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. (NYSE: BHR) is a real estate investment trust (REIT) specializing in the acquisition and management of high revenue per available room (RevPAR) luxury, upper-upscale, and upscale hotels. Operating across major U.S. states such as California, Texas, Washington, Florida, and Illinois, as well as in Washington, D.C. and St. Thomas, U.S. Virgin Islands, Braemar's portfolio is diverse and strategically located in key gateway and resort areas.
The company's core business involves direct hotel investments, generating revenues from room bookings, food and beverage services, and other hotel-related amenities. Braemar's properties proudly operate under renowned brand names including Marriott, Hilton, Courtyard, and Renaissance, among others.
Recent achievements highlight Braemar's dynamic approach to capital management and strategic growth. Notably, the company has successfully extended mortgage loans for significant properties like the Ritz-Carlton Lake Tahoe and the Four Seasons Resort Scottsdale, ensuring favorable financial terms and enhanced liquidity. Additionally, Braemar has secured a new $62 million mortgage financing for the Ritz-Carlton Reserve Dorado Beach, reflecting its ability to capitalize on favorable lending conditions.
Braemar's financial condition remains robust, with strategic initiatives such as the planned sale of the Hilton La Jolla Torrey Pines and a new stock repurchase program aimed at enhancing shareholder value. The company also focuses on liability management by redeeming preferred stocks and refinancing debts, further solidifying its financial flexibility.
Partnering with Ashford Inc., Braemar benefits from external advisory expertise, bolstering its strategic and operational effectiveness. The company's commitment to maintaining high-quality assets and optimizing its capital structure underscores its long-term vision of delivering sustained value to shareholders.
For the latest updates, news, and financial results, visit Braemar Hotels & Resorts Inc.
Braemar Hotels & Resorts (NYSE: BHR) has announced quarterly and monthly dividends for its various stock series for the third quarter of 2024. For the common stock, a quarterly dividend of $0.05 per share will be paid on October 15, 2024, to shareholders of record as of September 30, 2024. Series B and Series D preferred stocks will receive quarterly dividends of $0.3438 and $0.5156 per share, respectively, on the same payment date. Monthly dividends are also declared for Series E and Series M Redeemable Preferred Stocks, with payments scheduled for August 15, September 16, and October 15, 2024. The dividends range from $0.15625 to $0.17708 per share depending on the series.
Braemar Hotels & Resorts (NYSE: BHR) has entered a cooperation agreement with Blackwells Capital. Blackwells will withdraw its proxy solicitation and vote in favor of Braemar's nominees and proposals at the 2024 Annual Meeting. Both parties will release all pre-settlement legal claims and dismiss corresponding actions. Blackwells commits to purchasing 3.5 million Braemar shares, financed partly by Braemar. Additionally, Braemar will add an independent director with Blackwells' input. Blackwells will adhere to a multi-year standstill and voting commitments. This agreement aims to enhance Braemar's capital structure and maximize shareholder value.
Braemar Hotels & Resorts (NYSE: BHR) announces the release date for its second-quarter earnings results, set for July 31, 2024, after market close.
A conference call will follow on August 1, 2024, at 11:00 a.m. ET, accessible by dialing (646) 960-0284. A replay will be available until August 8, 2024, by calling (609) 800-9909 and using the confirmation number 2925607.
The live broadcast and a subsequent replay will also be accessible on the company's website, www.bhrreit.com.
Braemar focuses on investing in luxury hotels and resorts.
Braemar Hotels & Resorts (NYSE: BHR) has launched www.ExpelBlackwells.com to counteract misinformation from activist investor Blackwells Capital ahead of the 2024 Annual Meeting on July 30, 2024.
The website aims to provide shareholders with details about Blackwells' misleading campaign and discourage them from supporting Blackwells' nominees.
Monty J. Bennett, Founder & Chairman of Braemar, emphasizes the company's commitment to shareholders' best interests, suggesting Blackwells aims to seize control of the board without paying a premium.
Shareholders are advised to ignore proxy materials from Blackwells, as their nominations do not meet the company's requirements.
Braemar Hotels & Resorts (NYSE: BHR) announced that Blackwells Capital's attempted withhold proxy campaign at Ashford Hospitality Trust failed, with only 7% of outstanding shares voting on the Blackwells proxy card. Ashford Trust confirmed that seven out of nine nominees received a majority vote, and the remaining two were re-appointed by the Board. Braemar reminds shareholders to disregard any proxy materials from Blackwells for the 2024 Annual Meeting on July 30, 2024, as their nominations do not meet the minimum requirements.
Braemar Hotels & Resorts invests in luxury hotels and resorts as a real estate investment trust (REIT).
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.
FAQ
What is the current stock price of Braemar Hotels & Resorts (BHR)?
What is the market cap of Braemar Hotels & Resorts (BHR)?
What is Braemar Hotels & Resorts Inc.?
Where are Braemar's properties located?
Under which brands do Braemar's hotels operate?
What revenue streams does Braemar generate?
What recent financial achievements has Braemar announced?
How is Braemar enhancing shareholder value?
Who advises Braemar Hotels & Resorts Inc.?
What is the stock symbol for Braemar Hotels & Resorts Inc.?
How can I stay updated on Braemar's latest news and financial results?
What strategic initiatives has Braemar taken recently?
