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 announced the pricing of a private placement of $75 million in 4.5% Convertible Senior Notes due 2026. An additional $11.25 million may be purchased at the initial buyer's discretion. The Notes will pay interest semi-annually and are convertible into common shares at an initial rate of 157.7909 shares per $1,000 principal. Proceeds will be used for general corporate purposes, including debt repayment and potential acquisitions. The offering is targeted at qualified institutional buyers under Rule 144A.
Braemar Hotels & Resorts (NYSE: BHR) announced a private placement of $50 million in Convertible Senior Notes due 2026. The offering includes a 13-day option for the initial purchaser to buy an additional $7.5 million in Notes. These senior unsecured obligations can be converted into cash, shares, or a combination at Braemar's discretion. Proceeds will be used for general corporate purposes, including paying down debt and potential acquisitions. The offering is restricted to qualified institutional buyers under Rule 144A, with no public registration.
Braemar Hotels & Resorts (NYSE: BHR) announced preliminary estimates for Q1 2021, reporting a net loss attributable to common stockholders between $(11.7) million and $(10.7) million, or $(0.29) to $(0.27) per share. Adjusted EBITDAre is estimated at $16.1 million to $17.1 million, while Adjusted FFO ranges from $9.7 million to $10.7 million. CEO Richard J. Stockton highlighted strong leisure demand at luxury properties and a positive corporate cash flow ahead of schedule. Final results will be disclosed on May 5, 2021.
Braemar Hotels & Resorts Inc. (NYSE: BHR) announced that it will release its first-quarter earnings results for the period ending March 31, 2021, after the market closes on May 5, 2021. A conference call to discuss the earnings will take place on May 6, 2021, at 11:00 a.m. ET. Investors can participate by calling (201) 493-6725, and a replay will be available until May 13, 2021. Braemar is a REIT focused on luxury hotels and resorts, enhancing investor engagement through the Ashford App, which is available for download on major app stores.
Braemar Hotels & Resorts Inc. (NYSE: BHR) reported key operating metrics for October and November 2020. The company maintained 13 hotels, with occupancy rates at 48.9% in October (down 33.6% year-over-year) and 44.9% in November (down 34.7%). Average daily rates (ADR) were $341.78 in October (down 0.9%) and $388.63 in November (up 15.3%). Revenue per available room (RevPAR) decreased 34.2% to $167.08 in October and 24.7% to $174.58 in November. Total hotel revenue decreased by 30.8% in October and 27.9% in November. Forward bookings show a 39% drop for December 2020 compared to the previous year.