AHTAshford Hospitality Trust, Inc.

$21M

FY 2008 Earnings

Real Estate REIT - Hotel & Motel

Income Statement

Revenue

$1.2B+3.9% YoY

Gross Profit

$419M35.7% margin

Operating Income

$160M13.7% margin

Net Income

$129M11.0% margin

EPS (Diluted)

$910.00

Cash Flow

Operating Cash Flow

$145M

Free Cash Flow

$18M

Stock-Based Comp.

$7M

Balance Sheet

Total Assets

$4.3B

Total Liabilities

$3.0B

Stockholders' Equity

$1.2B

Cash & Equivalents

$242M

Year-over-Year Comparison

Metric	Current	Year Ago	Change
Revenue	$1.2B	$1.1B	+3.9%
Gross Profit	$419M	$390M	+7.6%
Operating Income	$160M	$151M	+6.1%
Net Income	$129M	$30M	+328.4%

AHT FY 2008 Earnings — Ashford Hospitality Trust, Inc. Revenue & Financial Results | Market Cap Arena