Ashford Hospitality Prime Inc. and activist investor Sessa Capital are in settlement discussions, Reuters reported, citing people with knowledge of the matter. Ashford Prime announced a range of strategic initiatives Jan. 24, including an amended agreement with Ashford Inc. and a refined focus on the luxury segment.
The parties are seeking to reach a deal, as the deadline for submitting nominees to Ashford Prime's board is Jan. 25. The unnamed sources told the news outlet that Sessa aims to nominate its own slate of directors at the REIT's annual meeting if a deal is not reached.
Neither party was immediately available to comment on the matter, according to the report.