08:38 AM EDT, 05/23/2025 (MT Newswires) -- Ashford Hospitality Trust ( AHT/PD ) said Friday it has entered into an agreement to sell the 242-room Hilton Houston NASA Clear Lake for $27 million, with the transaction expected to close in June.

The company said the sale price reflects a 3.2% cap rate or 23.6x Hotel EBITDA when adjusted for anticipated capital expenditures, and 5.0% or 15.2x unadjusted, for the 12 months ended April 30, 2025.

Proceeds from the sale will be used to reduce debt tied to its Morgan Stanley 17 Pool loan and lower planned capital expenses, Ashford said.

The company said the transaction is subject to standard closing conditions and may not be completed on current terms or at all.

Shares of the trust were up over 1.7% in recent Friday premarket activity.