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Ashford Hospitality Trust and Remington Announce Property-Level Workforce Adjustments and Expense Reductions
Contract Type
partnership
DallasReal EstateHospitalityHotelDescription
Ashford Hospitality Trust, Inc. announced a partnership with its largest property manager, Remington, to fully implement property-level headcount reductions, reduce travel expenses, change the PTO policy for field associates, and reduce contracted services and centralized expenses allocated to the Company's properties. These strategic moves reflect Remington's commitment to helping Ashford Trust execute on 'GRO AHT,' the Company's transformative initiative, aimed at driving $50 million in annual run-rate EBITDA improvement and significantly increasing shareholder value.