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.
Ashford Securities, a subsidiary of Ashford, reports $21.3 million in sales of Series E and Series M Redeemable Preferred Stock for November 2021. The strong performance is attributed to institutional investments totaling around $20 million. Since the offering launch on July 9, 2021, Braemar has raised over $33 million. The company is expanding its syndicate of broker-dealers and RIA firms to enhance capital-raising efforts. The press release also warns of various risks affecting future performance, including COVID-19 impacts and compliance challenges.
Braemar Hotels & Resorts (NYSE: BHR) will ring the New York Stock Exchange Opening Bell on October 13, 2021, during its 2021 Investor & Analyst Day. This event highlights the Company's focus on luxury hotel investments. The bell ringing will be broadcast live, starting at 9:30 a.m. ET, and can be accessed via the NYSE website. The announcement also includes forward-looking statements regarding company strategy, market risks, and uncertainties affecting investment outcomes, notably the impact of COVID-19 and the ongoing SEC investigation.
Braemar Hotels & Resorts (NYSE: BHR) announced an Investor & Analyst Day on October 12, 2021, at the Park Lane Hotel in New York City. The event will include a live webcast available on the Company's website, with a one-year replay accessible after the presentation. Institutional investors and analysts can contact Jordan Jennings for attendance inquiries. This press release also includes forward-looking statements concerning the Company's strategy and potential risks affecting performance, especially in light of COVID-19.
Braemar Hotels & Resorts (BHR) announced a preliminary portfolio occupancy of 56.4% for September, with an average daily rate (ADR) of approximately $333, resulting in a RevPAR of about $188. This reflects a 166.7% increase from September 2020, yet a 20.8% decline from September 2019. For Q3 2021, an expected occupancy of 61.7% and ADR of $357 are forecasted, leading to an anticipated RevPAR of $220, which is a 172.4% year-over-year increase but 6.5% lower than Q3 2019.
Braemar Hotels & Resorts Inc. (BHR) declared quarterly and monthly cash dividends for the fourth quarter of 2021. The 4th quarter 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 January 18, 2022. Additionally, monthly dividends for Series E Redeemable Preferred Stock will total $0.50 per share in quarterly payments, while Series M Redeemable Preferred Stock will yield $0.5125. The record dates for these dividends are set for December 31, 2021.
Braemar Hotels & Resorts (NYSE: BHR) has announced a one-year extension for its mortgage loans on Bardessono Resort & Spa and Hotel Yountville in California. The Bardessono loan now matures in August 2022, while the Hotel Yountville loan matures in May 2022. This extension reduces the company's maturing debt to only one loan totaling $67.5 million in 2022, while maintaining no debt maturities for the remainder of 2021. CEO Richard J. Stockton expressed satisfaction over this development, which strengthens their financial position.
Braemar Hotels & Resorts (NYSE: BHR) announced the schedule for its third-quarter earnings release for the period ending September 30, 2021. The earnings report will be released after market close on October 27, 2021, followed by a conference call on October 28, 2021, at 11:00 a.m. ET. Investors can listen live by calling (201) 493-6725, and a replay will be available until November 4, 2021. The event will also be available for online streaming on the company's website. Braemar is focused on investing in luxury hotels and resorts.
Braemar Hotels & Resorts (BHR) reported a preliminary portfolio occupancy of 59.2% for August 2021, with an average daily rate (ADR) of $345.88, resulting in a revenue per available room (RevPAR) of $204.69. This RevPAR marks a 149% increase compared to August 2020 but a 12% decrease from August 2019. The company's hotel net income was $0.9 million, with comparable hotel EBITDA at $9.2 million, down 2% from August 2019. Positive performance was noted at all resorts, with some properties achieving record ADRs. Management remains cautious about COVID-19 and its impacts.
Axos Financial, Inc. (NYSE: AX) announced the election of Stefani Carter as an independent director, effective August 31, 2021. Carter brings a wealth of experience in legal, corporate governance, and public company board service. Chairman Paul Grinberg expressed confidence that her insights will benefit the company's growth. Carter, an attorney since 2005, has held various legal roles and has served in the Texas House of Representatives. Axos Financial continues its transformation from a consumer-focused bank to a diversified financial services entity.
Braemar Hotels & Resorts (NYSE: BHR) reported July portfolio occupancy at 69.6%, with an average daily rate (ADR) of $387, leading to a RevPAR of $269. This represents a 197% increase from July 2020 and a 14% increase from July 2019. The CEO, Richard J. Stockton, highlighted strong leisure demand and forecasted total revenues for August and September to exceed 30% compared to 2019. However, the company acknowledges risks affecting future performance, including COVID-19 impacts and market volatility.
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?
