Ashford takes control of Highland's upscale hotel chain

03/11/2011 | Wall Street Journal, The · Bloomberg Businessweek

In a restructuring of Highland Hospitality completed Thursday, Ashford Hospitality Trust acquired 72% of the company's equity, and Prudential Financial acquired the remainder. Dallas-based Ashford will add Highland's 28 upscale hotels to its portfolio, giving it 126 U.S. hotel properties. "We believe there is a substantial opportunity to improve the hotels' performance with an aggressive asset-management strategy similar to what we have accomplished with our existing hotels," said Ashford CEO Monty Bennett.

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Wall Street Journal, The · Bloomberg Businessweek

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