| Metric | Value ($ M) | Q1 FY26 | Q2 FY25 |
|---|---|---|---|
| Revenue | 171.03 | 18.2% | 4.5% |
| Total Income | 171.03 | 18.2% | 4.5% |
| Expenditure | 157.81 | 6.8% | 2.1% |
| PBT | 9.42 | 51.6% | 231.0% |
| Net Profit | 7.04 | 60.2% | 228.7% |
| OPM | 17.90% | 1.06pp | 7.91pp |
| NPM | 4.12% | 4.36pp | 7.17pp |
| EPS | -0.01 | 114.3% | 95.8% |
Braemar Hotels & Resorts Reports Second Quarter 2026 Results
06 Aug 2026 · 6 Aug, 2:00 am
Summary
Braemar Hotels & Resorts reported its second quarter 2026 financial results, highlighting a significant increase in comparable RevPAR, which reached $396, up 12.3% year-over-year and setting a new company record for the second quarter. Comparable Hotel EBITDA also saw a strong increase of 14.2% to $48.4 million. The company reported a net loss attributable to common stockholders of $0.7 million, or ($0.01) per diluted share, while Adjusted EBITDAre stood at $37.8 million. Management noted progress on its transition to a self-managed REIT, with recent property sales and agreements to sell additional assets.
Key Highlights
- 1
Comparable Total RevPAR for all hotels increased 10.6% over the prior year quarter to $652.
- 2
Comparable RevPAR for all hotels totaled $396, an increase of 12.3% over the prior year quarter, marking the highest second quarter RevPAR in the Company's history.
- 3
Net loss attributable to common stockholders for the quarter was $0.7 million or ($0.01) per diluted share.
- 4
Adjusted EBITDAre was $37.8 million for the quarter.
- 5
Comparable Hotel EBITDA was $48.4 million for the quarter, up 14.2% over the prior year quarter.
- 6
The Company ended the quarter with $93.9 million in cash and cash equivalents.
- 7
Subsequent to quarter end, the Company announced the sale of three properties for a total purchase price of $437.5 million in cash.
Management Comments
Richard J. Stockton
I’m extremely pleased with our record-breaking second quarter performance, highlighted by comparable RevPAR growth of approximately 12.3%, comparable Hotel EBITDA growth of 14.2% and 93 basis points of margin expansion to 28.6%. This Hotel EBITDA growth is particularly notable given the challenging snow year at our Ritz-Carlton Lake Tahoe property. The remainder of our luxury portfolio delivered exceptional property-level performance during the quarter, led by comparable RevPAR growth of 38.4% at Cameo Beverly Hills, 28.4% at The Ritz-Carlton Reserve Dorado Beach, and 20.6% at The Ritz-Carlton, St. Thomas. Our top-line growth this quarter was driven primarily by rate, as comparable ADR increased 13.1% while occupancy remained essentially flat, reflecting the pricing power of our luxury portfolio in supply-constrained U.S. and Caribbean markets. Additionally, with the recent closings of four property sales and our announced agreement to sell Pier House Resort & Spa, we continue to make meaningful progress on our management spin-out and transition to a self-managed REIT. We look forward to providing additional updates in the near future.
Informational and educational content only. Not investment advice.