Braemar (NYSE: BHR) extends $43.4M Ritz-Carlton Lake Tahoe mortgage
Rhea-AI Filing Summary
Braemar Hotels & Resorts Inc. has extended its $43.4 million mortgage loan secured by the 170-room Ritz-Carlton Lake Tahoe. The loan’s initial maturity date of July 15, 2026 has been pushed to October 15, 2026, giving the company additional time before repayment is due.
The extended loan is priced at SOFR + 325 basis points, and Braemar also has a further three-month extension option on the same terms at its discretion. Management notes this loan represents the company’s only remaining 2026 debt maturity and indicates that, once it refinances this loan later in the year, it expects to have no other final maturities until 2028.
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Insights
Extending the Tahoe mortgage modestly smooths Braemar’s near-term debt profile.
Braemar extended its $43.4 million mortgage on the 170-room Ritz-Carlton Lake Tahoe to a new maturity on October 15, 2026, at a floating rate of SOFR plus 325% basis points. A further three‑month extension is available on the same terms.
Management highlights that this is its only remaining 2026 maturity and indicates that, after ultimately refinancing this loan later in the year, no other final maturities would fall before 2028. This suggests a smoother debt maturity schedule, though the eventual refinance terms and broader market conditions will determine the longer-term impact.
8-K Event Classification
2 items: 7.01, 9.01
2 items
Item 7.01
Regulation FD Disclosure
Disclosure
Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Key Figures
Mortgage loan amount: $43.4 million
Original loan maturity: July 15, 2026
New loan maturity: October 15, 2026
+2 more
5 metrics
Mortgage loan amount
$43.4 million
Secured by the 170-room Ritz-Carlton Lake Tahoe
Original loan maturity
July 15, 2026
Initial mortgage maturity date before extension
New loan maturity
October 15, 2026
Extended mortgage maturity date
Interest rate spread
SOFR + 325 basis points
Pricing on the extended mortgage loan
Additional extension option
Three months
Further maturity extension available at company’s discretion
Key Terms
mortgage loan, SOFR, basis points, maturity date, +2 more
6 terms
mortgage loan financial
"extended its $43.4 million mortgage loan secured by the 170-room Ritz-Carlton Lake Tahoe"
A mortgage loan is a long-term loan used to buy or refinance real estate, where the property itself serves as the lender’s assurance that the debt will be repaid; if the borrower stops paying, the lender can take the property. It matters to investors because mortgages shape bank and investor income, influence housing prices and consumer spending, and carry credit and interest-rate risk—think of it as a long-term IOU tied directly to a house.
SOFR financial
"The extended loan is priced at SOFR + 325 basis points"
The Secured Overnight Financing Rate (SOFR) is a market benchmark that measures the cost of borrowing cash overnight using U.S. Treasury securities as collateral. Investors watch SOFR because it acts like a speedometer for short-term interest costs—affecting loan rates, bond yields and the pricing of interest-rate contracts—so movements change borrowing expenses, cash returns and the value of interest-sensitive investments.
basis points financial
"The extended loan is priced at SOFR + 325 basis points"
Basis points are a way to measure small changes in interest rates or percentages, where one basis point equals 0.01%. For example, if a loan's interest rate increases by 50 basis points, it's gone up by 0.50%. They help people understand tiny differences in rates that can add up over time, making financial comparisons clearer.
maturity date financial
"The loan had an initial maturity date of July 15, 2026 and now has a maturity date of October 15, 2026"
The maturity date is the specific day when a loan, bond, or investment reaches its full term and the borrower must repay the borrowed amount in full. It is important for investors because it indicates when they will receive their initial money back and can plan their future financial steps accordingly. Think of it as the due date for a loan or the day a gift card or coupon expires.
real estate investment trust (REIT) financial
"Braemar Hotels & Resorts Inc. (NYSE: BHR) is a real estate investment trust (REIT) focused on the high-growth luxury hotel and resort sector"
A real estate investment trust (REIT) is a company that owns, operates, or finances income-generating real estate like shopping malls, apartments, or office buildings. Investors buy shares of the REIT, making it easy for people to invest in real estate without buying property themselves, and it often pays regular dividends from the rent it collects.
forward-looking statements regulatory
"Certain statements and assumptions in this press release contain or are based upon "forward-looking" information"
Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What did Braemar Hotels & Resorts (BHR) announce about the Ritz-Carlton Lake Tahoe loan?
Braemar extended its $43.4 million mortgage loan secured by the 170-room Ritz-Carlton Lake Tahoe. The company moved the maturity from July 15, 2026 to October 15, 2026, with the extended loan priced at SOFR plus 325 basis points.
How has the maturity date changed on Braemar’s Ritz-Carlton Lake Tahoe mortgage?
The loan’s maturity was pushed from July 15, 2026 to October 15, 2026. Braemar also negotiated an additional three-month extension option, at its discretion, on the same terms, potentially giving it more time to refinance the debt.
What interest rate applies to Braemar’s extended $43.4 million Tahoe mortgage loan?
The extended Ritz-Carlton Lake Tahoe mortgage is priced at SOFR plus 325 basis points. This means the interest cost floats with the Secured Overnight Financing Rate, with a 3.25 percentage-point spread added to that benchmark rate.
How does this loan extension affect Braemar Hotels & Resorts’ 2026 debt maturities?
Management states this mortgage represents Braemar’s only remaining 2026 debt maturity. They indicate that once the company refinances this loan later in the year, it expects to have no other final debt maturities until 2028, simplifying its near-term maturity schedule.
Does Braemar Hotels & Resorts have flexibility for another extension on the Tahoe mortgage?
Yes. In addition to extending the maturity to October 15, 2026, Braemar obtained a further three-month extension option. The company can exercise this at its discretion, and the extension would keep the same SOFR plus 325 basis-point pricing.
What type of company is Braemar Hotels & Resorts and what does it focus on?
Braemar Hotels & Resorts is a real estate investment trust (REIT) focused on luxury hotels and resorts. Its portfolio targets high-performance luxury urban and resort properties across the United States and U.S. territories in the Caribbean, emphasizing disciplined asset management.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (date of earliest event reported): June 29, 2026
(Exact name of registrant as specified in its charter)
| (State or other jurisdiction of incorporation or organization) | (Commission File Number) | (IRS employer identification number) | ||||||||||||
| (Address of principal executive offices) | (Zip code) | |||||||||||||
Registrant’s telephone number, including area code: (972 ) 490-9600
Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||||||||
ITEM 7.01 REGULATION FD DISCLOSURE.
On June 29, 2026, Braemar Hotels & Resorts Inc. (the “Company”) issued a press release announcing that it has successfully extended its mortgage loan secured by the 170-room Ritz-Carlton Lake Tahoe. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
The information in this Item 7.01 of this Form 8-K shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, except as shall be expressly set forth by specific reference in such filing.
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS.
(d) Exhibits
Exhibit Number Description
99.1 Press Release of the Company, dated June 29, 2026
101 Inline Interactive Data Files.
104 Cover Page Interactive Data File (formatted in Inline XBRL and contained in Exhibit 101)
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| BRAEMAR HOTELS & RESORTS INC. | ||||||||
| Dated: June 29, 2026 | By: | /s/ Jim Plohg | ||||||
| Jim Plohg | ||||||||
| Executive Vice President, General Counsel & Secretary | ||||||||
EXHIBIT 99.1
NEWS RELEASE
| Contact: | Justin Coe | Allison Beach | Joseph Calabrese | ||||||||
| Chief Accounting Officer | Media Contact | Financial Relations Board | |||||||||
| 972-778-9795 | abeach@ashfordinc.com | 212-827-3772 | |||||||||
BRAEMAR HOTELS & RESORTS EXTENDS RITZ-CARLTON LAKE TAHOE MORTGAGE LOAN
DALLAS, June 29, 2026 – Braemar Hotels & Resorts Inc. (NYSE: BHR) (“Braemar” or the “Company”) announced today that it has extended its $43.4 million mortgage loan secured by the 170-room Ritz-Carlton Lake Tahoe. The loan had an initial maturity date of July 15, 2026 and now has a maturity date of October 15, 2026. The extended loan is priced at SOFR + 325 basis points. A further three-month maturity extension is also available at the Company’s discretion on the same terms.
“We are pleased to announce the extension of this mortgage loan, which addresses our only remaining 2026 maturity,” said Richard Stockton, President and Chief Executive Officer. “When we ultimately refinance this loan later this year, the Company will have no other final maturities until 2028. Debt financing markets continue to remain constructive, and we are hopeful that these financing terms can be improved even further.”
About Braemar Hotels & Resorts
Braemar Hotels & Resorts Inc. (NYSE: BHR) is a real estate investment trust (REIT) focused on the high-growth luxury hotel and resort sector. The Company targets high-performance luxury urban and resort properties. Its industry-leading portfolio features luxury properties across the United States and the U.S. territories in the Caribbean. Braemar leverages deep industry expertise and disciplined asset management to drive outsized performance.
Forward-Looking Statements
Certain statements and assumptions in this press release contain or are based upon "forward-looking" information and are being made pursuant to the safe harbor provisions of the federal securities regulations. Forward-looking statements are generally identifiable by use of forward-looking terminology such as "may," "will," "should," "potential," "intend," "expect," "anticipate," "estimate," "approximately," "believe," "could," "project," "predict," or other similar words or expressions. Additionally, statements regarding the following subjects are forward-looking by their nature: our business and investment strategy; anticipated or expected purchases, sales or dispositions of assets; our projected operating results; completion of any pending transactions; our ability to restructure existing property-level indebtedness; our ability to secure additional financing to enable us to operate our business; our understanding of our competition; projected capital expenditures; and the impact of technology on our operations and business. Such forward-looking statements are based on our beliefs, assumptions, and expectations of our future performance taking into account all information currently known to us. These beliefs, assumptions, and expectations can change as a result of many potential events or factors, not all of which are known to us. If a change occurs, our business, financial condition, liquidity, results of operations, plans, and other objectives may vary materially from those expressed in our forward-looking statements. You should carefully consider this risk when you make an investment decision concerning our securities. These and other risk factors are more fully discussed in the Company's filings with the SEC.
The forward-looking statements included in this press release are only made as of the date of this press release. Investors should not place undue reliance on these forward-looking statements. We will not publicly update or revise any forward-looking statements, whether as a result of new information, future events or circumstances, changes in expectations or otherwise except to the extent required by law.