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Braemar Hotels & Resorts Inc. (NYSE: BHR) announced a plan to enhance shareholder value through strategic initiatives, including the sale of Hilton Torrey Pines for $165 million, repayment of 2024 debt maturities, a preferred share redemption program, and a common share buyback authorization. The sale of Hilton La Jolla Torrey Pines at a 7.2% capitalization rate is expected to be completed by August 2024. The company is also evaluating the sale of two more hotels, aiming to improve capital structure and financial flexibility.