Braemar Hotels & Resorts Inc.

Braemar Hotels & Resorts Inc. reported a net loss attributable to common stockholders of $(0.71) million for the three months ended June 30, 2026, a significant improvement from a $(16.02) million loss in the prior year. For the six months, the company achieved a net income attributable to common stockholders of $4.19 million, reversing a loss of $(18.57) million year-over-year. Total hotel revenue for the six-month period was $380.01 million, a slight decrease from $394.90 million in the prior year. The company also recorded a $17.40 million gain on disposition of assets, including the sale of the Park Hyatt Beaver Creek Resort & Spa in May 2026.

Braemar Hotels & Resorts Inc. reported strong second-quarter 2026 results, achieving its highest quarterly Adjusted FFO per diluted share in five years at $0.13, a 44% increase year-over-year. The company saw significant growth in comparable hotel operating metrics, with Hotel EBITDA rising 14.2% to $48.4 million and RevPAR increasing 12.3% to $396. These results highlight the outperformance of its luxury, resort-weighted portfolio and continued balance sheet discipline.

Braemar Hotels & Resorts reported a net loss of ($0.01) per diluted share for Q2 2026, despite a 12.3% increase in comparable RevPAR to $396 and a 14.2% rise in comparable Hotel EBITDA to $48.4 million. The company made significant progress on its portfolio optimization, including the sale of Park Hyatt Beaver Creek Resort & Spa for $176 million during the quarter, and subsequent sales of three additional properties for $437.5 million, with another property under agreement for $190.0 million.

Braemar Hotels & Resorts Inc. announced the extension of its $43.4 million mortgage loan for the 170-room Ritz-Carlton Lake Tahoe. The loan's maturity date has been moved from July 15, 2026, to October 15, 2026, with an interest rate of SOFR + 325 basis points. The company also has an option for a further three-month extension on the same terms. This extension resolves Braemar's last remaining 2026 maturity, with no other final maturities due until 2028.

Braemar Hotels & Resorts announced it will become a self-managed REIT, terminating its advisory agreement with Ashford Inc. and its affiliates. This strategic move, recommended by a Special Committee, is expected to reduce general and administrative costs by over $25 million annually. The company plans to reconstitute its Board with five new independent directors and an independent Chair, while retaining President and CEO Richard Stockton. Braemar will maintain a portfolio of 6-8 luxury properties and evaluate further asset sales to cover termination fees.

Braemar Hotels & Resorts Inc., through its indirect subsidiaries, has entered into an Agreement of Purchase and Sale to divest three hotel properties for a total cash consideration of $437.5 million. The properties being sold are The Ritz-Carlton Sarasota, the Hotel Yountville, and the Bardessono Hotel and Spa. The transaction is anticipated to close within 20-35 days, pending the satisfaction of customary closing conditions.

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.

Braemar Hotels & Resorts Inc. announced the appointment of Eric Batis to its Board of Directors, effective May 21, 2026. Mr. Batis, who is the Chief Operating Officer of Ashford Inc., brings extensive experience in operations and portfolio management. Concurrently, Stefani Danielle Carter and Rebecca Musser resigned from the Board, with their departures not attributed to any disagreements with the company.

Braemar Hotels & Resorts Inc. announced an amendment to its Fifth Amended and Restated Advisory Agreement with Ashford Hospitality Advisors LLC and Ashford Inc. The amendment extends the period for negotiating a revised Base Fee or Incentive Fee through December 31, 2026. This renegotiation is specifically for the term commencing January 25, 2027, following the Advisor's exercise of its extension rights.

Braemar Hotels & Resorts Inc. announced that its Board of Directors declared monthly preferred dividends for May 2026. This includes partial cash dividends for the 5.5% Series B Cumulative Convertible Preferred Stock ($0.1146 per diluted share) and the 8.25% Series D Cumulative Preferred Stock ($0.17187 per diluted share), both payable on July 15, 2026. Additionally, monthly cash dividends were declared for Series E Redeemable Preferred Stock ($0.15625 per share) and Series M Redeemable Preferred Stock ($0.17917 or $0.17708 per share depending on CUSIP), all payable on June 15, 2026.