Filing Flows › Ashford Hospitality Trust (AHT) › Q2 2026 › vs Q2 2025
Ashford Hospitality Trust (AHT) Q2 2026 vs Q2 2025 (year over year)
Ashford Hospitality Trust's revenue fell $28.8M (-10%) from $302M in Q2 2025 to $273M in Q2 2026. The biggest changes: Total Hotel −$28.5M (-9%); Other −$283K (-62%). Operating margin 71.9% against 16.3% (+55.5 pts).
Ashford Hospitality Trust, Q2 2026: revenue $273M (-10% year over year), operating margin 71.9%, net earnings $128M, operating cash flow −$7.4M. The chart draws each line against Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Operating margin | 71.9% | 16.3% | +55.5 pts |
| Net margin | 46.8% | -10.1% | +56.9 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Rooms | $210M | $227M | −$17.6M | -8% |
| Food and beverage | $47.0M | $55.3M | −$8.3M | -15% |
| Hotel, Other | $16.4M | $19.0M | −$2.6M | -13% |
| Total Hotel | $273M | $302M | −$28.5M | -9% |
| Other | $173K | $456K | −$283K | -62% |
| Revenue | $273M | $302M | −$28.8M | -10% |
| Operating profit | $196M | $49.3M | $147M | +298% |
| Costs & expenses | $76.9M | $253M | −$176M | -70% |
| Pre-tax earnings | $132M | −$32.3M | $164M | — |
| Other expense, net | $64.4M | $81.6M | −$17.2M | -21% |
| General & admin | $1.3M | $5.5M | −$4.2M | -76% |
| Other operating costs | $75.6M | $48.4M | $27.2M | +56% |
| Net earnings | $128M | −$30.4M | $158M | — |
| Minority interests | $1.4M | −$2.0M | $3.4M | — |
| Income tax | $2.6M | $119K | $2.4M | 21× |
| Operating cash sources | $164M | −$11.2M | $175M | — |
| Depreciation & amortization | $28.6M | $35.3M | −$6.6M | -19% |
| Share-based compensation | $28K | $221K | −$193K | -87% |
| Cash used in operations | $7.4M | −$16.3M | $23.7M | — |
| Working capital & other | $164M | −$11.2M | $175M | — |
Questions
How much did Ashford Hospitality Trust's revenue grow year over year in Q2 2026?
Ashford Hospitality Trust's revenue fell $28.8M (-10%) from $302M in Q2 2025 to $273M in Q2 2026.
What drove Ashford Hospitality Trust's revenue change in Q2 2026?
Total Hotel −$28.5M (-9%); Other −$283K (-62%).