<SEC-DOCUMENT>0001104659-25-119661.txt : 20251209
<SEC-HEADER>0001104659-25-119661.hdr.sgml : 20251209
<ACCEPTANCE-DATETIME>20251209160734
ACCESSION NUMBER:		0001104659-25-119661
CONFORMED SUBMISSION TYPE:	424B3
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20251209
DATE AS OF CHANGE:		20251209

FILER:

	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
		EIN:				861062192
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		424B3
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-283802
		FILM NUMBER:		251559146

	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>424B3
<SEQUENCE>1
<FILENAME>tm2533051d1_424b3.htm
<DESCRIPTION>424B3
<TEXT>
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Filed Pursuant to Rule&nbsp;424(b)(3)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Registration No.&nbsp;333-283802</B></P>

<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"><B>PROSPECTUS SUPPLEMENT NO. 13, DATED DECEMBER 9, 2025</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>TO THE PROSPECTUS, DATED FEBRUARY 7, 2025</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><IMG SRC="tm2533051d1_424b3-img01.jpg" ALT="" STYLE="height: 68px; width: 276px"></B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>11,200,000 Shares of Series&nbsp;L Redeemable
Preferred Stock<BR>
4,800,000 Shares of Series&nbsp;M Redeemable Preferred Stock</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>(Liquidation Preference $25.00 per share)</B></P>

<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: justify">This prospectus supplement no. 13 (this &ldquo;Supplement&rdquo;)
is part of and should be read in conjunction with the prospectus of Ashford Hospitality Trust,&nbsp;Inc., dated February&nbsp;7, 2025
(as supplemented to date, the &ldquo;Prospectus&rdquo;). Unless otherwise defined herein, capitalized terms used in this Supplement shall
have the same meanings as in the Prospectus. When used in this Supplement, the terms &ldquo;our Company,&rdquo; &ldquo;we,&rdquo; &ldquo;us,&rdquo;
or &ldquo;our&rdquo; refer to Ashford Hospitality Trust,&nbsp;Inc., a Maryland corporation, and, as the context may require, its consolidated
subsidiaries, including Ashford Hospitality Limited Partnership, a Delaware limited partnership.</P>

<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: justify">The purpose of this Supplement is to provide additional
information with respect to the status of this offering, the suspension of the redemption of the Preferred Stock and risks related thereto.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="text-transform: uppercase"><B>Status
of the Offering</B></FONT></P>

<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: justify">Our board of directors has approved the termination
of our primary offering effective immediately. Any pending subscription requests will be returned to subscribers. We plan to continue
to offer shares of the Preferred Stock pursuant to the dividend reinvestment plan beyond the termination of the primary offering.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>SUSPENSION OF REDEMPTIONS</B></P>

<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">Our board of directors has suspended the redemption of Preferred Stock.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>RISK FACTORS</B></P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>The following risk factor supersedes and replaces the corresponding
risk factor included in the prospectus.</I></P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>There is no public market for the Preferred Stock, and we do
not expect one to develop; because our board of directors has suspended redemptions of the Preferred Stock, you may be unable to dispose
of your shares, and even if redemptions resume, you may receive less than the Stated Value.</I></B></P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">There is no public trading market for the Preferred Stock offered in
this offering, and we do not intend to list these securities on the NYSE or any other securities exchange or to include these shares for
quotation on any national securities market. Therefore, the redemption of shares by us will likely be the only way for you to dispose
of your shares. Effective December&nbsp;9, 2025, our board of directors has suspended all redemptions of the Preferred Stock. As a result,
you should not expect to have any ability to have your shares redeemed by us for an indefinite period, if at all, and your ability to
dispose of your shares may be severely limited. If our board of directors determines in the future to resume redemptions, such redemptions,
if available, may be subject to a redemption fee depending on the period of time you have held your shares. As a result, if you are able
to sell your shares to us, you may receive less than the Stated Value of your shares. Additionally, our charter contains restrictions
on the ownership and transfer of our securities, and these restrictions may inhibit your ability to sell the Preferred Stock promptly
or at all. If you are able to sell the Preferred Stock, you may only be able to sell them at a substantial discount from the price you
paid. Therefore, you should purchase the Preferred Stock only as a long-term investment.</P>

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

<P STYLE="margin: 0"></P>

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