Ashford Hospitality Trust, Inc. (AHT) saw its loss widen to $46.90 million, or $0.61 a share for the quarter ended Dec. 31, 2016. In the previous year period, the company reported a loss of $21.99 million, or $0.33 a share.     

Revenue during the quarter dropped 3.18 percent to $341.67 million from $352.88 million in the previous year period.

Cost of revenue went down marginally by 2.16 percent or $5.35 million during the quarter to $242.54 million. Gross margin for the quarter contracted 74 basis points over the previous year period to 29.01 percent.

Total expenses were $337.91 million for the quarter, up 4.57 percent or $14.76 million from year-ago period. Operating margin for the quarter contracted 732 basis points over the previous year period to 1.10 percent.

Operating income for the quarter was $3.76 million, compared with $29.73 million in the previous year period. However, the adjusted EBITDA for the quarter stood at $84.08 million compared with $93.72 million in the prior year period. At the same time, adjusted EBITDA margin contracted 195 basis points in the quarter to 24.61 percent from 26.56 percent in the last year period.

Occupancy revenue was $262.80 million for the quarter, down 3.23 percent or $8.78 million. Food and beverage revenue was $64.74 million during the quarter, down 4.18 percent or $2.83 million from year-ago period. Revenue from other hotel operating activities was $13.68 million for the quarter, up 2.87 percent or $0.38 million from year-ago period.

"We are hopeful that the FelCor Board of Directors will engage with us pertaining to a combination that we believe will result in significant value creation for both of our shareholders," commented Douglas A. Kessler, Ashford Trust’s chief executive officer. "As it relates to our quarterly performance, we are pleased with the fourth quarter, which highlights the quality of our portfolio, our diverse market exposure and our exceptional asset management capabilities. Looking ahead, we are well positioned to capitalize on improving business sentiment and positive economic trends and remain committed to maximizing value for our shareholders."

Real estate inventory fell 5.82 percent or $0.28 million to $4.53 million on Dec. 31, 2016. Net receivables were at $57.98 million as on Dec. 31, 2016, down 14.21 percent or $9.60 million from year-ago.

Investments stood at $56.80 million as on Dec. 31, 2016, up 1,553.54 percent or $53.36 million from year-ago.

Total assets went down marginally by 1.48 percent or $73.59 million to $4,891.54 million on Dec. 31, 2016. On the other hand, total liabilities were at $3,966.40 million as on Dec. 31, 2016, down 1.70 percent or $68.43 million from year-ago.

Return on assets was negative at 0.14 percent in the quarter against a positive 0.44 percent in the last year period. Return on equity for the quarter stood at negative 7.23 percent as compared to a negative 3.75 percent for the previous year period.