    <SEC-DOCUMENT>0001213900-24-039200-index.html : 20240502
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    <ACCEPTANCE-DATETIME>20240502165528
    ACCESSION NUMBER:		0001213900-24-039200
    CONFORMED SUBMISSION TYPE:	DFAN14A
    PUBLIC DOCUMENT COUNT:		30
    FILED AS OF DATE:		20240502
    DATE AS OF CHANGE:		20240502

    SUBJECT COMPANY:

    	COMPANY DATA:
    		COMPANY CONFORMED NAME:			ASHFORD HOSPITALITY TRUST INC
    		CENTRAL INDEX KEY:			0001232582
    		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE INVESTMENT TRUSTS [6798]
    		ORGANIZATION NAME:           	05 Real Estate & Construction
    		IRS NUMBER:				861062192
    		STATE OF INCORPORATION:			MD
    		FISCAL YEAR END:			1231

    	FILING VALUES:
    		FORM TYPE:		DFAN14A
    		SEC ACT:		1934 Act
    		SEC FILE NUMBER:	001-31775
    		FILM NUMBER:		24909403

    	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:			Blackwells Capital LLC
    		CENTRAL INDEX KEY:			0001720183
    		ORGANIZATION NAME:
    		IRS NUMBER:				815196117
    		STATE OF INCORPORATION:			DE
    		FISCAL YEAR END:			1231

    	FILING VALUES:
    		FORM TYPE:		DFAN14A

    	BUSINESS ADDRESS:
    		STREET 1:		800 THIRD AVENUE
    		STREET 2:		39TH FLOOR
    		CITY:			NEW YORK
    		STATE:			NY
    		ZIP:			10022
    		BUSINESS PHONE:		212-792-6096

    	MAIL ADDRESS:
    		STREET 1:		800 THIRD AVENUE
    		STREET 2:		39TH FLOOR
    		CITY:			NEW YORK
    		STATE:			NY
    		ZIP:			10022
    </SEC-HEADER>
    <DOCUMENT>
    <TYPE>DFAN14A
    <SEQUENCE>1
    <FILENAME>ea0204719-dfan14a_blackwells.htm
    <DESCRIPTION>DFAN14A
    <TEXT>
    Document 1 - file: ea0204719-dfan14a_blackwells.htm

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    <SEQUENCE>2
    <FILENAME>ex1_001.jpg
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    Document 2 - file: ex1_001.jpg

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    <SEQUENCE>3
    <FILENAME>ex2_001.jpg
    <DESCRIPTION>GRAPHIC
    <TEXT>
    Document 3 - file: ex2_001.jpg

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    <SEQUENCE>4
    <FILENAME>ex2_002.jpg
    <DESCRIPTION>GRAPHIC
    <TEXT>
    Document 4 - file: ex2_002.jpg

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    <SEQUENCE>5
    <FILENAME>ex2_003.jpg
    <DESCRIPTION>GRAPHIC
    <TEXT>
    Document 5 - file: ex2_003.jpg

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    <SEQUENCE>6
    <FILENAME>ex2_004.jpg
    <DESCRIPTION>GRAPHIC
    <TEXT>
    Document 6 - file: ex2_004.jpg

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    <DOCUMENT>
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    <SEQUENCE>7
    <FILENAME>ex2_005.jpg
    <DESCRIPTION>GRAPHIC
    <TEXT>
    Document 7 - file: ex2_005.jpg

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    <FILENAME>ex2_006.jpg
    <DESCRIPTION>GRAPHIC
    <TEXT>
    Document 8 - file: ex2_006.jpg

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    <SEQUENCE>9
    <FILENAME>ex2_007.jpg
    <DESCRIPTION>GRAPHIC
    <TEXT>
    Document 9 - file: ex2_007.jpg

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    <SEQUENCE>10
    <FILENAME>ex2_008.jpg
    <DESCRIPTION>GRAPHIC
    <TEXT>
    Document 10 - file: ex2_008.jpg

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    <FILENAME>ex2_009.jpg
    <DESCRIPTION>GRAPHIC
    <TEXT>
    Document 11 - file: ex2_009.jpg

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    <FILENAME>ex2_010.jpg
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    <TEXT>
    Document 12 - file: ex2_010.jpg

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    <FILENAME>ex2_011.jpg
    <DESCRIPTION>GRAPHIC
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    Document 13 - file: ex2_011.jpg

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    <SEQUENCE>14
    <FILENAME>ex2_012.jpg
    <DESCRIPTION>GRAPHIC
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    Document 14 - file: ex2_012.jpg

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    <SEQUENCE>15
    <FILENAME>ex2_013.jpg
    <DESCRIPTION>GRAPHIC
    <TEXT>
    Document 15 - file: ex2_013.jpg

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    <FILENAME>ex2_014.jpg
    <DESCRIPTION>GRAPHIC
    <TEXT>
    Document 16 - file: ex2_014.jpg

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    <SEQUENCE>17
    <FILENAME>ex2_015.jpg
    <DESCRIPTION>GRAPHIC
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    Document 17 - file: ex2_015.jpg

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    <SEQUENCE>18
    <FILENAME>ex2_016.jpg
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    Document 18 - file: ex2_016.jpg

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    <SEQUENCE>19
    <FILENAME>ex2_017.jpg
    <DESCRIPTION>GRAPHIC
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    Document 19 - file: ex2_017.jpg

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    <FILENAME>ex2_018.jpg
    <DESCRIPTION>GRAPHIC
    <TEXT>
    Document 20 - file: ex2_018.jpg

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    <SEQUENCE>21
    <FILENAME>ex2_019.jpg
    <DESCRIPTION>GRAPHIC
    <TEXT>
    Document 21 - file: ex2_019.jpg

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    <SEQUENCE>22
    <FILENAME>ex2_020.jpg
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    Document 22 - file: ex2_020.jpg

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    <FILENAME>ex2_021.jpg
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    Document 23 - file: ex2_021.jpg

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    <SEQUENCE>24
    <FILENAME>ex2_022.jpg
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    Document 24 - file: ex2_022.jpg

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    <SEQUENCE>25
    <FILENAME>ex2_023.jpg
    <DESCRIPTION>GRAPHIC
    <TEXT>
    Document 25 - file: ex2_023.jpg

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    <SEQUENCE>26
    <FILENAME>ex2_024.jpg
    <DESCRIPTION>GRAPHIC
    <TEXT>
    Document 26 - file: ex2_024.jpg

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    <SEQUENCE>27
    <FILENAME>ex2_025.jpg
    <DESCRIPTION>GRAPHIC
    <TEXT>
    Document 27 - file: ex2_025.jpg

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    <SEQUENCE>28
    <FILENAME>ex2_026.jpg
    <DESCRIPTION>GRAPHIC
    <TEXT>
    Document 28 - file: ex2_026.jpg

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    <DOCUMENT>
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    <SEQUENCE>29
    <FILENAME>ex2_027.jpg
    <DESCRIPTION>GRAPHIC
    <TEXT>
    Document 29 - file: ex2_027.jpg

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    <DOCUMENT>
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    <SEQUENCE>30
    <FILENAME>ex2_028.jpg
    <DESCRIPTION>GRAPHIC
    <TEXT>
    Document 30 - file: ex2_028.jpg

    </DOCUMENT>
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