SEC Comment Letter for ASHFORD HOSPITALITY TRUST INC (AHT, AHT-PD, AHT-PF, AHT-PG, AHT-PH, AHT-PI) (CIK 0001232582) (AHT) — Oct 20, 2014

ASHFORD HOSPITALITY TRUST INC (AHT, AHT-PD, AHT-PF, AHT-PG, AHT-PH, AHT-PI) (CIK 0001232582)
Date: Oct. 20, 2014 · CIK: 0001232582 · Accession: 0000000000-14-052013

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AI Filing Summary & Sentiment

File numbers found in text: 001-31775

Date

Oct. 20, 2014

Author

Special Counsel

Form

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ASHFORD HOSPITALITY TRUST INC (AHT, AHT-PD, AHT-PF, AHT-PG, AHT-PH, AHT-PI) (CIK 0001232582)

Letter

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 DIVISION OF CORPORATION FINANCE October 17 , 2014 Via E -mail Andrew Kahn , Esq. Davis Cowell & Bowe LLP 595 Market Street, Suite 1400 San Francisco, CA 94105

Re: Ashford Hospitality Trust, Inc. Definitive Additional Soliciting Materials filed October 10 and 17 , 2014 Filed by UNITE HERE File No. 001-31775

Dear Mr . Kahn :

We have reviewed your filing s and have the following comment .

Definitive Additional Soliciting Materials 1. Each statement or assertion of opinion or belief must be clearly characterized as such, and a reasonable factual basis must exist for each such opinion or belief. Support for opinions or beliefs should be self -evident, disclosed in the solicitation materi als or provided to the staff on a supplemental basis. Please provide us the support for the following:  You statement , referring to a low valuation of Ashford Inc. , that it is an “incentive [that] casts doubt on the notion that a low valuation is intended solely to protect the REIT’s tax status.” (October 10, 2014)  Your statement that Ashford Inc. “ may be uninvestable for REIT -specific index funds .” (October 17, 2014) 2. Provide us supplemental support for your references to the valuations conduct ed by Whitesa nd and by MLV&Co. (October 17, 2014)

You may contact me at (202) 551 -3619 with any questions .

Sincerely,
/s/ Daniel F. Duchovny
Daniel F. Duchovny
Special Counsel
Office of Mergers and Acquisitions

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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

DIVISION OF
CORPORATION FINANCE

October 17 , 2014

Via E -mail

Andrew Kahn , Esq.
Davis Cowell & Bowe LLP
595 Market Street, Suite 1400
San Francisco, CA 94105

Re: Ashford Hospitality Trust, Inc.
Definitive Additional Soliciting Materials filed October 10 and 17 , 2014
Filed by UNITE HERE
File No. 001-31775

Dear Mr . Kahn :

We have reviewed your filing s and have the following comment .

Definitive Additional Soliciting Materials
1. Each statement or assertion of opinion or belief must be clearly characterized as such,
and a reasonable factual basis must exist for each such opinion or belief. Support for
opinions or beliefs should be self -evident, disclosed in the solicitation materi als or
provided to the staff on a supplemental basis. Please provide us the support for the
following:
 You statement , referring to a low valuation of Ashford Inc. , that it is an “incentive
[that] casts doubt on the notion that a low valuation is intended solely to protect the
REIT’s tax status.” (October 10, 2014)
 Your statement that Ashford Inc. “ may be uninvestable for REIT -specific index
funds .” (October 17, 2014)
2. Provide us supplemental support for your references to the valuations conduct ed by
Whitesa nd and by MLV&Co. (October 17, 2014)

You may contact me at (202) 551 -3619 with any questions .

Sincerely,

/s/ Daniel F. Duchovny
Daniel F. Duchovny
Special Counsel
Office of Mergers and Acquisitions

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