Welcome to our dedicated page for Braemar Hotels & Resorts news (Ticker: BHR), a resource for investors and traders seeking the latest updates and insights on Braemar Hotels & Resorts stock.
Stay informed about the latest developments affecting Braemar Hotels & Resorts Inc. (BHR), a luxury hotel REIT with a portfolio of premium properties across sought-after destinations. This page aggregates real-time news coverage related to the company's operations, financial performance, property portfolio, and strategic initiatives in the luxury hospitality sector.
Braemar Hotels & Resorts owns and invests in upscale hotels and resorts operating under prestigious brands including Ritz-Carlton, Four Seasons, Park Hyatt, and other premium hospitality brands. As a real estate investment trust focused exclusively on the luxury segment, the company's performance is influenced by broader trends in travel demand, economic conditions, consumer spending patterns, and developments specific to high-end hospitality markets.
News coverage for Braemar Hotels & Resorts may include quarterly earnings reports, revenue performance metrics such as RevPAR (revenue per available room), property acquisitions and dispositions, financing activities, dividend announcements, management changes, renovation projects, and strategic initiatives. The company's external advisory relationship with Ashford Inc. and the performance of individual properties in key markets are also topics frequently covered in financial and hospitality industry news sources.
The luxury hotel sector is sensitive to various macroeconomic factors including employment trends, corporate travel budgets, leisure travel demand, interest rates, and overall economic growth. News about these broader industry trends, competitive dynamics, new hotel supply in key markets, and changes in consumer travel preferences can provide important context for understanding factors that may impact the company's operations and financial results.
Investors and stakeholders monitoring Braemar Hotels & Resorts can use this news feed to track property-level performance updates, management commentary on market conditions, capital allocation decisions, portfolio optimization activities, and other material developments. The aggregated news coverage offers comprehensive visibility into both company-specific announcements and relevant industry trends affecting the luxury hospitality real estate sector.
Braemar Hotels & Resorts (NYSE: BHR) announced the acquisition of the Dorado Beach, a Ritz-Carlton Reserve for $186.6 million, comprising $104 million in cash, 6 million shares of common stock, and a $54 million loan. The 96-key ultra-luxury resort is located within a prestigious 1,900-acre community in Puerto Rico, boasting a RevPAR of $1,129. The acquisition is expected to close by February 1, 2022. This strategic move aims to enhance Braemar's portfolio with high RevPAR luxury hotels, anticipating a stabilized yield of approximately 8% over the next three to five years.
Braemar Hotels & Resorts (BHR) reported a portfolio occupancy of 60.8% in November 2021, with an average daily rate (ADR) of approximately $349, resulting in a RevPAR of about $212. This marks a 151% increase from November 2020 and a 3.8% increase from November 2019. Hotel Net Income for November was $1.2 million, with Comparable Hotel EBITDA at $8.3 million, compared to negative $1.7 million in November 2020. The company is experiencing improvements in business transient demand alongside strong leisure demand at resort properties.
Braemar Hotels & Resorts (NYSE: BHR) reported preliminary portfolio occupancy of 62.5% for October, achieving an average daily rate (ADR) of $337 and a revenue per available room (RevPAR) of $211. RevPAR increased by 12% compared to September 2021 but decreased by 13% from October 2019. Hotel net income for October was $2.3 million, with Comparable Hotel EBITDA reaching $9.8 million, up 108% from September 2021. The company's urban properties reported positive Hotel EBITDA amidst improving business transient demand.
Ashford Securities, a subsidiary of Ashford, reports $21.3 million in sales of Series E and Series M Redeemable Preferred Stock for November 2021. The strong performance is attributed to institutional investments totaling around $20 million. Since the offering launch on July 9, 2021, Braemar has raised over $33 million. The company is expanding its syndicate of broker-dealers and RIA firms to enhance capital-raising efforts. The press release also warns of various risks affecting future performance, including COVID-19 impacts and compliance challenges.
Braemar Hotels & Resorts (NYSE: BHR) will ring the New York Stock Exchange Opening Bell on October 13, 2021, during its 2021 Investor & Analyst Day. This event highlights the Company's focus on luxury hotel investments. The bell ringing will be broadcast live, starting at 9:30 a.m. ET, and can be accessed via the NYSE website. The announcement also includes forward-looking statements regarding company strategy, market risks, and uncertainties affecting investment outcomes, notably the impact of COVID-19 and the ongoing SEC investigation.
Braemar Hotels & Resorts (NYSE: BHR) announced an Investor & Analyst Day on October 12, 2021, at the Park Lane Hotel in New York City. The event will include a live webcast available on the Company's website, with a one-year replay accessible after the presentation. Institutional investors and analysts can contact Jordan Jennings for attendance inquiries. This press release also includes forward-looking statements concerning the Company's strategy and potential risks affecting performance, especially in light of COVID-19.
Braemar Hotels & Resorts (BHR) announced a preliminary portfolio occupancy of 56.4% for September, with an average daily rate (ADR) of approximately $333, resulting in a RevPAR of about $188. This reflects a 166.7% increase from September 2020, yet a 20.8% decline from September 2019. For Q3 2021, an expected occupancy of 61.7% and ADR of $357 are forecasted, leading to an anticipated RevPAR of $220, which is a 172.4% year-over-year increase but 6.5% lower than Q3 2019.
Braemar Hotels & Resorts Inc. (BHR) declared quarterly and monthly cash dividends for the fourth quarter of 2021. The 4th quarter dividends include $0.3438 per share for Series B Cumulative Convertible Preferred Stock and $0.5156 for Series D Cumulative Preferred Stock, both payable on January 18, 2022. Additionally, monthly dividends for Series E Redeemable Preferred Stock will total $0.50 per share in quarterly payments, while Series M Redeemable Preferred Stock will yield $0.5125. The record dates for these dividends are set for December 31, 2021.
Braemar Hotels & Resorts (NYSE: BHR) has announced a one-year extension for its mortgage loans on Bardessono Resort & Spa and Hotel Yountville in California. The Bardessono loan now matures in August 2022, while the Hotel Yountville loan matures in May 2022. This extension reduces the company's maturing debt to only one loan totaling $67.5 million in 2022, while maintaining no debt maturities for the remainder of 2021. CEO Richard J. Stockton expressed satisfaction over this development, which strengthens their financial position.
Braemar Hotels & Resorts (NYSE: BHR) announced the schedule for its third-quarter earnings release for the period ending September 30, 2021. The earnings report will be released after market close on October 27, 2021, followed by a conference call on October 28, 2021, at 11:00 a.m. ET. Investors can listen live by calling (201) 493-6725, and a replay will be available until November 4, 2021. The event will also be available for online streaming on the company's website. Braemar is focused on investing in luxury hotels and resorts.
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