Exhibit 99.1

ASHFORD TRUST REPORTS THIRD QUARTER 2015 RESULTS

5.0% RevPAR Increase for All Hotels for the Third Quarter

Adjusted EBITDA Increased 26%

Adjusted Funds From Operations per Share Increased 40%

DALLAS, November 4, 2015 —Ashford Hospitality Trust, Inc. (NYSE: AHT) (“the Company” or “Ashford Trust”) today reported financial results and performance measures for the third quarter ended September 30, 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 assuming each of the hotel properties in the Company’s hotel portfolio as of September 30, 2015 were owned as of the beginning of each of the periods presented.  Unless otherwise stated, all reported results compare the third quarter ended September 30, 2015, with the third quarter ended September 30, 2014 (see discussion below).  The reconciliation of non-GAAP financial measures is included in the financial tables accompanying this press release.

OVERVIEW

·                  Opportunistic focus on upper upscale full service hotels

·                  Uses moderate debt levels of approximately 55 – 60% net debt/gross assets

·                  Attractive dividend yield of approximately 6.9%

·                  One of the highest long-term total shareholder returns in the industry

FINANCIAL AND OPERATING HIGHLIGHTS

·                  RevPAR for all hotels increased 5.0% during the quarter

·                  RevPAR for all hotels not under renovation increased 5.8% during the quarter

·                  Adjusted EBITDA increased $21.6 million or 26%

·                  Adjusted funds from operations (AFFO) was $0.35 per diluted share for the quarter as compared with $0.25 from the prior-year quarter representing an increase of 40%

·                  The Company’s common stock is currently trading at an approximate 6.9% dividend yield

·                  On July 7, 2015, the Company announced it had completed the conversion of the 260-room Beverly Hills Marriott, formerly the Crowne Plaza Beverly Hills, following an extensive $26.0 million renovation

·                  On July 27, 2015, the Company distributed the remaining shares that it owned of Ashford Hospitality Prime, Inc. (NYSE: AHP) (“Ashford Prime”) to its shareholders

·                  Capex invested in the quarter was $42.2 million

CAPITAL STRUCTURE

At September 30, 2015, the Company had total assets of $4.9 billion in continuing operations.  As of September 30, 2015, the Company had $3.7 billion of mortgage debt in continuing operations. Ashford Trust’s total combined debt had a blended average interest rate of 4.97%.

On July 1, 2015, the Company announced that it had closed on the acquisition of the 237-room W Atlanta Downtown hotel for total consideration of $56.8 million ($239,000 per key).  On a forward 12-month basis, the purchase price represents an estimated cap rate of 7.2% on net operating income and an estimated 11.6x EBITDA multiple.  The Company financed the property with a $40.5 million non-recourse mortgage loan.  The loan is interest only and provides for a floating interest rate of LIBOR + 5.10%.

On July 27, 2015, the Company distributed the remaining shares that it owned of Ashford Prime to its shareholders through a pro-rata, taxable dividend which equated to approximately 0.04 shares of Ashford Prime common stock for every share of Ashford Trust common stock owned.  Ashford Trust no longer has any ownership interest in Prime.

PORTFOLIO REVPAR

As of September 30, 2015, the Ashford Trust portfolio consisted of direct hotel investments with 130 properties classified in continuing operations.  During the third quarter of 2015, 115 of the Company’s hotels included in continuing operations were not under renovation.  The Company believes reporting its operating metrics for the hotels in continuing operations on a pro forma total basis (all 130 hotels) and pro forma not under renovation basis (115 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 5.0% to $115.93 for all hotels on a 4.2% increase in ADR and a 0.8% increase in occupancy

·                  Pro forma RevPAR increased 5.8% to $118.58 for hotels not under renovation on a 3.9% increase in ADR and a 1.8% 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 Company’s 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 130 hotels are provided in the table attached to this release.

STRATEGY REFINEMENTS

Ashford Trust is reaffirming its previously announced strategy refinements as follows:

·                  The Company will focus on acquiring and owning upper upscale, full service hotels

·                  The Company is not planning nor expects any future platform spinoffs

·                  The Company will continue to target a net debt to gross assets ratio of 55% - 60%

·                  The Company will continue to target cash and cash equivalents at a level of 25% - 35% of its total equity market capitalization for the purposes of:

·                  property-level and corporate-level working capital needs

·                  as a hedge against a downturn in the economy or hotel fundamentals

·                  to be prepared to pursue accretive investments or stock buybacks as those opportunities arise

·                  The sale process for the Company’s 24 select-service hotel portfolio is on track with anticipated closing in the first quarter of 2016 with expected gross proceeds of approximately $550-$600 million

·                  The Company intends to take an opportunistic approach to selling its remaining select-service hotels in the future to further simplify and streamline the platform

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PLANNED SALE OF SELECT-SERVICE HOTEL PORTFOLIO

The for-sale, 24 select-service hotel portfolio totals 4,410 rooms, is encumbered by approximately $190.0 million of long-term, fixed rate debt and approximately $194.0 million of maturing or floating rate debt for total debt of approximately $384.0 million.  The current trailing 12-month NOI for the portfolio is approximately $45.0 million, and the trailing 12-month RevPAR for the portfolio is approximately $88.  It is anticipated that the sale will be completed in the first quarter of 2016.

COMMON STOCK DIVIDEND

On September 15, 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 third quarter ending September 30, 2015, payable on October 15, 2015, to shareholders of record as of September 30, 2015.

“In spite of more difficult year-over-year comparisons given holiday shifts in the third quarter, we generated strong RevPAR growth, supporting another quarter of solid EBITDA and AFFO performance.  These results are a testament to the benefits of Ashford Trust’s geographically diversified portfolio,” commented Monty J. Bennett, Ashford Trust’s Chairman and Chief Executive Officer.  “We expect the sale of our 24 select-service hotel portfolio, coupled with continued strong operating performance, to narrow the valuation discount currently being applied to our stock price and believe the more simplified and distinct strategy of focusing on upper-upscale, full-service hotels is the right one for Ashford Trust going forward.”

INVESTOR CONFERENCE CALL AND SIMULCAST

Ashford Hospitality Trust, Inc. will conduct a conference call on Thursday, November 5, 2015, at 11:00 a.m. ET.  The number to call for this interactive teleconference is (785) 424-1666.  A replay of the conference call will be available through Thursday, November 12, 2015, by dialing (719) 457-0820 and entering the confirmation number, 153611.

The Company will also provide an online simulcast and rebroadcast of its third 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 Thursday, November 5, 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 in upper upscale, full-service hotels.

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Follow Chairman and CEO Monty Bennett on Twitter at www.twitter.com/MBennettAshford or @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.  Forward looking statements in this press release include, among others, statements about the Company’s strategy and future plans.  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; and the degree and nature of our competition.  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) expense, primarily consisting of net realized gain/loss on marketable securities in both periods, is excluded from Adjusted EBITDA.

ASHFORD HOSPITALITY TRUST, INC. AND SUBSIDIARIES

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

(in thousands, except per share amounts)

(unaudited)

(1)  Other (income) expense, 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

SEPTEMBER 30, 2015

(dollars in thousands)

(unaudited)