Overview Our strategy is to invest opportunistically in the hospitality industry in upper upscale, full service hotels and at all levels of the capital structure primarily within the United States. We target assets that are anticipated to generate RevPAR below twice the current U.S. average RevPAR for all hotels as determined by Smith Travel Research and which are located predominantly in the United States, although we may seek to acquire assets outside the U.S. that fit our investment criteria. Currently, our portfolio consists of 123 properties with over 25,000 rooms. The majority of our portfolio operates under premium brands owned by Marriott, Hilton, Starwood, Hyatt and Intercontinental. We are listed on the New York Stock Exchange under the symbol AHT and are externally-advised by Ashford (NYSE MKT: AINC).