Ashford Hospitality Trust, a real estate investment trust focused on investing in luxury hotels, has recently finalized the sale of One Ocean Resort & Spa in Atlantic Beach, Florida. The sale of the property marks the end of an era for the company, which has owned and operated the resort since 2014.
The sale of One Ocean Resort & Spa is part of Ashford Hospitality Trust’s ongoing strategy to streamline its portfolio and focus on its core assets. The property, which features 193 guest rooms, a full-service spa, and several dining options, has been a popular destination for both leisure and business travelers.
The buyer of the property has not been disclosed, but it is reported that the sale price was in line with the property’s appraised value. The sale of One Ocean Resort & Spa is expected to generate significant proceeds for Ashford Hospitality Trust, which plans to use the funds to pay down debt and invest in other strategic opportunities.
In a statement, Ashford Hospitality Trust’s President and CEO, Rob Hays, expressed his gratitude to the employees of One Ocean Resort & Spa for their dedication and hard work over the years. He also thanked the guests who have made the resort a beloved destination.
Despite the sale of One Ocean Resort & Spa, Ashford Hospitality Trust remains committed to its mission of providing exceptional hospitality experiences. The company continues to own and operate a portfolio of upscale hotels across the United States, including properties in major cities such as New York, Chicago, and Los Angeles.
As the hospitality industry continues to navigate the challenges posed by the ongoing COVID-19 pandemic, Ashford Hospitality Trust remains optimistic about the future. The company is confident that the sale of One Ocean Resort & Spa will position it for long-term success and growth in the years to come.
In conclusion, the sale of One Ocean Resort & Spa represents a significant milestone for Ashford Hospitality Trust. While the company bids farewell to a beloved property, it looks forward to new opportunities and continued success in the luxury hotel market.
