Ashford Prime Files Presentation Detailing Outperformance of Total Stockholder Return Over Last 12 Months

Since inception, Ashford Prime's Board of Directors and management team has welcomed an open dialogue and constructive feedback from stockholders. Based on discussions with stockholders and the Company's belief that Ashford Prime's stock price did not fully reflect its intrinsic value, Ashford Prime proactively commenced a strategic review process last August to explore a full range of strategic alternatives to maximize stockholder value with the assistance of both financial and legal advisors. The Company, last month, concluded its strategic alternatives process and announced several initiatives it believes will create value for the stockholders of the Company.  The Company also believes the market's positive reaction to these initiatives demonstrates that the Company is moving in the right direction by executing on its strategic plan.

The presentation highlights Ashford Prime's strong total stockholder return versus peer companies:

• Ashford Prime's total stockholder return has outperformed its peers by 530 basis points in the past year from May 15, 2015 to May 12, 2016.
• Ashford Prime's total stockholder return has materially outperformed its peers by 2,140 basis points since Ashford Prime commenced its strategic review process on August 27, 2015.
• Ashford Prime's total stockholder return materially outperformed its peers by 1,740 basis points from the date when the Company commenced its strategic review process on August 27, 2015 until the day before Sessa Capital ("Sessa") announced its slate of board nominees on January 15, 2016.
• Ashford Prime's total stockholder return has materially outperformed its peers by 1,530 basis points since Ashford Prime concluded its strategic review process on April 7, 2016.

In contrast, Ashford Prime's total stockholder return underperformed its peers by 1,280 basis points from the day before Sessa announced its slate of board nominees on January 15, 2016 until the Company concluded its strategic review process on April 7, 2016. The Company believes the market's negative reaction following the nomination of purported directors by Sessa Capital demonstrates that Sessa's disruptive actions are not supportive of enhancing stockholder value and are clearly not in the best interests of Ashford Prime or its stockholders. The Company believes Sessa's reckless campaign has created confusion for stockholders and risks triggering a significant termination fee, which would destroy stockholder value.

Photo- http://photos.prnewswire.com/prnh/20160517/368469

The presentation is available on the Company's website at www.ahpreit.com and www.ashfordprimefacts.com. 

Ashford Prime has retained Cadwalader Wickersham & Taft LLP as legal counsel. Moelis & Company LLC is acting as financial advisor to Ashford Prime in connection with Sessa's proxy contest.

Ashford Prime is a real estate investment trust (REIT) focused on investing in luxury hotels located in resort and gateway markets.

Forward-Looking Statements

Certain statements and assumptions in this press release contain or are based upon "forward-looking" information and are being made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties. When we use the words "will likely result," "may," "anticipate," "estimate," "should," "expect," "believe," "intend," or similar expressions, we intend to identify forward-looking statements. Such forward-looking statements include, but are not limited to, our business and investment strategy, our understanding of our competition, current market trends and opportunities, and projected capital expenditures. Such statements are subject to numerous assumptions and uncertainties, many of which are outside of our control.

These forward-looking statements are subject to known and unknown risks and uncertainties, which could cause actual results to differ materially from those anticipated, including, without limitation: general volatility of the capital markets, the general economy or the hospitality industry, whether the result of market events or otherwise; our ability to deploy capital and raise additional capital at reasonable costs to repay debts, invest in our properties and fund future acquisitions; unanticipated increases in financing and other costs, including a rise in interest rates; the degree and nature of our competition; actual and potential conflicts of interest with Ashford Hospitality Trust, Inc., Ashford Hospitality Advisors, LLC ("Ashford LLC"), Ashford Inc., Remington Lodging & Hospitality, LLC, our executive officers and our non-independent directors; our ability to implement and execute on planned initiatives announced in connection with the conclusion of our independent directors' strategic review process; changes in personnel of Ashford LLC or the lack of availability of qualified personnel; changes in governmental regulations, accounting rules, tax rates and similar matters; legislative and regulatory changes, including changes to the Internal Revenue Code and related rules, regulations and interpretations governing the taxation of real estate investment trusts ("REITs"); and limitations imposed on our business and our ability to satisfy complex rules in order for us to qualify as a REIT for U.S. federal income tax purposes. These and other risk factors are more fully discussed in the section entitled "Risk Factors" in our Annual Report on Form 10-K, and from time to time, in our other filings with the Securities and Exchange Commission ("SEC").

The forward-looking statements included in this press release are only made as of the date of this press release. Investors should not place undue reliance on these forward-looking statements. We are not obligated to publicly update or revise any forward-looking statements, whether as a result of new information, future events or circumstances, changes in expectations or otherwise.

Additional Information and Where To Find It

Ashford Hospitality Prime, Inc. ("Ashford Prime"), its directors, executive officers and other employees may be deemed to be participants in the solicitation of proxies from Ashford Prime's stockholders in connection with its 2016 Annual Meeting of Stockholders (the "2016 Annual Meeting"). Stockholders may obtain information regarding the names, affiliations and interests of such individuals in Ashford Prime's definitive proxy statement, filed with the SEC on April 25, 2016. Additional information regarding the identity of potential participants, and their direct or indirect interests, by security holdings or otherwise, is set forth in the definitive proxy statement and, to the extent applicable, will be updated in other materials to be filed with the SEC in connection with Ashford Prime's 2016 Annual Meeting.

Ashford Prime has filed a definitive proxy statement in connection with the 2016 Annual Meeting. ASHFORD PRIME STOCKHOLDERS ARE STRONGLY URGED TO READ THE DEFINITIVE PROXY STATEMENT, THE ACCOMPANYING GOLD PROXY CARD AND OTHER RELEVANT DOCUMENTS FILED BY ASHFORD PRIME WITH THE SEC IN THEIR ENTIRETY BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. The definitive proxy statement and an accompanying GOLD proxy card are, along with other relevant documents, available at no charge on the SEC's website at www.sec.gov. Copies of these documents will also be available free of charge from Ashford Prime by directing a request to Ashford Hospitality Prime, Inc., Attn: Investor Relations, 14185 Dallas Parkway, Suite 1100, Dallas, Texas 75254 or by calling (972) 490-9600.

SOURCE Ashford Hospitality Prime, Inc.