Loan & DebtJun 1, 2026, 04:11 PM
Braemar Hotels Repays $86.25M Convertible Notes With Hotel Sale Proceeds
AI Summary
Braemar Hotels & Resorts Inc. announced the full repayment of its $86.25 million 4.50% Convertible Senior Notes due 2026, along with accrued interest. This repayment was financed using proceeds from the sale of the Park Hyatt Beaver Creek Resort & Spa for $176 million. The company also repaid a $70.5 million mortgage on the property, retaining approximately $104.5 million in net proceeds. This deleveraging strengthens the company's balance sheet.
Key Highlights
- Braemar Hotels & Resorts repaid $86.25 million in 4.50% Convertible Senior Notes due 2026 at maturity.
- The repayment was funded by proceeds from the sale of the Park Hyatt Beaver Creek.
- The company also repaid a $70.5 million mortgage loan secured by the Park Hyatt Beaver Creek.
- The Park Hyatt Beaver Creek was sold for $176 million, representing a 4.6% capitalization rate.
- Net proceeds from the hotel sale were approximately $104.5 million after costs and retained cash.
Price Impact
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