Filing Flows › Ashford Hospitality Trust (AHT) › Q1 2026 › vs Q1 2025
Ashford Hospitality Trust (AHT) Q1 2026 vs Q1 2025 (year over year)
Ashford Hospitality Trust's revenue fell $9.6M (-3%) from $277M in Q1 2025 to $268M in Q1 2026. The biggest changes: Total Hotel −$9.5M (-3%); Other −$155K (-50%).
Ashford Hospitality Trust, Q1 2026: revenue $268M (-4% year over year), operating margin 4.9%, net loss $65.5M, operating cash flow $29.5M. The chart draws each line against Q1 2025, the increases inside each band.
Margins
| Q1 2026 | Q1 2025 | Change | |
|---|---|---|---|
| Free cash flow margin | 4.7% | -16.2% | +20.9 pts |
Every line
| Line | Q1 2026 | Q1 2025 | Change | % |
|---|---|---|---|---|
| Rooms | $200M | $206M | −$6.3M | -3% |
| Food and beverage | $51.6M | $54.5M | −$3.0M | -5% |
| Hotel, Other | $16.0M | $16.2M | −$237K | -1% |
| Total Hotel | $268M | $277M | −$9.5M | -3% |
| Other | $154K | $309K | −$155K | -50% |
| Revenue | $268M | $277M | −$9.6M | -3% |
| Net loss | $65.5M | $22.2M | $43.3M | +195% |
| Costs & expenses | $333M | $300M | $33.6M | +11% |
| Operating costs | $254M | $216M | $38.7M | +18% |
| Interest & other, net | $78.0M | $83.4M | −$5.5M | -7% |
| Income tax | $752K | $317K | $435K | +137% |
| Cost of revenue | $181M | $188M | −$7.3M | -4% |
| General & admin | $1.6M | $4.3M | −$2.7M | -63% |
| Other operating costs | $71.8M | $23.0M | $48.7M | +212% |
| Operating cash sources | $95.0M | −$2.8M | $97.8M | — |
| Depreciation & amortization | $32.0M | $37.3M | −$5.3M | -14% |
| Share-based compensation | $28K | $0 | $28K | — |
| Working capital & other | $62.9M | −$40.1M | $103M | — |
| Net loss absorbed | $65.5M | $22.2M | $43.3M | +195% |
| Operating cash flow | $29.5M | −$25.0M | $54.5M | — |
| Free cash flow (OCF − capex) | $12.6M | −$44.8M | $57.4M | — |
| Capital expenditures | $17.0M | $19.9M | −$2.9M | -15% |
Questions
How much did Ashford Hospitality Trust's revenue grow year over year in Q1 2026?
Ashford Hospitality Trust's revenue fell $9.6M (-3%) from $277M in Q1 2025 to $268M in Q1 2026.
What drove Ashford Hospitality Trust's revenue change in Q1 2026?
Total Hotel −$9.5M (-3%); Other −$155K (-50%).