Exhibit 99.1

ASHFORD PRIME REPORTS FOURTH QUARTER AND

YEAR END 2014 RESULTS

Reports Fourth Quarter RevPAR Increase of 11.0% for All Hotels

Hotel EBITDA Margin Increase of 195 basis points for All Hotels

Company has repurchased 1.8 million shares & units

DALLAS, February 26, 2015 — Ashford Hospitality Prime, Inc. (NYSE: AHP) (“Ashford Prime” or the “Company”) today reported the following results and performance measures for the fourth quarter ended December 31, 2014.  On November 19, 2013, the Company completed its spin-off from Ashford Hospitality Trust, Inc. (NYSE: AHT) (“Ashford Trust”), but the Company has presented its prior year financial statements in accordance with GAAP, which requires that historical carve-out financial statements be presented.  Accordingly, the Company’s results for the prior year period may not be representative of results in future periods.  In particular, the general & administrative expenses that are shown in the prior year historical carve-out financial statements do not reflect the expected general & administrative costs of the Company, but rather reflect an allocation of the actual general & administrative costs of Ashford Trust.  The Company has general & administrative costs that it incurs as well as reimbursable costs that Ashford Inc. incurs on its behalf.  The Company also pays a base management fee to Ashford Inc. equal to 0.70% times its total market capitalization.  The performance measurements for Occupancy, Average Daily Rate (ADR), Revenue Per Available Room (RevPAR), and Hotel Operating Profit (or Hotel EBITDA) are pro forma.  Unless otherwise stated, all reported results compare the fourth quarter ended December 31, 2014, with the fourth quarter ended December 31, 2013 (see discussion below).  The reconciliation of non-GAAP financial measures is included in the financial tables accompanying this press release.

FINANCIAL AND OPERATING HIGHLIGHTS

·                  RevPAR for all Ashford Prime hotels increased 11.0% to $161.30 during the fourth quarter, driven by a 3.8% increase in ADR and a 7.0% increase in occupancy

·                  Hotel EBITDA increased $3.5 million or 16.7% for all Ashford Prime hotels

·                  Hotel EBITDA flow-through was 52% for all hotels

·                  Net loss attributable to common stockholders for the Company was $2.1 million, or $0.08 per diluted share, compared with net loss attributable to common stockholders of $11.4 million, or $0.71 per diluted share, in the prior-year quarter

·                  Adjusted funds from operations (AFFO) for the Company was $0.21 per diluted share for the quarter compared to $0.09 from the prior-year quarter

·                  At the end of the fourth quarter 2014, the Company had total net working capital of $185.7 million

·                  On November 10, 2014, the Company announced it had successfully refinanced its Aareal Capital mortgage loan with an existing outstanding balance of $196 million with a new $198 million non-recourse mortgage loan from the same lender

·                  The Company has repurchased 1.8 million shares of common stock and common units under its share repurchase program in the period from November 4, 2014 up to and including February 20, 2015

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·                  The Company does not expect to exercise its option to purchase the Marriott Gateway Hotel in Arlington, VA from Ashford Trust.

CAPITAL EXPENDITURES

·                  Capex invested in the quarter for the Ashford Prime Portfolio was $3.3 million

·                  For the full-year 2014, capex invested in the Ashford Prime Portfolio was $21.0 million

CAPITAL STRUCTURE

At December 31, 2014, the Company had total assets of $1.2 billion in continuing operations.  As of December 31, 2014, the Company had $765 million of mortgage debt in continuing operations of which $49.4 million related to our joint venture partner’s share of debt on the Capital Hilton and Hilton La Jolla Torrey Pines.  Ashford Prime’s total combined debt had a blended average interest rate of 4.99%.

On November 10, 2014, the Company announced it had successfully refinanced its Aareal Capital mortgage loan with an existing outstanding balance of $196 million and a final maturity date in February 2018.  The loan has been refinanced with a new $198 million non-recourse mortgage loan from the same lender with a five-year initial term and two one-year extension options, subject to the satisfaction of certain conditions.  The new loan provides for a floating interest rate of LIBOR + 2.65%.  The mortgage loan remains secured by the same two hotels: the Capital Hilton in Washington, DC and Hilton La Jolla Torrey Pines in La Jolla, CA.  Ashford Prime has a 75% ownership interest in the properties, with Hilton holding the remaining 25%.

PORTFOLIO REVPAR

As of December 31, 2014, the Ashford Prime Portfolio consisted of direct hotel investments with ten properties classified in continuing operations.  During the fourth quarter of 2014, eight of the Ashford Prime Portfolio hotels included in continuing operations were not under renovation.

·                  Pro forma RevPAR increased 11.0% to $161.30 for all hotels in the Ashford Prime Portfolio on a 3.8% increase in ADR and a 7.0% increase in occupancy

·                  Pro forma RevPAR increased 11.0% to $168.47 for all hotels in the Ashford Prime Portfolio not under renovation on a 3.0% increase in ADR and a 7.8% increase in occupancy

HOTEL EBITDA MARGINS AND QUARTERLY SEASONALITY TRENDS

The Company believes year-over-year Hotel EBITDA and Hotel EBITDA Margin comparisons are more meaningful to gauge the performance of the Company’s hotels than sequential quarter-over-quarter comparisons.  Given the substantial seasonality in the Company’s portfolio, to help investors better understand this seasonality, the Company provides quarterly detail on its Hotel EBITDA and Hotel EBITDA Margin for the current and certain prior-year periods based upon the number of hotels in the Ashford Prime Portfolio as of the end of the current period.  As the Company’s portfolio mix changes from time to time so will the seasonality for Pro forma Hotel EBITDA and Pro forma Hotel EBITDA margin.  The details of the quarterly calculations for the previous four quarters for the 10 Ashford Prime Portfolio hotels included in continuing operations are provided in the table attached to this release.

COMMON STOCK DIVIDEND

On December 15, 2014, the Company announced that its Board of Directors had declared a quarterly cash dividend of $0.05 per diluted share for the Company’s common stock for the fourth quarter ending December 31, 2014, payable on January 15, 2015, to shareholders of record as of December 31, 2014.

The Board also approved the Company’s dividend policy for 2015.  The Company expects to pay a quarterly cash dividend of $0.05 per share for 2015, or $0.20 per share on an annualized basis.  The Company believes a conservative approach is appropriate given the Company’s recent stock buyback announcement, and the Board

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will continue to review its dividend policy on a quarter-to-quarter basis.  The adoption of a dividend policy does not commit the Board of Directors to declare future dividends or the amount thereof.

SHARE REPURCHASE PROGRAM

Ashford Prime today provided an update regarding its share repurchase program announced on October 27, 2014.  The Company reported it has repurchased 1.8 million of shares of common stock and common units in the period from November 4, 2014 up to and including February 20, 2015, for total consideration of $30.4 million.  As of February 20, 2015, the Company’s fully diluted share count was approximately 32.8 million shares.

“Ashford Prime has executed on its investment strategy both in the fourth quarter and throughout 2014 by growing the Ashford Prime portfolio while delivering solid RevPAR performance.  Our results highlight the high quality of our assets, all of which are among the finest properties in their respective markets,” commented Monty J. Bennett, Ashford Prime’s Chairman and Chief Executive Officer.  “We continue to be pleased with our operating performance which demonstrates the strength of our portfolio and our investment strategy.”

INVESTOR CONFERENCE CALL AND SIMULCAST

Ashford Hospitality Prime, Inc. will conduct a conference call on Friday, February 27, 2015, at 11:00 a.m. ET.  The number to call for this interactive teleconference is (785) 830-7991.  A replay of the conference call will be available through Friday, March 6, 2015, by dialing (719) 457-0820 and entering the confirmation number, 6219218.

The Company will also provide an online simulcast and rebroadcast of its fourth quarter 2014 earnings release conference call.  The live broadcast of Ashford Hospitality Prime’s quarterly conference call will be available online at the Company’s web site, www.ahpreit.com on Friday, February 27, 2015, beginning at 11:00 a.m. ET.  The online replay will follow shortly after the call and continue for approximately one year.

Substantially all of our non-current assets consist of real estate investments secured by real estate.  Historical cost accounting for real estate assets implicitly assumes that the value of real estate assets diminishes predictably over time.  Since real estate values instead have historically risen or fallen with market conditions, most industry investors consider supplemental measures of performance, which are not measures of operating performance under GAAP, to assist in evaluating a real estate company’s operations. These supplemental measures include FFO, AFFO, EBITDA, and Hotel Operating Profit.  FFO is computed in accordance with our interpretation of standards established by NAREIT, which may not be comparable to FFO reported by other REITs that do not define the term in accordance with the current NAREIT definition or that interpret the NAREIT definition differently than us.  Neither FFO, AFFO, EBITDA, nor Hotel Operating Profit represents cash generated from operating activities as determined by GAAP and should not be considered as an alternative to a) GAAP net income (loss) as an indication of our financial performance or b) GAAP cash flows from operating activities as a measure of our liquidity, nor are such measures indicative of funds available to satisfy our cash needs, including our ability to make cash distributions.  However, management believes FFO, AFFO, EBITDA, and Hotel Operating Profit to be meaningful measures of a REIT’s performance and should be considered along with, but not as an alternative to, net income and cash flow as a measure of our operating performance.

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Ashford Hospitality Prime is a conservatively capitalized real estate investment trust (REIT) focused on investing in high RevPAR full-service and urban select-service hotels and resorts located predominantly in domestic and international gateway markets.

Follow Chairman and CEO Monty Bennett on Twitter at www.twitter.com/MBennettAshford or @MBennettAshford.

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Ashford has created an Ashford App for the hospitality REIT investor community.  The Ashford App is available for free download at Apple’s App Store and the Google Play Store by searching “Ashford.”

Certain statements and assumptions in this press release contain or are based upon “forward-looking” information and are being made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.  These forward-looking statements are subject to risks and uncertainties.  When we use the words “will likely result,” “may,” “anticipate,” “estimate,” “should,” “expect,” “believe,” “intend,” or similar expressions, we intend to identify forward-looking statements.  Such statements are subject to numerous assumptions and uncertainties, many of which are outside Ashford Prime’s control.

These forward-looking statements are subject to known and unknown risks and uncertainties, which could cause actual results to differ materially from those anticipated, including, without limitation:  general volatility of the capital markets and the market price of our common stock; changes in our business or investment strategy; availability, terms and deployment of capital; availability of qualified personnel; changes in our industry and the market in which we operate, interest rates or the general economy; and the degree and nature of our competition.  These and other risk factors are more fully discussed in Ashford Prime’s filings with the Securities and Exchange Commission.  EBITDA is defined as net income before interest, taxes, depreciation and amortization.  EBITDA yield is defined as trailing twelve month EBITDA divided by the purchase price.  A capitalization rate is determined by dividing the property’s annual net operating income by the purchase price.  Net operating income is the property’s funds from operations minus a capital expense reserve of either 4% or 5% of gross revenues.  Hotel EBITDA flow-through is the change in Hotel EBITDA divided by the change in total revenues.  Hotel EBITDA Margin is Hotel EBITDA divided by total revenues.  Funds from operations (“FFO”), as defined by the White Paper on FFO approved by the Board of Governors of the National Association of Real Estate Investment Trusts (“NAREIT”) in April 2002, represents net income (loss) computed in accordance with generally accepted accounting principles (“GAAP”), excluding gains (or losses) from sales of properties and extraordinary items as defined by GAAP, plus depreciation and amortization of real estate assets, and net of adjustments for the portion of these items related to unconsolidated entities and joint ventures.

The forward-looking statements included in this press release are only made as of the date of this press release.  Investors should not place undue reliance on these forward-looking statements.  We are not obligated to publicly update or revise any forward-looking statements, whether as a result of new information, future events or circumstances, changes in expectations or otherwise.

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ASHFORD HOSPITALITY PRIME, INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

(in thousands, except share amounts)

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ASHFORD HOSPITALITY PRIME, INC. AND SUBSIDIARIES

CONSOLIDATED AND COMBINED CONSOLIDATED STATEMENTS OF OPERATIONS

(in thousands, except per share amounts)

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 ASHFORD HOSPITALITY PRIME, INC. AND SUBSIDIARIES

 RECONCILIATION OF NET INCOME (LOSS) TO EBITDA AND ADJUSTED EBITDA

 (in thousands)

 (unaudited)

 RECONCILIATION OF NET INCOME (LOSS) TO FUNDS FROM OPERATIONS (“FFO”) AND ADJUSTED FFO

 (in thousands, except per share amounts)

 (unaudited)

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ASHFORD HOSPITALITY PRIME, INC. AND SUBSIDIARIES

SUMMARY OF INDEBTEDNESS

December 31, 2014

(dollars in thousands)

(unaudited)

All indebtedness is non-recourse with the exception of the senior credit facility.

(1) This credit facility has two one-year extension options subject to advance notice, certain conditions and a 0.25% extension fee beginning November 2016.

(2) This mortgage loan has three one-year extension options beginning September 2015, subject to satisfaction of certain conditions.

(3) This mortgage loan has three one-year extension options beginning March 2016, subject to satisfaction of certain conditions.

(4) On November 7, 2014, we refinanced our $197.8 million mortgage loan, with and outstanding balance of $195.7 million, due February 2018 with a $198.0 million loan due November 2019 with two one-year extension options.  The new loan provides for a floating interest rate of LIBOR + 2.65%.

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 ASHFORD HOSPITALITY PRIME, INC. AND SUBSIDIARIES

 INDEBTEDNESS BY MATURITY ASSUMING EXTENSION OPTIONS ARE EXERCISED

 December 31, 2014

 (in thousands)

 (unaudited)

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ASHFORD HOSPITALITY PRIME, INC. AND SUBSIDIARIES

KEY PERFORMANCE INDICATORS - PRO FORMA

(unaudited)

NOTES:

(1) The above pro forma table assumes the ten hotel properties owned and included in the Company’s operations at December 31, 2014 were owned as of the beginning of each of the periods presented.

(2) On January 1, 2013, Marriott converted from a fiscal year with 12 weeks of operations in each of the first three quarters of the year and 16 weeks in the fourth quarter of the year, to calendar quarters.  The above pro forma table reflects an extra 3 days in Marriott-managed properties for the year ended December 31, 2013.

NOTES:

(1) The above pro forma table assumes the eight hotel properties included in the Company’s operations at December 31, 2014, but not under renovation for the three months ended December 31, 2014 were owned as of the beginning of each of the periods presented.

(2) Excluded Hotels Under Renovation:

Courtyard Seattle, Renaissance Tampa

(3) On January 1, 2013, Marriott converted from a fiscal year with 12 weeks of operations in each of the first three quarters of the year and 16 weeks in the fourth quarter of the year, to calendar quarters.  The above proforma tables reflects an extra 3 days in Marriott-managed properties for the year ended December 31, 2013.

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ASHFORD HOSPITALITY PRIME, INC. AND SUBSIDIARIES

PRO FORMA HOTEL OPERATING PROFIT MARGIN

(unaudited)

THE FOLLOWING PRO FORMA EBITDA MARGIN TABLE REFLECTS THE TEN HOTELS INCLUDED IN THE COMPANY’S OPERATIONS AS IF THESE HOTELS WERE OWNED AT THE BEGINNING OF THE FIRST COMPARATIVE REPORTING PERIOD.

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ASHFORD HOSPITALITY PRIME, INC. AND SUBSIDIARIES

Selected Pro Forma Financial and Operating Information by Property

(in thousands, except operating information)

(unaudited)

The following tables present selected financial and operating information by property for the ten properties included in Ashford Hospitality Prime, Inc.