Ashford Hospitality Explores Its Options, Including Possible Sale Of The Company

By Ciara LinnaneMarketWatch Pulse

Ashford Hospitality Prime Inc. shares rose 2% in premarket trade, after the company said it is exploring its strategic options, including a possible sale of the company. The real estate investment trust said it has hired Deutsche Bank to act as financial adviser. "We do not believe Ashford Prime's current share price accurately reflects the company's intrinsic value," Chief Executive Monty Bennett said in a statement. Ashford focuses on investing in luxury hotels located in resorts. Shares have fallen about 29% in the year so far, while the S&P 500 is down 3.6%.

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