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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) reported preliminary results for Q3 2022, expecting an occupancy rate of approximately 71%. The average daily rate is anticipated to be around $403, leading to a RevPAR of $288, reflecting a 19% increase year-over-year and compared to Q3 2019. In September 2022, RevPAR surged 16% against September 2019 metrics, while August and July also showed notable increases. CEO Richard J. Stockton highlighted the outperformance amid strong leisure demand, with average daily rates up 36% versus Q3 2019, signaling continued growth potential.
On October 7, 2022, Braemar Hotels & Resorts (NYSE: BHR) announced quarterly dividends for the fourth quarter ending December 31, 2022. The Board declared cash dividends of $0.3438 per share for the 5.5% Series B Preferred Stock and $0.5156 for the 8.25% Series D Preferred Stock, both payable on January 17, 2023. Additionally, the Series E Redeemable Preferred Stock will pay a monthly dividend totaling $0.4844 per share. As of September 30, 2022, there were 8,880,432 shares of Series E and 1,066,934 shares of Series M issued and outstanding.
Braemar Hotels & Resorts (NYSE: BHR) declared a quarterly cash dividend of $0.01 per share for Q3 ending September 30, 2022. This amounts to an annual rate of $0.04 per share, payable on October 17, 2022, to stockholders on record as of September 30, 2022. As a REIT, Braemar focuses on luxury hotels and resorts. The announcement highlights the company's commitment to returning value to shareholders amidst economic uncertainties.
Braemar Hotels & Resorts Inc. (BHR) announced the upcoming release of its third-quarter earnings for the period ended September 30, 2022. The earnings report will be issued after market close on November 2, 2022. A conference call will follow on November 3, 2022, at 12:00 p.m. ET, with a replay available through November 10, 2022. Braemar specializes in investing in luxury hotels and resorts, positioning itself within the competitive REIT sector.
Braemar Hotels & Resorts Inc. (NYSE: BHR) reported an approximate occupancy of 71% for Q2 2022, with an average daily rate (ADR) of $442, leading to a RevPAR of $315. This RevPAR represents a 43% increase from Q2 2021 and a 28% increase from Q2 2019. The results indicate strong performance amid a rebound in leisure demand, with 13 of 15 hotels achieving ADRs above 2019 levels. The Company remains optimistic about future growth opportunities, driven by its luxury portfolio and recovering corporate demand.
Braemar Hotels & Resorts (NYSE: BHR) has declared multiple cash dividends for its preferred stocks for the third quarter ending September 30, 2022. The dividends include $0.3438 per share for Series B Cumulative Convertible Preferred Stock and $0.5156 for Series D Cumulative Preferred Stock, both payable on October 17, 2022. Additionally, monthly dividends of $0.4844 for Series E Redeemable Preferred Stock and $0.5188 for Series M Redeemable Preferred Stock, with payments scheduled until October 17, 2022. The announcements reflect the company's continued commitment to return value to shareholders.
Braemar Hotels & Resorts (NYSE: BHR) will release its second-quarter earnings for the period ending June 30, 2022, after market close on August 3, 2022. A conference call is scheduled for August 4, 2022, at 11:00 a.m. ET. Investors can join the call by dialing (201) 389-0920, with a replay available until August 11, 2022, at (412) 317-6671 using confirmation number 13730709. The live broadcast will be accessible on Braemar's website at www.bhrreit.com. Braemar specializes in investing in luxury hotels and resorts.
Braemar Hotels & Resorts (NYSE: BHR) announced that CEO Richard Stockton will present at the Nareit's REITweek 2022 Investor Conference on June 7, 2022, at 3:00 p.m. ET. The presentation will be broadcast live on the Company's website, www.bhrreit.com, with a replay available for 90 days post-event. Braemar specializes in investing in luxury hotels and resorts.
Braemar Hotels & Resorts announced a quarterly cash dividend of $0.01 per diluted share for Q2 2022, ending on June 30, 2022. This dividend, which translates to an annual rate of $0.04 per share, will be payable on July 15, 2022, to stockholders of record as of June 30, 2022. Braemar operates as a real estate investment trust (REIT), focusing on luxury hotels and resorts. The press release also includes forward-looking statements regarding the company's strategic plans, which are subject to various risks and uncertainties, primarily related to market conditions and operational challenges.
Ashford Securities, a subsidiary of Ashford, raised over $100 million for Braemar Hotels & Resorts through its Series E and Series M Redeemable Preferred Stock Offering. The offering, launched on July 9, 2021, included participation from 44 broker-dealers and institutions. Braemar plans to sell up to $500 million in total preferred stock. Braemar has already acquired two luxury hotels, enhancing its strategy to invest in premium urban and resort markets. C. Jay Steigerwald III highlighted the success of the capital raise within the first year of offering.
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