Ashford Hospitality Trust (AHT) saw its loss widen to $20.14 million, or $0.37 a share for the quarter ended Sep. 30, 2016. In the previous year period, the company reported a loss of $16.32 million, or $0.26 a share.    

Revenue during the quarter went up marginally by 2.03 percent to $371.93 million from $364.52 million in the previous year period.

Cost of revenue went up marginally by 0.60 percent or $1.55 million during the quarter to $260.30 million. Gross margin for the quarter expanded 100 basis points over the previous year period to 30.01 percent.

Total expenses were $330.86 million for the quarter, up 2.23 percent or $7.22 million from year-ago period. Operating margin for the quarter contracted 17 basis points over the previous year period to 11.04 percent.

Operating income for the quarter was $41.07 million, compared with $40.88 million in the previous year period.      

Occupancy revenue was $300.88 million for the quarter, up 2.07 percent or $6.11 million. Food and beverage revenue was $56.21 million during the quarter, up 1.80 percent or $1 million from year-ago period. Revenue from other hotel operating activities was $14.39 million for the quarter, up 2.07 percent or $0.29 million from year-ago period.

"We are pleased with our portfolio performance this quarter which speaks to the quality and diversity of our portfolio as well as our superior asset management capabilities," commented Monty J. Bennett, Ashford Trust’s chairman and chief executive officer. "Additionally, during the quarter and subsequent to quarter end, we made solid progress on the sale of our non-core, select-service hotels as well as completing the refinancing of four mortgage loans last month which addressed the vast majority of our 2017 debt maturities. We are committed to maximizing value for our shareholders by focusing on upper-upscale, full-service hotels, generating superior operating performance and pursuing opportunities to sell additional select-service assets."

Real estate inventory stood at $4.78 million as on Sep. 30, 2016. Net receivables were at $123.89 million as on Sep. 30, 2016, up 30.85 percent or $29.21 million from year-ago.

Investments stood at $60.53 million as on Sep. 30, 2016, up 986.25 percent or $54.95 million from year-ago.

Total assets went down marginally by 0.90 percent or $43.86 million to $4,839.74 million on Sep. 30, 2016. On the other hand, total liabilities were at $3,975.90 million as on Sep. 30, 2016, up 1.80 percent or $70.37 million from year-ago.

Return on assets moved down 3 basis points to 0.52 percent in the quarter. Return on equity for the quarter stood at negative 4.72 percent as compared to a negative 2.87 percent for the previous year period.