Ashford Hospitality Trust Launches Strategic Initiative; Targets Incremental $50M Of EBITDA Improvement To Run-Rate Corporate EBITDA - Filing

Ashford is committed to achieving significant reductions in corporate overhead. Key actions include:

Substantially cutting management and board compensation while enhancing alignment with shareholders

◦Negotiating to reduce advisory fees and reimbursable expenses with advisor Ashford, Inc.

◦Reducing professional services and other general and administrative expenses

Reducing payroll expense through recently completed reductions in force and upcoming changes to PTO policies

◦Re-negotiating contracts and bidding out MSAs to achieve cost savings

◦Implementing LED lighting and other energy-saving initiatives across the portfolio

◦Optimizing overtime and contract labor usage to further reduce labor costs