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Ashford Trust Announces Acquisition of the Le Pavillon Hotel in New Orleans, Louisiana

2015-06-12 02:49:09| Jewelry - Topix.net

Purchase price equates to an estimated forward 12-month cap rate of 7.8% and an estimated forward 12-month EBITDA multiple of 11.4x Ashford Hospitality Trust, Inc. announced today that it has completed the acquisition of the 226-room Le Pavillon Hotel for total consideration of market, the hotel features approximately 7,800 square feet of meeting space across nine rooms. At closing, Remington Lodging assumed property management.

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