Ashford Sees “Transient Business” Activity Pick Up

DALLAS-Ashford Hospitality Trust Inc. is experiencing increased demand from business travelers who are not part of a high-volume corporate contract. These people, known as “transient business travelers” pay higher rates than those with corporate rates.

The REIT’s CEO Monty Bennett made the announcement during the company’s first quarter 2011 earnings call. “While group demand is picking up, a big chunk of our business is transient corporate, maybe 25% of our overall businesses grew, but 75% is transient,” he explained. “And then most of that, a good majority of that is business transient, and that business coming back with their high associated rates is what we’re very excited about, and what we think should move the needle across the industry going forward.”