Exhibit 99.1

ASHFORD TRUST REPORTS FIRST QUARTER 2015 RESULTS

8.5% RevPAR Increase for All Hotels for the First Quarter

Hotel EBITDA Margin Increase of 163 basis points for All Hotels

Adjusted EBITDA Increased 12.3%

Adjusted Funds From Operations per Share Increased 20%

Completes Buyout of Remaining JV Interest in Highland Portfolio

DALLAS, May 7, 2015 —Ashford Hospitality Trust, Inc. (NYSE: AHT) (“the Company” or “Ashford Trust”) today reported financial results and performance measures for the first quarter ended March 31, 2015.  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 first quarter ended March 31, 2015, with the first quarter ended March 31, 2014 (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 Trust hotels increased 8.5% during the quarter

·                  RevPAR for all Ashford Trust hotels not under renovation increased 9.9% during the quarter

·                  Hotel EBITDA increased 12.7% for all hotels

·                  Hotel EBITDA Margin increased 163 basis points for all hotels

·                  Hotel EBITDA flow-through was 55% for all hotels

·                  Adjusted EBITDA increased $9.8 million or 12.3%

·                  Net income attributable to common stockholders for the Company was $313.0 million, or $3.12 per diluted share, compared with net loss attributable to common stockholders of $10.9 million, or $0.13 per diluted share, in the prior-year quarter

·                  Adjusted funds from operations (AFFO) for the Company was $0.30 per diluted share for the quarter as compared with $0.25 from the prior-year quarter representing an increase of 20%

·                  On January 5, 2015, the Company announced it had refinanced two mortgage loans with an outstanding balance of approximately $354 million with new loans totaling $478 million resulting in over $100 million of excess proceeds after closing costs and reserves

·                  On January 30, 2015, the Company announced it had priced a follow-on public offering of 9,500,000 shares of common stock at $10.65 per share.  The underwriter subsequently exercised its option in part and purchased an additional 1,029,450 shares from the Company.  In total, the Company issued 10,529,450 shares of common stock at $10.65 per share for net proceeds of $111.1 million.

·                  On February 9, 2015, the Company announced it had closed on the acquisition of the 168-room Lakeway Resort & Spa in Austin, TX for total consideration of $33.5 million ($199,000 per key)

·                  Subsequent to quarter end, on April 17, 2015, the Company closed a $25.1 million mortgage loan for the property

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·                  On February 26, 2015, the Company announced it had closed on the acquisition of the 232-room Marriott Memphis East hotel for total consideration of $43.5 million ($187,500 per key)

·                  The Company closed a $33.3 million mortgage loan for the property on March 25, 2015

·                  On March 9, 2015, the Company announced it had completed the acquisition of the remaining 28.26% ownership interest in the Highland Hospitality Portfolio from its joint venture partner, a value add fund managed by Prudential Real Estate Investors

·                  In connection with the transaction, the Company refinanced 24 of the 28 hotels in the Highland Portfolio with a new $1.07 billion non-recourse mortgage loan

·                  On March 11, 2015, the Company completed the sale of the 112-room Hampton Inn Terre Haute in Terre Haute, IN for $7.9 million ($70,500 per key)

·                  Subsequent to the end of the quarter, on April 29, 2015, the Company closed on the acquisition of the 124-room Hampton Inn & Suites in Gainesville, FL for total consideration of $25.3 million ($204,000 per key)

CAPITAL EXPENDITURES

·                  Capex invested in the quarter was $35.3 million

CAPITAL STRUCTURE

At March 31, 2015, the Company had total assets of $4.8 billion in continuing operations including the Highland Hospitality Portfolio which is now consolidated.  As of March 31, 2015, the Company had $3.4 billion of mortgage debt in continuing operations.  Ashford Trust’s total combined debt had a blended average interest rate of 4.99%.

On January 5, 2015, the Company announced it had refinanced two mortgage loans with an existing outstanding balance of approximately $354 million.  The two previous mortgage loans that were refinanced include: a $211 million Goldman Sachs Floater loan with a final maturity date in November 2017; and a $143 million Merrill Lynch 1 loan with a final maturity date in July 2015.  The new loans total $478 million and resulted in excess net proceeds of over $100 million after closing costs and reserves.

On January 30, 2015, the Company announced it had priced a follow-on public offering of 9,500,000 shares of common stock at $10.65 per share.  Settlement of the offering occurred on February 4, 2015, generating total net proceeds of $100.2 million.  The underwriter subsequently exercised its option in part and purchased an additional 1,029,450 shares from the Company.  In total, the Company issued 10,529,450 shares of common stock at $10.65 per share for net proceeds of $111.1 million.

On February 9, 2015, the Company announced it had closed on the acquisition of the 168-room Lakeway Resort & Spa for total consideration of $33.5 million ($199,000 per key), which represents an estimated forward 12-month cap rate of 8.7% on net operating income and an estimated 9.5x forward EBITDA multiple.  Subsequent to the acquisition’s completion, on April 17, 2015, the Company closed a $25.1 million mortgage loan on the property.  The new loan is interest only and provides for a floating interest rate of LIBOR + 5.10%.

On February 26, 2015, the Company announced it had closed on the acquisition of the 232-room Marriott Memphis East hotel for total consideration of $43.5 million ($187,500 per key), which represents an estimated forward 12-month cap rate of 8.6% on net operating income and an estimated 10.3x forward EBITDA multiple.  Subsequent to the acquisition’s completion, on March 25, 2015, the Company closed a $33.3 million mortgage loan on the property.  The new loan is interest only and provides for a floating interest rate of LIBOR + 4.95%.

On March 9, 2015, the Company announced it had completed the acquisition of the remaining 28.26% ownership interest in the Highland Hospitality Portfolio from its joint venture partner, a value add fund managed by Prudential Real Estate

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Investors, for a purchase price of $250.1 million (total transaction value of $1.735 billion or $215,000 per key) which was paid in cash and funded by the concurrent refinancing of 24 hotels in the portfolio as well as proceeds from the Company’s recent equity offering.  The 28-hotel Highland Hospitality Portfolio includes 19 full-service hotels and 9 select-service hotels with a concentration in major brands such as Hilton, Marriott, Hyatt and Starwood.  The new $1.07 billion non-recourse mortgage loan on the 24 hotels in the portfolio is interest only and provides for a floating interest rate of LIBOR + 4.39%.  The financing resulted in excess net proceeds of approximately $200 million after closing costs and reserves including the return to the Company of reserves held by the previous lender.

On March 11, 2015, the Company completed the sale of the 112-room Hampton Inn Terre Haute in Terre Haute, IN for $7.9 million ($70,500 per key). The sale, including anticipated capital expenditures, represented a trailing 12-month cap rate of 7.0% on net operating income and a trailing 14.4x EBITDA multiple.

On April 29, 2015, the Company closed on the acquisition of the 124-room Hampton Inn & Suites in Gainesville, FL for total consideration of $25.3 million ($204,000 per key), which represents an estimated  forward 12-month cap rate of 9.1% on net operating income and an estimated 9.9x forward EBITDA multiple.

PORTFOLIO REVPAR

As of March 31, 2015, the Ashford Trust Portfolio consisted of direct hotel investments with 116 properties classified in continuing operations.  During the first quarter of 2015, 107 of the Ashford Trust Portfolio hotels included in continuing operations were not under renovation.  The Company believes reporting its operating metrics for the Ashford Trust Portfolio hotels in continuing operations on a pro forma total basis (all 116 hotels) and pro forma not under renovation basis (107 hotels) is a measure that reflects a meaningful and focused comparison of the operating results in its portfolio.  Details of each category are provided in the tables attached to this release.

·                  Pro forma RevPAR increased 8.5% to $110.69 for all hotels on a 5.5% increase in ADR and a 2.8% increase in occupancy

·                  Pro forma RevPAR increased 9.9% to $111.77 for hotels not under renovation on a 5.9% increase in ADR and a 3.8% 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 and its active capital recycling, 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 Trust 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 116 Ashford Trust hotels are provided in the table attached to this release.

ASHFORD HOSPITALITY SELECT

On January 29, 2015, the Company announced a plan to form Ashford Hospitality Select (“Ashford Select”), a new privately-held company dedicated to investing primarily in premium-branded select-service hotels, including extended stay hotels in the U.S.  Ashford Select will be advised by Ashford Inc.  Upon the launch of this platform, Ashford Trust’s investment strategy will be revised to focus on full-service, premium-branded upscale, and upper-upscale hotels primarily located in major markets with RevPAR less than twice the national average.  Management is currently speaking with potential capital partners about this strategy and will either have Ashford Trust pursue the strategy itself and distribute the Ashford Select platform when it has reached

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scale, or Ashford Trust will team up with a capital source to purchase select-service assets and then distribute the Ashford Select platform.

COMMON STOCK DIVIDEND

On March 13, 2015, the Company announced that its Board of Directors had declared a quarterly cash dividend of $0.12 per diluted share for the Company’s common stock for the first quarter ending March 31, 2015, payable on April 15, 2015, to shareholders of record as of March 31, 2015.

“The first quarter of 2015 was another period of solid RevPAR and EBITDA growth for Ashford Trust driven largely by the continued success of our robust revenue initiatives.  With the revenue initiatives solidly in place and the positive industry fundamentals we are experiencing, we expect to be able to continue to drive solid results from these assets,” commented Monty J. Bennett, Ashford Trust’s Chairman and Chief Executive Officer.  “Our management team remains very active in the market and took advantage of opportunities to complete several strategic acquisitions as well as over $1.6 billion of financings during the quarter.  We will continue to seek and pursue these types of opportunities to capitalize on favorable market dynamics to accretively add value to our portfolio.”

INVESTOR CONFERENCE CALL AND SIMULCAST

Ashford Hospitality Trust, Inc. will conduct a conference call on Friday, May 8, 2015, at 11:00 a.m. ET.  The number to call for this interactive teleconference is (719) 325-2464.  A replay of the conference call will be available through Friday, May 15, 2015, by dialing (719) 457-0820 and entering the confirmation number, 6009183.

The Company will also provide an online simulcast and rebroadcast of its first quarter 2015 earnings release conference call.  The live broadcast of Ashford Hospitality Trust’s quarterly conference call will be available online at the Company’s web site, www.ahtreit.com on Friday, May 8, 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 and debt 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.

*  *  *  *  *

Ashford Hospitality Trust is a real estate investment trust (REIT) focused on investing opportunistically in the hospitality industry across all segments and at all levels of the capital structure primarily within the United States.

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

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@MBennettAshford.

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 Trust’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; the degree and nature of our competition; and the satisfaction of conditions to, or the completion of, the proposed launch of Ashford Select.  These and other risk factors are more fully discussed in Ashford Trust’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 TRUST, INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

(in thousands, except share amounts)

(unaudited)

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ASHFORD HOSPITALITY TRUST, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF OPERATIONS

(in thousands, except per share amounts)

(unaudited)

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ASHFORD HOSPITALITY TRUST, INC. AND SUBSIDIARIES

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

(in thousands)

(unaudited)

(1)         Other income, primarily consisting of net realized gain/loss on marketable securities in both periods, is excluded from Adjusted EBITDA.

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

(in thousands, except per share amounts)

(unaudited)

(1)         Other income, primarily consisting of net realized gain/loss on marketable securities in both periods, is excluded from Adjusted FFO.

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ASHFORD HOSPITALITY TRUST, INC. AND SUBSIDIARIES

SUMMARY OF INDEBTEDNESS

MARCH 31, 2015

(dollars in thousands)

(unaudited)

All indebtedness is non-recourse.

(1) This mortgage loan has three one-year extension options beginning February 2016, subject to satisfaction of certain conditions. The interest rate is subject to a LIBOR floor of 0.20%.

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

(3) On January 2, 2015, we refinanced our $145.3 million loan due July 2015 and our $211.0 million loan due November 2015 with a $376.8 million loan due January 2017 with an interest rate of LIBOR + 4.95%, a $54.8 million loan due February 2025 with a fixed interest rate of 4.45%, a $24.5 million loan due February 2025 with a fixed interest rate of 4.45%, and a $21.2 million loan due February 2025 with a fixed interest rate of 4.45%.

(4) This mortgage loan has three one-year extension options beginning January 2017, subject to satisfaction of certain conditions.

(5) This mortgage loan has three one-year extension options beginning April 2017, subject to satisfaction of certain conditions.

(6) On March 6, 2015, we refinanced our $907.5 million loan due March 2015 with a $1,070.6 million loan due April 2017 with four one-year extension options.  The new loan provides for an interest rate of LIBOR + 4.39%.

(7) The interest rate on this mortgage loan which closed in July 2014 is subject to a LIBOR floor of 0.25% and changes to a 4.00% fixed rate after 18 months.

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ASHFORD HOSPITALITY TRUST, INC. AND SUBSIDIARIES

INDEBTEDNESS BY MATURITY ASSUMING EXTENSION OPTIONS ARE EXERCISED

MARCH 31, 2015

(in thousands)

(unaudited)

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ASHFORD HOSPITALITY TRUST, INC. AND SUBSIDIARIES

KEY PERFORMANCE INDICATORS - PRO FORMA

(unaudited)