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.
Braemar Hotels & Resorts Inc. is a real estate investment trust focused on luxury urban hotels and resort properties with revenue from rooms, food and beverage, and other lodging operations. The company targets high-RevPAR assets across the United States and U.S. territories in the Caribbean and is externally advised by Ashford Hospitality Advisors LLC.
Recurring news for BHR includes quarterly operating results and hotel performance measures such as occupancy, average daily rate, RevPAR, and Hotel EBITDA. Company updates also cover monthly preferred dividends for its Series B, Series D, Series E, and Series M preferred stock, advisory-agreement matters, capital-structure disclosures, shareholder governance activity, and board or officer transition items tied to the externally advised REIT structure.
Ashford announced the conclusion of an SEC investigation into the company, stating that the SEC enforcement staff does not intend to recommend any action against Ashford, Braemar Hotels & Resorts, and Ashford Hospitality Trust. This investigation's closure is a significant relief for the companies, affirming their compliance with regulatory standards. Ashford operates in alternative asset management, focusing on real estate and hospitality sectors, providing various asset and investment management services.
Braemar Hotels & Resorts Inc. (NYSE: BHR) announced quarterly dividends for its Series B, Series D, and monthly dividends for Series E and Series M Redeemable Preferred Stocks. The Series B dividend is $0.3438 per share, while Series D is $0.5156 per share, both payable on April 15, 2022. The Series E and M dividends are set at a quarterly rate of $0.50 and $0.5125, respectively, with monthly payments scheduled starting February 15, 2022. The company will continue suspending common stock dividends into 2022 to protect liquidity.
Braemar Hotels & Resorts (NYSE: BHR) reported a preliminary portfolio occupancy of 60% for December 2021, with an average daily rate (ADR) of approximately $494, resulting in a RevPAR of about $296. This marks a 189% increase from December 2020 and a 29% increase from December 2019. For Q4 2021, occupancy is expected to be 61%, and RevPAR is projected at $240, reflecting a 163% increase from Q4 2020 and a 7% increase from Q4 2019. The company credits its luxury resorts for this strong performance, achieving the highest quarterly RevPAR in its history.
Braemar Hotels & Resorts (NYSE: BHR) announced its fourth quarter earnings release for the year ending December 31, 2021, scheduled for February 24, 2022, after market close. A conference call will follow on February 25, 2022, at 11:00 a.m. ET. Investors can participate by calling (201) 493-6725, with a replay available until March 4, 2022. The live broadcast and replay will also be accessible on the company's website. Braemar specializes in luxury hotel and resort investments as a real estate investment trust (REIT).
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.