Attached files
| file | filename |
|---|---|
| EX-99.1 - EXHIBIT - Braemar Hotels & Resorts Inc. | ahpstockbuybackandassetsal.htm |
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (date of earliest event reported): October 27, 2014
ASHFORD HOSPITALITY PRIME, INC.
(Exact name of registrant as specified in its charter)
MARYLAND | 001-35972 | 46-2488594 | ||
(State of Incorporation) | (Commission File Number) | (I.R.S. Employer Identification Number) | ||
14185 Dallas Parkway, Suite 1100 | ||
Dallas, Texas | 75254 | |
(Address of principal executive offices) | (Zip code) | |
Registrant’s telephone number, including area code: (972) 490-9600
Check the appropriate box if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨ Soliciting material pursuant to Rule 14-a-12 under the Exchange Act (17 CFR 240.14a-12)
¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
ITEM 7.01 REGULATION FD DISCLOSURE
On October 27, 2014, Ashford Hospitality Prime, Inc. (the “Company”) announced that its Board of Directors has approved a share repurchase program for the Company to purchase up to $100 million of the Company’s common stock. The repurchase program is anticipated to commence two business days after the Company reports its third quarter 2014 earnings, which is scheduled for Thursday, October 30, 2014.
The Company also announced that it will look to sell the Courtyard Downtown Philadelphia and potentially other hotels in the Ashford Prime portfolio with the intention to use the net proceeds to fund the share repurchase program.
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS
Exhibit Number Description
(d) Exhibits
99.1 | Press release of the Company announcing the share repurchase program and asset sale strategy, dated October 27, 2014. |
SIGNATURE
Pursuant to the requirements of Section 12 of the Securities and Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Dated: October 27, 2014
ASHFORD HOSPITALITY PRIME, INC.
By: /s/ DAVID A. BROOKS
David A. Brooks
Chief Operating Officer and General Counsel