Braemar Hotels & Resorts Inc. filings document the regulatory record of a Maryland REIT that owns luxury hotel and resort assets and reports as a public company with NYSE-listed common stock and listed Series B and Series D preferred stock. Its Form 8-K filings include operating and financial results, hotel performance metrics, Regulation FD dividend releases, material agreements, and other event disclosures.
The filing record also covers the externally advised structure involving Braemar Hospitality Limited Partnership, Braemar TRS Corporation, Ashford Inc., and Ashford Hospitality Advisors LLC. Disclosures address the advisory agreement, preferred-stock dividend treatment across Series B, Series D, Series E, and Series M securities, liquidation-value reporting for non-traded redeemable preferred stock, governance matters, officer-transition reporting, exhibits, and Inline XBRL cover-page data.
Braemar Hotels & Resorts Inc. reports Schedule 13G/A ownership details for its 5.50% Series B Cumulative Convertible Preferred Stock (CUSIP 10482B200). The filing shows Virtus InfraCap U.S. Preferred Stock ETF holds 601,124 shares, representing 19.52% of that class as reported.
The shares are reported as held in accounts of Infrastructure Capital Advisors, LLC clients; Infrastructure Capital Advisors disclaims beneficial ownership except for its pecuniary interest. The filing is signed on 05/15/2026.
Braemar Hotels & Resorts released an investor presentation highlighting solid first-quarter 2026 performance in a stable but selective lodging market. For comparable hotels, average daily rate rose to $745 and RevPAR to $480.8, both up 5.7% year over year, while total hotel revenue increased 5.4% to $211.6 million.
Comparable Hotel EBITDA grew 13.7% to $75.5 million, expanding margins to 35.7% from 33.1%, with resorts clearly outperforming urban properties. Adjusted funds from operations reached $0.52 per diluted share, a 30% increase and the company’s highest quarterly AFFO per share in five years.
Braemar emphasizes its concentration in luxury and upper-upscale hotels and resorts, with Ritz-Carlton-branded properties driving trailing-twelve-month Hotel EBITDA. The company reported net debt at 43.4% of gross assets and described a manageable debt maturity profile, supported by ongoing capital investment of $12.1 million during the quarter.
Braemar Hotels & Resorts Inc. received notice from activist holder Al Shams Investments Limited that it intends to seek election of new directors at the company’s 2026 annual meeting.
The participants state they beneficially own 6,513,000 shares and plan to file a definitive Schedule 14A and a WHITE Universal Proxy Card to solicit shareholder proxies.
Al Shams Investments Ltd and Wafic Rida Said filed an amended Schedule 13D for Braemar Hotels & Resorts Inc., reporting beneficial ownership of 6,513,000 shares of common stock, or 9.55% of the class. They sent a May 8, 2026 letter to Braemar’s independent directors urging a pause on individual hotel asset sales and stating that ASIL intends to nominate alternative directors at the 2026 Annual Meeting of Stockholders. The filing emphasizes their stated lack of confidence in the current Board’s oversight and calls for shareholders to have an opportunity to elect new directors.
Braemar Hotels & Resorts Inc. reported Q1 2026 total hotel revenue of $208.98M, down from $215.82M a year earlier, largely reflecting the prior-year sale of two hotels. Despite lower revenue, operating income rose to $39.62M from $36.74M as hotel operating costs and property taxes declined.
Net income improved to $18.03M from $10.67M, and net income attributable to common stockholders swung to a profit of $4.90M from a loss of $2.55M, or $0.07 per diluted share versus $(0.04) last year. Operating cash flow increased to $21.95M, while cash used for investing and financing totaled $11.88M and $28.16M, respectively, driven in part by $17.01M of preferred stock redemptions.
Cash, cash equivalents and restricted cash were $148.74M at March 31, 2026, compared with $166.83M at the prior year-end. Total indebtedness carried value was about $1.11B, and the company stated it was in compliance with all debt covenants. Braemar also had outstanding investor-initiated redemption requests of approximately $45.7M for Series E and $1.0M for Series M preferred stock.
Braemar Hotels & Resorts reported a profitable first quarter of 2026 and continued progress on its strategic review. Net income attributable to common stockholders was $4.9 million, or $0.07 per diluted share, compared with a loss a year earlier. Adjusted FFO reached $0.52 per diluted share, while Adjusted EBITDAre was $66.5 million. Comparable RevPAR for all hotels rose to $481, up 5.7%, driven by a 5.7% increase in ADR to $745 with essentially flat occupancy at 64.5%. Comparable Hotel EBITDA climbed to $75.5 million, a 13.7% increase, with margins improving to 35.7%.
The company ended the quarter with $93.4 million in cash and $55.4 million in restricted cash, and net debt to gross assets of 43.4%. It also agreed to sell the 193-room Park Hyatt Beaver Creek for $176 million, representing a 4.6% cap rate on trailing 12‑month net operating income. Management reiterated that no 2026 common dividend policy has been set while an ongoing company sale process could lead to asset sales and distributions of net proceeds after obligations are met.
Braemar Hotels & Resorts Inc. has agreed to sell the 193-room Park Hyatt Beaver Creek Resort & Spa in Colorado for $176 million in cash, or $912,000 per room. The buyer has provided a $6.5 million non-refundable deposit, and closing is expected in the second quarter of 2026, subject to customary conditions.
The company plans to use net proceeds to redeem its outstanding 4.50% Convertible Senior Notes due June 2026 and for general corporate purposes. The price reflects a 5.1% capitalization rate on $9.0 million of hotel net operating income for the twelve months ended December 31, 2025, based on unaudited data.
Braemar Hotels & Resorts Inc. files an amendment to its annual report to add detailed 2025 Part III information on directors, executive compensation, ownership and related-party governance. No financial statements are changed.
The filing lists the board and committee structure, noting independent chairs for audit, compensation, nominating and related party committees. As an externally advised REIT, Braemar’s executives are employees of Ashford Inc.; Braemar pays Ashford a $29.2 million 2025 advisory fee, from which executive salaries and bonuses are funded. Braemar itself provides equity-based and deferred cash incentives, including 2026 deferred cash awards such as $5.6 million for CEO Richard Stockton plus a discretionary $3.5 million special award.
The company reports 2025 business objectives—including revenue, Adjusted EBITDAre, asset sales, renovations, liquidity and investor outreach—were all achieved. Tables disclose director and officer pay, stock ownership (management and major holders each around mid‑single‑digit percentages of common shares) and extensive conflict-of-interest and related‑party review policies for dealings with Ashford Inc. and affiliates.
Braemar Hotels & Resorts Inc. declared monthly and partial quarterly cash dividends for its preferred stock series for April 2026. The Series B 5.5% cumulative convertible preferred dividend is $0.1146 per diluted share and the Series D 8.25% cumulative preferred dividend is $0.17187 per diluted share, each representing one-third of the quarterly amount to be paid on July 15, 2026 to holders of record on June 30, 2026. The Series E redeemable preferred dividend is $0.15625 per share, and the Series M redeemable preferred dividends are $0.17917 per share for certain CUSIPs and $0.17708 per share for the remaining CUSIPs, each payable on May 15, 2026 to stockholders of record on April 30, 2026.
Braemar Hotels & Resorts Inc. disclosed that its external Advisor, Ashford Inc. and Ashford Hospitality Advisors LLC, has elected to extend the term of Braemar’s Fifth Amended and Restated Advisory Agreement.
The Advisor exercised its contractual right under Section 12.2 to add a new ten-year term, running from January 24, 2027 through January 24, 2037. All existing terms, conditions, rights, and obligations under the Advisory Agreement will continue during this extended period, although the parties retain a right under Section 6.6 to renegotiate the Base Fee and Incentive Fee amounts. Related letter agreements from August 26, 2025 and December 22, 2025 remain in effect.