commence issuing limited
amounts of the Non-Traded Preferred Equity beginning in the third quarter of 2022.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#8220;We&#8217;re pleased to announce the
filing of the S-3 for the future offering of the Non-Traded Preferred Equity,&#8221; commented Rob Hays, Ashford Trust&#8217;s
President and Chief Executive Officer. &#8220;Demonstrating Ashford Trust&#8217;s strategic pivot from defense to offense, we
believe this offering will provide an attractive cost of capital and allow us to accretively grow our portfolio over time, subject
to future market conditions.&#8221; Mr. Hays added, &#8220;As an owner of institutional quality, geographically diverse lodging
assets with a successful track record of optimizing the performance of our hotels, we believe this additional capital source can
provide a long-term competitive advantage for our platform. Additionally, we have structured this security to have various
equity-like terms and features, providing capital that can be used not only for accretive acquisitions for our common stockholders
but also to accomplish long-term goals of improving our balance sheet. Further updates on our progress in respect to this capital
raising effort will be available in our SEC filings, company presentations, and discussed on our earnings conference calls in due
course.&#8221;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company has filed a registration statement
(including a preliminary prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should
read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information
about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC web site at www.sec.gov. Alternatively,
the Company, the dealer manager or any dealer participating in the offering will arrange to send you the prospectus if you request it
by calling toll-free 1-888-490-4292.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">A registration statement relating to these securities
has been filed with the SEC but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior
to the time the registration statement becomes effective. This press release does not constitute an offer to sell the securities and is
not soliciting an offer to buy the securities in any state or jurisdiction in which such an offer or solicitation would be unlawful.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">* * * * *</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Ashford Hospitality Trust is a real estate investment
trust (REIT) focused on investing predominantly in upper upscale, full-service hotels.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1.8pt 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1.8pt 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1.8pt 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Forward-Looking Statements</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Certain statements and assumptions in
this press release contain or are based upon &#8220;forward-looking&#8221; information and are being made pursuant to the safe
harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements in this press release include,
among others, statements about the Company&#8217;s strategy and future plans. These forward-looking statements are subject to risks
and uncertainties. When we use the words &#8220;will likely result,&#8221; &#8220;may,&#8221; &#8220;anticipate,&#8221;
 &#8220;estimate,&#8221; &#8220;should,&#8221; &#8220;expect,&#8221; &#8220;believe,&#8221; &#8220;intend,&#8221; or similar
expressions, we intend to identify forward-looking statements. Such statements are subject to numerous assumptions and
uncertainties, many of which are outside Ashford Trust&#8217;s control.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>These forward-looking statements are subject
to known and unknown risks and uncertainties, which could cause actual results to differ materially from those anticipated, including,
without limitation: the impact of COVID-19, and the rate of adoption and efficacy of vaccines to prevent COVID-19, on our business and
investment strategy; our ability to repay, refinance, or restructure our debt and the debt of certain of our subsidiaries; anticipated
or expected purchases or sales of assets; our projected operating results; completion of any pending transactions; our understanding of
our competition; market trends; projected capital expenditures; the impact of technology on our operations and business; general volatility
of the capital markets and the market price of our common stock and preferred stock; availability, terms and deployment of capital; availability
of qualified personnel; changes in our industry and the markets in which we operate, interest rates or the general economy; and the degree
and nature of our competition. These and other risk factors are more fully discussed in Ashford Trust&#8217;s filings with the Securities
and Exchange Commission.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>The forward-looking statements included in
this press release are only made as of the date of this press release. Such forward-looking statements are based on our beliefs, assumptions,
and expectations of our future performance taking into account all information currently known to us. These beliefs, assumptions, and
expectations can change as a result of many potential events or factors, not all of which are known to us. If a change occurs, our business,
financial condition, liquidity, results of operations, plans, and other objectives may vary materially from those expressed in our forward-looking
statements. You should carefully consider these risks when you make an investment decision concerning our securities. Investors should
not place undue reliance on these forward-looking statements. The Company can give no assurance that these forward-looking statements
will be attained or that any deviation will not occur. We are not obligated to publicly update or revise any forward-looking statements,
whether as a result of new information, future events or circumstances, changes in expectations, or otherwise, except to the extent required
by law.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
