SECURITIES AND EXCHANGE COMMISSION

FORM 8-K
CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934

Date of Report (date of earliest event reported): January 20, 2005

ASHFORD HOSPITALITY TRUST, INC.

Registrant’s telephone number, including area code: (972) 490-9600

Check the appropriate box if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Table of Contents

ITEM 7.01 REGULATION FD DISCLOSURE

On January 20, 2005, Ashford Hospitality Trust, Inc. (the “Company”) issued a press release announcing that it closed on the sale of a 56,000-square-foot office building in suburban Philadelphia, Pennsylvania, to Keystone Property Fund I, an affiliate of Keystone Property Group, for $3,050,000 in cash.

ITEM 9.01. FINANCIAL STATEMTENTS AND EXHIBITS

Exhibit
Number

99.1 Press Release of the Company, dated January 20, 2005, furnished under Item 7.01, announcing the sale of an office building.

SIGNATURE

Pursuant to the requirements of Section 12 of the Securities and Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Dated: January 20, 2005