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.
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.
Braemar Hotels & Resorts (BHR) reported a preliminary portfolio occupancy of 59.2% for August 2021, with an average daily rate (ADR) of $345.88, resulting in a revenue per available room (RevPAR) of $204.69. This RevPAR marks a 149% increase compared to August 2020 but a 12% decrease from August 2019. The company's hotel net income was $0.9 million, with comparable hotel EBITDA at $9.2 million, down 2% from August 2019. Positive performance was noted at all resorts, with some properties achieving record ADRs. Management remains cautious about COVID-19 and its impacts.
Axos Financial, Inc. (NYSE: AX) announced the election of Stefani Carter as an independent director, effective August 31, 2021. Carter brings a wealth of experience in legal, corporate governance, and public company board service. Chairman Paul Grinberg expressed confidence that her insights will benefit the company's growth. Carter, an attorney since 2005, has held various legal roles and has served in the Texas House of Representatives. Axos Financial continues its transformation from a consumer-focused bank to a diversified financial services entity.
Braemar Hotels & Resorts (NYSE: BHR) reported July portfolio occupancy at 69.6%, with an average daily rate (ADR) of $387, leading to a RevPAR of $269. This represents a 197% increase from July 2020 and a 14% increase from July 2019. The CEO, Richard J. Stockton, highlighted strong leisure demand and forecasted total revenues for August and September to exceed 30% compared to 2019. However, the company acknowledges risks affecting future performance, including COVID-19 impacts and market volatility.
Braemar Hotels & Resorts (BHR) has successfully acquired the 138-room Mr. C Beverly Hills Hotel in Los Angeles for $77.9 million. The deal includes $65.4 million for the hotel and $12.5 million for five luxury condominiums adjacent to it, with a cost of $474,000 per hotel key. Funding was sourced through approximately $30 million cash, 2.5 million OP units, 500,000 warrants at a $6 strike price, and a $30 million mortgage loan. This strategic acquisition aims to enhance BHR's luxury portfolio.
Ashford Securities LLC, a subsidiary of Ashford (NYSE: AINC), announced strong investment interest for its Braemar Hotels and Resorts Redeemable Non-traded Series E and Series M Preferred Stock. Launched on July 9, 2021, the initiative raised over $2.1 million, including $1.6 million from syndicate firms and $500,000 from personal investors. President C. Jay Steigerwald III expressed enthusiasm about the demand and emphasized long-term growth prospects in partnerships with stakeholders.
Braemar Hotels & Resorts (NYSE: BHR) announced preliminary second quarter results for 2021, reporting a net loss attributable to common stockholders of approximately $(16.3) million to $(14.9) million, equating to $(0.34) to $(0.31) per share. Adjusted EBITDAre is estimated between $18.9 million and $20.3 million, while Adjusted FFO is projected at $12.3 million to $13.7 million. The company attributes positive results to strong leisure demand and profit margins from luxury resorts. Final results will be released on July 29, 2021.