Stephen Zsigray Of Ashford Hospitality Trust Sells Three Hotels For $69.5 Million
2911 Sage Road, 9505 Stonelake Boulevard & 833 Poydras Street
$69,500,000
Building Size
—
Asset Type
Hotel
Closing
Nov 21, 2025
AI
Three hotels have been sold by Ashford Hospitality Trust, which included Le Pavillon located at 833 Poydras Street in New Orleans, Embassy Suites Austin Arboretum at 2911 Sage Road, and Embassy Suites Houston Near the Galleria at 9505 Stonelake Boulevard. The total transaction amount is $69,500,000, encompassing 526 keys and a price per key of $132,129, within the markets of Houston & Austin, TX, and New Orleans, LA.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $69,500,000
- Seller: Stephen Zsigray
- Company: Ashford Hospitality Trust
- Keys: 526
- Price per Key: $132,129
- Addresses: 2911 Sage Road, 9505 Stonelake Boulevard, 833 Poydras Street
- Markets: Houston & Austin, TX; New Orleans, LA
The divestitures are anticipated to enhance annual cash flow by over $2 million, provide savings of $14.5 million in future capital expenditures, and allow Ashford Hospitality Trust to retire existing mortgage debt.
Houston Hotel Market Snapshot
Boundary boundary · Hotel · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.23%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93