阿什福德信托美股招股说明书(2026-04-10版)

(Liquidation Preference $25.00 per share) This prospectus supplement no. 27 (this “Supplement”) is part of and should be read in conjunction with the prospectus of AshfordHospitality Trust, Inc., dated February 7, 2025 (as supplemented to date, the “Prospectus”). Unless otherwise defined herein,capitalized terms used in this Supplement shall have the same meanings as in the Prospectus. When used in this Supplement, the terms“our Company,” “we,” “us,” or “our” refer to Ashford Hospitality Trust, Inc., a Maryland corporation, and, as the context may require, We have attached to this Supplement our current report on Form 8-K filed April 10, 2026. The attached information updates andsupplements, and should be read together with, the Prospectus. Investing in our securities involves risks. The Preferred Stock has no public trading market and has limited liquidity and mayat times be illiquid. The Preferred Stock has not been rated and investors will be subject to the risks associated with investingin non-rated securities. See “Risk Factors” on page 19 of the Prospectus, and under similar headings in any amendments or Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of thesesecurities or determined if the Prospectus is truthful or complete. Any representation to the contrary is a criminal offense. UNITED STATESSECURITIES AND EXCHANGE COMMISSION FORM 8-KCURRENT REPORT PURSUANT TO SECTION 13 OR 15(D) OF THESECURITIES EXCHANGE ACT OF 1934 Date of Report (date of earliest event reported): April 7, 2026 ASHFORD HOSPITALITY TRUST, INC.(Exact name of registrant as specified in its charter) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of thefollowing provisions: ☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of thischapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with anynew or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ITEM 2.01COMPLETION OF ACQUISITION OR DISPOSITION OF ASSETS. On April 7, 2026, Palm Beach Florida Hotel and Office Building Limited Partnership, an indirect wholly owned subsidiary of AshfordHospitality Trust, Inc. (the “Company”), completed the sale of the Embassy Suites by Hilton Palm Beach Gardens PGA Boulevardlocated in Palm Beach Gardens, Florida pursuant to an Agreement of Purchase and Sale, dated as of February 25, 2026, by andbetween Palm Beach Florida Hotel and Office Building Limited Partnership, as seller, and PBG Embassy Partners, LLC, as purchaser, ITEM 9.01FINANCIAL STATEMENTS AND EXHIBITS. (b)The unaudited pro forma financial information for the Company as of and for the year ended December 31, 2025, is attachedhereto as Exhibit 99.1 and is incorporated by reference herein. (d)Exhibits Exhibit Number 99.1Unaudited Pro Forma Financial Information of Ashford Hospitality Trust, Inc.101Inline Interactive Data Files. SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its ASHFORD HOSPITALITY TRUST, INC. By:/s/ Justin CoeJustin Coe Dated: April 10, 2026