ASHFORD HOSPITALITY TRUST INC 8-K

What Happened

• Ashford Hospitality Trust, Inc. (AHT) announced in an 8-K that its advisor (Ashford Inc. and Ashford Hospitality Advisors LLC) delivered a notice on December 23, 2025 exercising the right to extend the Third Amended and Restated Advisory Agreement (originally dated March 12, 2024). The extension adds a 10-year term beginning January 14, 2031 and expiring January 14, 2041. All existing terms and obligations under the Advisory Agreement remain in effect during the extended term.

Key Details

• Advisor delivered Extension Notice: December 23, 2025.
• Extended term: January 14, 2031 through January 14, 2041 (10 years).
• Advisory Agreement effective date (third amended): March 12, 2024.
• Section 6.5 of the Agreement permits the parties to renegotiate the Base Fee or Incentive Fee during the extended term.

Why It Matters

• The extension confirms a long-term management relationship between AHT and its advisor, which affects how the company will be managed and advised through 2041. For investors, the possible renegotiation of base or incentive fees is the primary actionable item from the filing—any material fee changes could affect AHT’s operating expenses and, indirectly, cash available for distributions. The Extension Notice is filed as an exhibit to the 8-K for reference.