EXHIBIT 99.1

On June 30, 2026, Ashford Hospitality Trust, Inc. (“Ashford Trust” or the “Company”) completed the sale of the 351-room Hyatt Regency Savannah located in Savannah, Georgia (“Hyatt Savannah”) for total consideration of approximately $157.6 million in cash, net of selling expenses. Additionally, the Company paid approximately $159.0 million to the mortgage lender. The mortgage loan is secured by 16 hotels including the Hyatt Savannah.

The following unaudited pro forma financial information of the Company, as of and for the three months ended March 31, 2026, and for the year ended December 31, 2025, has been prepared for informational purposes only and does not purport to be indicative of what would have resulted had the disposition occurred on the date indicated or what may result in the future. The unaudited pro forma consolidated balance sheet assumes the disposition closed on March 31, 2026. The unaudited pro forma consolidated statements of operations for the year ended December 31, 2025, and the three months ended March 31, 2026, assumes the disposition closed on January 1, 2025. The unaudited pro forma financial information of the Company reflects the removal of the assets and liabilities of the Hyatt Savannah and its results of operations, which contains a non-recurring gain associated with the disposition of the hotel property. The pro forma gain and the related tax effects resulting from the disposition of the Hyatt Savannah are preliminary. Therefore, the actual results may differ from the amounts reflected in the pro forma financial statements. There are no other non-recurring items associated with the transaction.

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ASHFORD HOSPITALITY TRUST, INC. AND SUBSIDIARIES

UNAUDITED PRO FORMA CONDENSED CONSOLIDATED BALANCE SHEET

March 31, 2026

(in thousands, except share and per share amounts) 

			Ashford Trust Consolidated Historical (A)						Hyatt Savannah (B)						Adjustments						Ashford Trust Consolidated Pro Forma
ASSETS
Investments in hotel properties, gross ($82,787 attributable to VIEs)			$	2,617,922					$	88,993					$	—					$	2,528,929
Accumulated depreciation ($(6,594) attributable to VIEs)			(810,924)						(23,205)						—						(787,719)
Investments in hotel properties, net ($76,193 attributable to VIEs)			1,806,998						65,788						—						1,741,210
Contract asset			335,979						—						—						335,979
Cash and cash equivalents ($1,011 attributable to VIEs)			78,042						7,051						157,567			(C) (i)			79,781
															10,197			(C) (i)
															(158,974)			(C) (ii)
Restricted cash ($4,203 attributable to VIEs)			141,203						5,716						—						135,487
Accounts receivable ($170 attributable to VIEs), net of allowance of $435			43,426						1,960						—						41,466
Inventories ($34 attributable to VIEs)			3,106						117						—						2,989
Notes receivable, net			12,486						—						—						12,486
Investments in unconsolidated entities			7,063						—						—						7,063
Deferred costs, net ($79 attributable to VIEs)			1,210						—						—						1,210
Derivative assets			1,212						—						—						1,212
Operating lease right-of-use assets			41,035						105						—						40,930
Prepaid expenses and other assets ($153 attributable to VIEs)			53,235						1,264						—						51,971
Due from third-party hotel managers			24,535						—						—						24,535
Assets held for sale			55,779						—						—						55,779
Total assets			$	2,605,309					$	82,001					$	8,790					$	2,532,098
LIABILITIES AND EQUITY/DEFICIT
Liabilities:
Indebtedness, net ($15,910 attributable to VIEs)			$	2,287,163					$	62,259					$	(96,715)		(C) (ii)			$	2,128,189
Debt associated with hotels in receivership			252,000						—						—						252,000
Finance lease liability			17,417						—						—						17,417
Accounts payable and accrued expenses ($15,427 attributable to VIEs)			140,837						4,292						—						136,545
Accrued interest payable ($151 attributable to VIEs)			31,787						312						—						31,475
Accrued interest associated with hotels in receivership			83,979						—						—						83,979
Dividends and distributions payable			4,247						—						—						4,247
Due to Ashford Inc., net			65,638						172						—						65,466
Due to related parties, net ($3,517 attributable to VIEs)			12,319						—						—						12,319
Due to third-party hotel managers			1,306						338						—						968
Operating lease liabilities			44,042						111						—						43,931
Other liabilities ($28,919 attributable to VIEs)			36,695						—						—						36,695
Liabilities related to assets held for sale			66,613						—						—						66,613
Total liabilities			3,044,043						67,484						(96,715)						2,879,844
Commitments and contingencies
Redeemable noncontrolling interests in operating partnership			19,945						—						—						19,945
Series J Redeemable Preferred Stock, $0.01 par value, 7,684,197 shares issued and outstanding at March 31, 2026			183,655						—						—						183,655
Series K Redeemable Preferred Stock, $0.01 par value, 731,102 shares issued and outstanding at March 31, 2026			18,591						—						—						18,591
Series L Redeemable Preferred Stock, $0.01 par value, 238,191 shares issued and outstanding at March 31, 2026			5,547						—						—						5,547
Series M Redeemable Preferred Stock, $0.01 par value, 550,888 shares issued and outstanding at March 31, 2026			13,831						—						—						13,831
Equity (deficit):
Preferred stock, $0.01 par value, 55,000,000 shares authorized:
Series D Cumulative Preferred Stock, 1,111,127 shares issued and outstanding at March 31, 2026			11						—						—						11
Series F Cumulative Preferred Stock, 1,037,044 shares issued and outstanding at March 31, 2026			10						—						—						10
Series G Cumulative Preferred Stock, 1,470,948 shares issued and outstanding at March 31, 2026			15						—						—						15
Series H Cumulative Preferred Stock, 1,037,956 shares issued and outstanding at March 31, 2026			10						—						—						10
Series I Cumulative Preferred Stock, 1,034,303 shares issued and outstanding at March 31, 2026			11						—						—						11
Common stock, $0.01 par value, 395,000,000 shares authorized, 6,476,491 shares issued and outstanding at March 31, 2026			65						—						—						65
Additional paid-in capital			2,402,044						14,517						66,579			(C) (i)			2,402,044
															10,197			(C) (i)
															(62,259)			(C) (ii)
Accumulated deficit			(3,097,325)						—						90,988			(C) (i)			(3,006,337)
Total stockholders’ equity (deficit) of the Company			(695,159)						14,517						105,505						(604,171)
Noncontrolling interest in consolidated entities			14,856						—						—						14,856
Total equity (deficit)			(680,303)						14,517						105,505						(589,315)
Total liabilities and equity/deficit			$	2,605,309					$	82,001					$	8,790					$	2,532,098

See accompanying notes.

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NOTES TO UNAUDITED PRO FORMA CONDENSED CONSOLIDATED BALANCE SHEET

(A)Represents the historical consolidated balance sheet of Ashford Trust as of March 31, 2026, as reported in its Quarterly Report on Form 10-Q, filed on May 14, 2026.

(B)Represents the removal of the historical balance sheet of the Hyatt Savannah as of March 31, 2026.

(C)Represents adjustments for Ashford Trust’s disposition of the Hyatt Savannah as of March 31, 2026, which includes: (i) an adjustment for the cash consideration received of approximately $157.6 million, net of selling expenses and cash received for hotel net working capital and (ii) the cash paid to repay the mortgage loan partially secured by the Hyatt Savannah.

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ASHFORD HOSPITALITY TRUST, INC. AND SUBSIDIARIES

UNAUDITED PRO FORMA CONSOLIDATED STATEMENT OF OPERATIONS

Year Ended December 31, 2025

(in thousands, except per share amounts)

			Ashford Trust Consolidated Historical (A)						Hyatt Savannah (B)						Adjustments																								Ashford Trust Consolidated Pro Forma
REVENUE
Rooms			$	825,623					$	23,773					$	—																							$	801,850
Food and beverage			207,588						12,062						—																								195,526
Other hotel revenue			69,643						4,532						—																								65,111
Total hotel revenue			1,102,854						40,367						—																								1,062,487
Other			1,534						—						—																								1,534
Total revenue			1,104,388						40,367						—																								1,064,021
EXPENSES
Hotel operating expenses:
Rooms			198,106						5,502						—																								192,604
Food and beverage			139,828						7,075						—																								132,753
Other expenses			392,070						9,549						—																								382,521
Management fees			38,264						1,615						—																								36,649
Total hotel expenses			768,268						23,741						—																								744,527
Property taxes, insurance and other			59,793						2,242						—																								57,551
Depreciation and amortization			141,295						2,945						—																								138,350
Impairment charges			67,648						—						—																								67,648
Advisory services fee			49,039						—						—																								49,039
Corporate, general and administrative			20,783						—						—																								20,783
Total operating expenses			1,106,826						28,928						—																								1,077,898
Gain (loss) on consolidation of VIE and disposition of assets and hotel properties			79,799						—						90,988																					(C) (i)			170,787
Gain (loss) on derecognition of assets			39,054						—						—																								39,054
OPERATING INCOME (LOSS)			116,415						11,439						90,988																								195,964
Equity in earnings (loss) of unconsolidated entities			(325)						—						—																								(325)
Interest income			4,739						—						—																								4,739
Interest expense and amortization of discounts and loan costs			(256,229)						(5,751)						—																								(250,478)
Interest expense associated with hotels in receivership			(39,038)						—						—																								(39,038)
Write-off of premiums, loan costs and exit fees			(8,853)						(154)						—																								(8,699)
Gain (loss) on extinguishment of debt			335						—						—																								335
Realized and unrealized gain (loss) on derivatives			(5,346)						—						—																								(5,346)
INCOME (LOSS) BEFORE INCOME TAXES			(188,302)						5,534						90,988																								(102,848)
Income tax (expense) benefit			143						—						—																								143
NET INCOME (LOSS)			(188,159)						5,534						90,988																								(102,705)
(Income) loss attributable to noncontrolling interest in consolidated entities			5,058						—						—																								5,058
Net (income) loss attributable to redeemable noncontrolling interests in operating partnership			3,262						—						(1,222)																					(C) (iii)			2,040
NET INCOME (LOSS) ATTRIBUTABLE TO THE COMPANY			(179,839)						5,534						89,766																								(95,607)
Preferred dividends			(28,216)						—						—																								(28,216)
Deemed dividends on redeemable preferred stock			(6,949)						—						—																								(6,949)
NET INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCKHOLDERS			$	(215,004)					$	5,534					$	89,766																							$	(130,772)
INCOME (LOSS) PER SHARE - BASIC:
Net income (loss) attributable to common stockholders			$	(35.99)																																			$	(21.89)
Weighted average common shares outstanding—basic			5,974																																				5,974
INCOME (LOSS) PER SHARE - DILUTED:
Net income (loss) attributable to common stockholders			$	(35.99)																																			$	(21.89)
Weighted average common shares outstanding—diluted			5,974																																				5,974

See accompanying notes.

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ASHFORD HOSPITALITY TRUST, INC. AND SUBSIDIARIES

UNAUDITED PRO FORMA CONSOLIDATED STATEMENT OF OPERATIONS

Three Months Ended March 31, 2026

(in thousands, except per share amounts)

			Ashford Trust Consolidated Historical (A)						Hyatt Savannah (B)												Adjustments						Ashford Trust Consolidated Pro Forma
REVENUE
Rooms			$	200,025					$	5,867											$	—					$	194,158
Food and beverage			51,570						2,969												—						48,601
Other hotel revenue			15,983						1,168												—						14,815
Total hotel revenue			267,578						10,004												—						257,574
Other			154						—												—						154
Total revenue			267,732						10,004												—						257,728
EXPENSES
Hotel operating expenses:
Rooms			46,190						1,326												—						44,864
Food and beverage			34,383						1,789												—						32,594
Other expenses			91,273						2,453												—						88,820
Management fees			9,284						400												—						8,884
Total hotel expenses			181,130						5,968												—						175,162
Property taxes, insurance and other			14,894						570												—						14,324
Depreciation and amortization			32,006						699												—						31,307
Impairment charges			112,649						—												—						112,649
Advisory services fee			20,023						—												—						20,023
Corporate, general and administrative			1,602						—												—						1,602
Total operating expenses			362,304						7,237												—						355,067
Gain (loss) on disposition of assets and hotel properties			100,030						—												—						100,030
Gain (loss) on derecognition of assets			7,790						—												—						7,790
OPERATING INCOME (LOSS)			13,248						2,767												—						10,481
Equity in earnings (loss) of unconsolidated entities			(202)						—												—						(202)
Interest income			922						—												—						922
Other income (expense)			3,223						—												—						3,223
Interest expense and amortization of discounts and loan costs			(73,554)						(1,153)												—						(72,401)
Interest expense associated with hotels in receivership			(7,820)						—												—						(7,820)
Write-off of premiums, loan costs and exit fees			(1,254)						(36)												—						(1,218)
Gain (loss) on extinguishment of debt			(25)						—												—						(25)
Realized and unrealized gain (loss) on derivatives			757						—												—						757
INCOME (LOSS) BEFORE INCOME TAXES			(64,705)						1,578												—						(66,283)
Income tax (expense) benefit			(752)						—												116			(C) (ii)			(636)
NET INCOME (LOSS)			(65,457)						1,578												116						(66,919)
(Income) loss attributable to noncontrolling interest in consolidated entities			655						—												—						655
Net (income) loss attributable to redeemable noncontrolling interests in operating partnership			1,030						—												21			(C) (iii)			1,051
NET INCOME (LOSS) ATTRIBUTABLE TO THE COMPANY			(63,772)						1,578												137						(65,213)
Preferred dividends			(2,714)						—												—						(2,714)
Deemed dividends on redeemable preferred stock			(4,600)						—												—						(4,600)
NET INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCKHOLDERS			$	(71,086)					$	1,578											$	137					$	(72,527)
INCOME (LOSS) PER SHARE - BASIC:
Income (loss) attributable to common stockholders			$	(11.03)																							$	(11.26)
Weighted average common shares outstanding—basic			6,442																								6,442
INCOME (LOSS) PER SHARE - DILUTED:
Income (loss) attributable to common stockholders			$	(11.03)																							$	(11.26)
Weighted average common shares outstanding—diluted			6,442																								6,442

See accompanying notes.

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NOTES TO UNAUDITED PRO FORMA CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS

(A)Represents the historical consolidated statement of operations of Ashford Trust for the year ended December 31, 2025, as reported in its Annual Report on Form 10-K for the year ended December 31, 2025, filed on March 23, 2026 and the historical consolidated statement of operations of Ashford Trust for the three months ended March 31, 2026, as reported in its Quarterly Report on Form 10-Q for the three months ended March 31, 2026, filed on May 14, 2026.

(B)Represents the removal of the historical consolidated statements of operations of the Hyatt Savannah for the year ended December 31, 2025 and the three months ended March 31, 2026.

(C)Represents adjustments for the Company’s sale of the Hyatt Savannah, which includes: (i) the estimated non-recurring gain on the disposition of the Hyatt Savannah for the year ended December 31, 2025; (ii) an adjustment for the estimated tax effect of the hotel no longer being part of the consolidated group for the three months ended March 31, 2026; and (iii) the net (income) loss allocated to redeemable noncontrolling interests in operating partnership related to the disposition of the Hyatt Savannah, including the estimated non-recurring gain for the year ended December 31, 2025, based on an ownership percentage of 1.43% for the year ended December 31, 2025 and 1.43% for the three months ended March 31, 2026. There was no material estimated tax effect of the hotel no longer being part of the consolidated group for the year ended December 31, 2025. The pro forma gain resulting from the disposition of the Hyatt Savannah is preliminary. The actual results may differ from the amounts reflected in the pro forma financial statements.

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