Ashford Hospitality increases revolver to $300 million

By Angela McDaniels

Seattle, May 24 - Ashford Hospitality Trust, Inc. amended its revolving credit facility on May 22, increasing the size to $300 million from $200 million, according to an 8-K report filed with the Securities and Exchange Commission.

The increase follows a $25 million payment made by the company on the facility on May 3 and draws of $50 million and $25 million on April 11 and April 16, respectively.

Wachovia Bank, NA is administration agent for the deal.

Ashford, a Dallas-based real estate investment trust focused on the hospitality industry, borrowed the revolver through its subsidiary Ashford Hospitality LP.

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