On April 26, 2020, Douglas A. Kessler, President and Chief Executive Officer of Ashford Hospitality Trust, Inc. (the “ Company”), gave notice of his intention to voluntarily resign from his employment and all other positions he holds with the Company's advisor, Ashford Inc., and its subsidiaries, affiliated entities, and entities that it advises (including the Company) in order to pursue other professional opportunities. Mr. Kessler's resignation will be effective May 14, 2020. On April 30, 2020, the Board of Directors of the Company appointed the Company's current Chief Strategy Officer, J. Robison Hays, III, to fill the role of President and Chief Executive Officer at the Company, effective May 14, 2020.

In connection with this appointment, Mr. Hays will no longer serve as Chief Strategy Officer. Mr. Hays, age 42, has served as the Company's Chief Strategy Officer since May 2015 and prior to that served as its Senior Vice President—Corporate Finance and Strategy since 2010. He has been with the Company since 2005.

Prior to joining the Company, Mr. Hays worked in the Corporate Development office of Dresser, Inc., a Dallas-based oil field service and manufacturing company, where he focused on mergers, acquisitions and strategic initiatives. Before working at Dresser, Mr. Hays was a member of the Merrill Lynch Global Power & Energy Investment Banking Group based in Texas.