Filing Flows › Ashford Hospitality Trust (AHT) › Q1 2026
Ashford Hospitality Trust (AHT) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 14, 2026
Ashford Hospitality Trust (AHT) reported revenue of $268M for the first quarter 2026 (Q1 2026), -3% from a year earlier and +3% from the quarter before. Operating margin was 4.9%, net loss $65.5M (24.4% of revenue).
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 follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $268M | +3% | -3% |
| Operating profit | $13.2M | — | -78% |
| Net earnings | −$65.5M | — | — |
| Operating cash flow | $29.5M | — | — |
| Free cash flow | $12.6M | — | — |
What changed
Revenue was $267.7M in Q1 2026, down 3% year over year and up 3% from the previous quarter. Rooms was the largest line at 75% of revenue. Rooms lost $6.3M year over year (down 3%), 65% of the total change.
Operating profit was $13.2M, a 4.9% margin (down 17.2 points year over year). Total costs grew 18% against a revenue fall of 3%. The fastest-growing cost line was Other operating costs (+212%). The quarter ended with a net loss of $65.5M, narrower than the previous quarter's $70.8M loss. Minority interests bore $1.7M of it: to shareholders the quarter was a loss of $63.8M. Net interest and other expense of $78.0M was the main reason.
Operating cash flow was $29.5M. Non-cash charges added back $32.0M of depreciation and amortization and $28K of share-based compensation. Working capital and other items added $62.9M. Capital expenditures of $17.0M left free cash flow of $12.6M.
Questions
What was Ashford Hospitality Trust's revenue in the first quarter 2026?
Ashford Hospitality Trust (AHT) reported revenue of $268M for the first quarter 2026 (Q1 2026), -3% from a year earlier and +3% from the quarter before.
Was Ashford Hospitality Trust profitable in the first quarter 2026?
Operating profit was $13.2M (4.9% of revenue) and net loss $65.5M.