DALLAS, Nov. 21, 2014 /PRNewswire/ -- Ashford Hospitality Prime, Inc. ( NYSE: AHP) ("Ashford Prime" or the "Company") announced today that it has filed a resale shelf registration statement ("Resale Shelf Registration") on Form S-3 with the Securities Exchange Commission ("SEC"). The Resale Shelf Registration relates to the potential future exchange and resale of up to 8,776,152 operating partnership units for shares of our common stock. As a result of the transactions relating to the spin-off from Ashford Hospitality Trust, Inc. ("Ashford Trust") in November 2013, certain limited partners of a subsidiary of Ashford Trust received these operating partnership units in a subsidiary of Ashford Prime. In connection with these transactions, those limited partners received registration rights that contractually obligate the Company to file the Resale Shelf Registration. The Company filed the Resale Shelf Registration to provide those limited partners with freely tradable securities.
The registration statement relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold, nor may offers to buy, be accepted prior to the time the registration statement becomes effective. This announcement is neither an offer to sell nor a solicitation of an offer to buy any securities.
Ashford Hospitality Prime is a conservatively capitalized real estate investment trust (REIT) focused on investing in high RevPAR full-service and urban select-service hotels and resorts located predominantly in domestic and international gateway markets.
Follow Chairman and CEO Monty Bennett on Twitter at www.twitter.com/MBennettAshford or @MBennettAshford.
Ashford has created an Ashford App for the hospitality REIT investor community. The Ashford App is available for free download at Apple's App Store and the Google Play Store by searching "Ashford."
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 statements are subject to numerous assumptions and uncertainties, many of which are outside Ashford Prime's 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 and the market price of our common stock; changes in our business or investment strategy; availability, terms and deployment of capital; availability of qualified personnel; changes in our industry and the market in which we operate, interest rates or the general economy; and the degree and nature of our competition. These and other risk factors are more fully discussed in Ashford Prime's filings with the Securities and Exchange Commission.
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.
SOURCE Ashford Hospitality Prime, Inc.