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Ashford Prime Explores Its Alternatives

By Tony Seruga

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Bennett: “While we are confident in our strategic plan, we have concluded that we should consider all other opportunities to maximize shareholder value.”

DALLAS—Ashford Hospitality Prime Inc. said Friday that the independent directors of its board have begun exploring strategic alternatives, including a possible sale. The independent directors have retained Deutsche Bank Securities Inc. as their financial advisor to assist in this process.

“We do not believe Ashford Prime’s current share price accurately reflects the company’s intrinsic value,” saysMonty J. Bennett, the REIT’s chairman and CEO. “While we are confident in our strategic plan, we have concluded that we should consider all other opportunities to maximize shareholder value.” Shares were up 13% late Friday morning following Ashford Prime’s announcement…

Ashford Prime Explores Its Alternatives

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