DALLAS -- Ashford Hospitality Prime, Inc., (NYSE: AHP) ("Ashford Prime" or the "Company") today filed an investor presentation with the Securities and Exchange Commission in connection with the Company's 2016 Annual Meeting of Stockholders, which highlights Ashford's deep industry expertise, long-term track record of delivering stockholder value, and highly-qualified board of directors; clarifies what the Company believes are the "activist" Sessa's misleading and inaccurate claims; discusses Sessa's failure to propose a plan that maximizes value for stockholders while instead focusing on subjecting stockholders to costly litigation; and articulates why now is not the time to hand over the keys to an inexperienced shareholder and a slate hand-picked by Sessa with no relevant lodging experience. The presentation is also available on the Company's website at www.ahpreit.com both on the front page and under the Investors tab in the Presentations section. Highlights of the investor presentation include:
- Long-Term Track Record of Value Creation: The management team has generated significant long-term outperformance with a total shareholder return of 107.0% compared to the peer average of 86.2%, since the initial public offering of Ashford Hospitality Trust in 2003. Ashford Prime exceeded its defined peers in total shareholder return in 2015, outperforming the peer average by approximately 1,600 basis points.
- Deep Experience of Management Team: Ashford Prime's highly aligned management team, with the highest insider ownership amongst peers, has an extensive and successful track record of creating value for shareholders through hospitality investments. With an aggregate of nearly 140 years of relevant industry experience, Ashford Prime's management team has successfully led hospitality companies through multiple lodging cycles, including creating significant value during times of market distress.
- Strong Operating Performance: The management team delivered RevPAR growth of 7.3% in 2015, significantly outperforming the peer average of 4.2%. Since the spin-off from Ashford Hospitality Trust in 2013, Ashford Prime has increased its common dividend by 100%.
- Accretive Growth: The Company has acquired high-quality properties in strong markets including the Ritz-Carlton St. Thomas, Bardessono Hotel & Spa, Sofitel Chicago, and Pier House Resort. Ashford Prime has increased its portfolio RevPAR by over 40% and its asset base by 50% as of December 31, 2015 since the spin-off from Ashford Hospitality Trust in 2013.
- Experienced and Highly Qualified Board: Ashford Prime has a diverse board with demonstrated leadership skills, strong and diverse experience, and a sound understanding of the real estate and hospitality industry with an aggregate of 44 years of public board experience.
Since the inception of Ashford Prime, the Company's Board and management team have been committed to maximizing long-term value for its stockholders. The Company believes that it is in the best-interest of all stockholders for the Board to complete its thorough review of strategic alternatives to determine the best route to maximize value for stockholders.
Ashford Prime is a real estate investment trust (REIT) focused on investing in luxury hotels located in resort and gateway markets.
Ashford Prime has retained Cadwalader Wickersham & Taft LLP as legal counsel. Moelis &
Company LLC is acting as financial advisor to Ashford Prime in connection with Sessa's proxy contest and Deutsche Bank Securities Inc. is acting as independent financial advisor in connection with the Company's strategic review process.
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