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Contact : L ● ASHFORD HOSPITALITY TRUST ● Deric Eubanks Chief Financial Officer ( 972 ) 490-9600 Jordan Jennings Investor Relations ( 972 ) 778-9487 NEWS RELEASE Joe Calabrese Financial Relations Board ( 212 ) 827-3772 ASHFORD TRUST REPORTS THIRD QUARTER 2021 RESULTS Third Quarter Net Loss Attributable to Common Stockholders was $ 47.5 Million Third Quarter Comparable Hotel EBITDA was $ 62.0 Million DALLAS October 26 , 2021 Ashford Hospitality Trust , Inc. ( NYSE : AHT ) ( “ Ashford Trust " or the " Company " ) today reported financial results and performance measures for the third quarter ended September 30 , 2021. The comparable performance measurements for Occupancy , Average Daily Rate ( ADR ) , Revenue Per Available Room ( RevPAR ) , and Hotel EBITDA assume each of the hotel properties in the Company's hotel portfolio as of September 30 , 2021 was owned as of the beginning of each of the periods presented . Unless otherwise stated , all reported results compare the third quarter ended September 30 , 2021 with the third quarter ended September 30 , 2020 ( see discussion below ) . The reconciliation of non - GAAP financial measures is included in the financial tables accompanying this press release . Third Quarter Adjusted EBITDAre was $ 46.8 Million Third Quarter AFFO Per Diluted Share was $ 0.11 FINANCIAL AND OPERATING HIGHLIGHTS Comparable RevPAR for all hotels increased 166 % to $ 97.99 during the quarter on a 32.9 % increase in ADR and a 100.0 % increase in occupancy . Comparable RevPAR for all hotels decreased 25.6 % compared to the comparable period in 2019 . Net loss attributable to common stockholders was $ ( 47.5 ) million or $ ( 1.70 ) per diluted share for the quarter . Adjusted EBITDAre was $ 46.8 million for the quarter , which the highest result since the first quarter of 2020 and a 49 % increase compared to the second quarter of 2021 . Adjusted funds from operations ( AFFO ) was $ 0.11 per diluted share for the quarter . The Company ended the quarter with cash and cash equivalents of $ 673.0 million and restricted cash of $ 85.0 million . The vast majority of the restricted cash is comprised of lender and manager held reserves . At the end of the quarter , there was also $ 24.1 million in due from third party hotel managers , which is primarily the Company's cash held by one of its property managers and is also available to fund hotel operating costs . Net working capital at the end of the quarter was $ 707.3 million , which equates to approximately $ 21.40 per diluted share . During the quarter , the Company announced it successfully refinanced its mortgage loan for the 390 - room Hilton Boston Back Bay in Boston , Massachusetts which had a final maturity date in November 2022 . Capex invested during the quarter was $ 10.2 million .