An unknown buyer agreed to acquire springhill suites jacksonville from ashford hospitality trust, inc. (nyse:aht) for $11.2 million.

An unknown buyer agreed to acquire springhill suites jacksonville from ashford hospitality trust, inc. (nyse:aht) for $11.2 million on december 4, 2019. as of october 31, 2019, the hotel generated ebitda of $1 million, net income of $0.1 million and net operating income of $0.8 million. the sales price, inclusive of buyer’s estimated anticipated capex of $2.5 million, represents a trailing twelve-month cap rate of 5.9% on net operating income and a 14.3x hotel ebitda multiple as of october 31, 2019. the hotel was unencumbered by debt, and the net proceeds of approximately $10.8 million from the sale will be used for general corporate purposes.
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