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Houston NASA Clear Lake Hotel – Image Credit Hilton
- Ashford Hospitality Trust plans to sell the 242-room Hilton Houston NASA Clear Lake for $27 million.
- The scheduled completion of the sale is set for June 2025, subject to standard closing conditions.
Ashford Hospitality Trust Inc. has signed an agreement to sell the Hilton Houston NASA Clear Lake. The transaction, priced at $27 million, will be finalized by June 2025, contingent upon typical closing conditions.
When adjusted for the Trust’s projected capital expenditures, the sale price indicates a 3.2% capitalization rate on net operating income or a 23.6x Hotel EBITDA for the twelve months concluded on April 30, 2025. When the anticipated capital spend is excluded, the sale price reflects a 5.0% capitalization rate on net operating income or 15.2x Hotel EBITDA for the same period.
The agreement to sell the Hilton Houston NASA Clear Lake is expected to reduce the Trust’s Morgan Stanley 17 Pool loan and lead to substantial savings in capital expenditures.
The sale is part of a broader strategy to transform the Trust through the potential for opportunistic sales. Additional assets are currently on the market at various stages of the sales process. These sales are intended to shift the asset portfolio of the Trust further and influence its future trajectory.
The Trust has not guaranteed that the sale will be completed on the agreed terms or finalized. The completion of the transaction depends on several factors, including but not limited to the fulfillment of standard closing conditions.
