I have written about Braemar Hotels & Resorts (NYSE: BHR ) a couple of times previously, most recently in May last year . Back then, I rated the company as a “Sell”, due to concerns over its balance sheet.My aim is to build a financial portfolio which will enable me to become financially independent. While I have a keen interest in the financial markets, and am constantly seeking to learn more about various sectors, this means I tend to gravitate towards dividend stocks as they will provide me with a steady ...

Core Viewpoint - The article discusses Braemar Hotels & Resorts (NYSE: BHR) and expresses concerns regarding its balance sheet, leading to a previous rating of "Sell" [1]. Company Analysis - Braemar Hotels & Resorts has been previously analyzed, with the last assessment occurring in May of the previous year [1]. - The company is under scrutiny due to financial stability issues, which have influenced investment recommendations [1].

DALLAS, Feb. 2, 2026 /PRNewswire/ -- Braemar Hotels & Resorts Inc. (NYSE: BHR) (the "Company") announced today clarifications about its first quarter preferred dividend declarations and 2026 common dividend policy. Richard Stockton, President & Chief Executive Officer of the Company stated, "We are updating our preferred equity securities dividend declaration process to align the dividend cycles of our different preferred stock share classes in conjunction with the Company's previously announced Company Sa ...

Core Viewpoint - Braemar Hotels & Resorts Inc. has announced the tax reporting information for its 2025 distributions on common and preferred shares, which will be reportable in 2025 and 2026 depending on the payment date [1][2]. Distribution Details - The common stock distribution is $0.20 per share, while the Series B preferred stock distribution is $1.3752 per share [3]. - Series D preferred stock has a distribution of $2.0624 per share, and Series E preferred stock distributions are consistently $1.8750 per share across multiple entries [3]. - Series M preferred stock distributions range from $2.0979 to $2.1354 per share, reflecting a slight variation among different series [3]. Tax Reporting Information - The distributions paid on January 15, 2025, to stockholders of record as of December 31, 2024, are reportable in 2025, while those paid on January 15, 2026, will be reportable in 2026 [2]. - The company will provide Form 8937, which details the return of capital amount for the distributions, available on its website [5]. Company Overview - Braemar Hotels & Resorts Inc. operates as a real estate investment trust (REIT) focused on the luxury hotel and resort sector, targeting high-performance properties that generate revenue per available room (RevPAR) at least twice the U.S. national average [6]. - The company is externally advised by Ashford Hospitality Advisors LLC, leveraging industry expertise for enhanced performance [6].

DALLAS, Jan. 26, 2026 /PRNewswire/ -- Braemar Hotels & Resorts Inc. (NYSE: BHR) (the "Company") announced today that its Board of Directors (the "Board") declared and the Company set aside a cash dividend for the Company's 5.5% Series B Cumulative Convertible Preferred Stock equal to: $0.1146 per diluted share which will be paid on April 15, 2026 to stockholders of record as of March 30, 2026. The Board declared and the Company set aside a cash dividend for the Company's 8.25% Series D Cumulative Preferred ...

Core Viewpoint - Ashford Inc. has appointed Jim Plohg as Executive Vice President, General Counsel, and Secretary, effective December 16, 2025, to enhance its leadership team and support its growth in the real estate and hospitality sectors [1][2]. Group 1: Appointment Details - Jim Plohg has been with Ashford since 2014, previously serving as Division General Counsel and Managing Director [1]. - His new role involves overseeing all legal, compliance, and regulatory affairs for Ashford Inc., Ashford Hospitality Trust, and Braemar Hotels & Resorts [2]. Group 2: Leadership Perspective - CEO Monty Bennett expressed confidence in Plohg's contributions, highlighting his legal, real estate, and hospitality experience as vital for the company's growth [2]. - Plohg emphasized his commitment to leading the legal team and supporting the organization in expanding its commercial real estate investment and related services [3]. Group 3: Professional Background - Plohg has over 25 years of experience in legal, operational, and investment roles, including senior positions at multi-billion dollar alternative investment firms [3]. - He began his career at the international law firm Norton Rose Fulbright, which adds to his extensive legal expertise [3]. Group 4: Company Overview - Ashford Inc. provides global asset management, investment management, and related services specifically targeting the real estate and hospitality sectors [4].

Core Points - The location of Braemar Hotels & Resorts Inc.'s 2025 Annual Meeting of Stockholders has been changed from in-person to a virtual format [1][2] - The Annual Meeting is scheduled for December 15, 2025, at 9:00 a.m. Central time, and will be accessible via the internet only [2] - The Company's Proxy Statement and Annual Report for the fiscal year ended December 31, 2024, are available online [3] Company Information - Braemar Hotels & Resorts Inc. is a real estate investment trust (REIT) that focuses on investing in luxury hotels and resorts [3]

Core Insights - The article discusses the expertise of a senior analyst and private portfolio manager with over 10 years of experience in generating value ideas in European and North American markets [1] Group 1: Analyst Background - The analyst is a contributing author and analyst for the investing group iREIT®+HOYA Capital and Wide Moat Research LLC, covering various European markets including Scandinavia, Germany, France, UK, Italy, Spain, Portugal, and Eastern Europe [1] - The focus is on identifying reasonably valued stock ideas within these markets [1] Group 2: Investment Position - The analyst holds a beneficial long position in the shares of specific companies, indicating a personal investment interest [1] - The article emphasizes that the opinions expressed are personal and not influenced by compensation from any company mentioned [1]

Property Ownership and Sales - As of September 30, 2025, the company owned interests in 14 hotel properties with a total of 3,438 rooms, representing 3,298 net rooms[159]. - The company sold the Marriott Seattle Waterfront hotel for $145 million in cash and repaid approximately $88.4 million on the related mortgage loan[168]. - The company sold The Clancy for $115 million in cash, repaying approximately $64.7 million on the related mortgage loan[175]. - The company owns 3,298 rooms across various hotel properties, with 75% ownership in the Capital Hilton and 100% ownership in several other properties[282]. - The Ritz-Carlton Reserve Dorado Beach has 96 rooms, fully owned by the company, contributing to its portfolio[282]. Financial Performance - Total revenue decreased by $4.8 million, or 3.3%, to $143.6 million for the three months ended September 30, 2025, compared to $148.4 million in 2024[180]. - Rooms revenue declined by $6.7 million, or 7.3%, to $85.7 million in the 2025 quarter, primarily due to the sales of Marriott Seattle and Hilton La Jolla Torrey Pines[182]. - Net income attributable to the Company decreased by $6.9 million, or 54.4%, to $5.7 million in the 2025 quarter from $12.6 million in 2024[181]. - Total hotel revenue decreased by $16.6 million, or 3.0%, to $538.5 million for the nine months ended September 30, 2025, compared to $555.1 million in 2024[211]. - Net income attributable to the Company decreased by $5.7 million, or 33.5%, from $16.9 million in 2024 to $11.3 million in 2025[211]. Expenses and Costs - Total hotel operating expenses decreased by $2.1 million, or 1.8%, to $111.6 million in the 2025 quarter compared to $113.7 million in 2024[180]. - Corporate general and administrative expenses increased significantly by $5.1 million, or 57.1%, to $3.8 million in the 2025 quarter[180]. - Depreciation and amortization expenses decreased by $5.3 million, or 7.0%, from $75.2 million in 2024 to $69.9 million in 2025[211]. - Property taxes, insurance, and other expenses decreased by $4.2 million, or 13.6%, to $26.6 million in 2025 compared to $30.7 million in 2024[211]. Revenue Streams - Food and beverage revenue increased by $1.9 million, or 5.3%, to $36.6 million in the 2025 quarter compared to $34.8 million in 2024[182]. - Other hotel revenue increased slightly by $28,000, or 0.1%, to $21.2 million in the 2025 quarter[184]. - Food and beverage revenue decreased by $1.9 million, or 1.4%, to $134.0 million during the 2025 period[216]. - Other hotel revenue increased by $873,000, or 1.2%, to $72.8 million during the 2025 period[217]. Debt and Financing - The company refinanced its $140 million mortgage loan secured by the Four Seasons Scottsdale, increasing the loan balance to $180 million with a new interest rate of SOFR + 3.00%[169]. - Total indebtedness as of September 30, 2025, was approximately $1.2 billion, with about $1.1 billion in variable-rate debt[284]. - A 25-basis point increase in interest rates would impact the results of operations by approximately $2.7 million per year on the variable-rate debt[284]. Strategic Initiatives - The company entered into a cooperation agreement with the Ghassemieh Group, appointing Mr. Ghassemieh to the board of directors[170]. - The company plans to rebrand and convert Mr. C Beverly Hills to Cameo Beverly Hills, with renovations expected to complete by the end of 2025[282]. - The company may enter into hedging arrangements to manage interest rate and currency fluctuations, particularly for international operations[283]. Market and Operational Insights - The company operates under an investment strategy focused on high RevPAR luxury hotels, with a target of at least twice the U.S. national average RevPAR, which was $199 for 2024[158]. - The company acknowledges that its properties' operations are seasonal, which can lead to fluctuations in quarterly lease revenue[268]. - The analysis of market risk indicates that interest rate changes have no impact on the remaining $86.3 million of fixed-rate debt[284]. Cash Flow and Dividends - Net cash flows provided by operating activities were $32.4 million for the nine months ended September 30, 2025, down from $60.2 million in 2024[260]. - The company expects to pay a quarterly cash dividend of $0.05 per share for 2025, totaling $0.20 per share on an annualized basis[267]. - The board of directors will review the dividend policy on a quarter-to-quarter basis, indicating no commitment to future dividends[267].

Financial Data and Key Metrics Changes - The company reported a net loss attributable to common stockholders of $8.2 million or $0.12 per diluted share for Q3 2025, with an AFFO per diluted share of negative $0.19 [13] - Comparable RevPAR increased by 1.4% to $257, marking the fourth consecutive quarter of RevPAR growth [8][9] - Total hotel revenue increased by 3.9% year-over-year, with comparable Hotel EBITDA reaching $21.4 million, a 15.1% increase [8][12] Business Line Data and Key Metrics Changes - The resort portfolio achieved a comparable RevPAR of $361, reflecting a 5.5% increase, and a combined comparable hotel EBITDA of $13.1 million, a 58% increase [9][17] - Urban hotels experienced a decline in comparable RevPAR by 3.9%, impacted by renovations and citywide occupancy declines [10][12] Market Data and Key Metrics Changes - Group room revenue for the full year 2025 is up 9.1% compared to the prior year, with Q3 group room revenue finishing 1.3% above the prior year [17][19] - The Ritz-Carlton Lake Tahoe saw an 80.2% increase in group room revenue, driven by strong demand post-renovation [18] Company Strategy and Development Direction - The company is focused on maximizing shareholder value through strategic divestitures, including the planned sale of the Clancy hotel [11][12] - Capital expenditures for 2025 are anticipated to be between $75 million and $85 million, aimed at enhancing portfolio quality and brand alignment [24] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the portfolio's ability to sustain operating momentum despite temporary headwinds from renovations [17][25] - The company noted a positive trend in private capital interest in hotel assets, indicating a favorable acquisition backdrop [36][37] Other Important Information - The company redeemed approximately $125 million of non-traded preferred stock, representing about 27% of the original capital raise [12] - The company has a solid liquidity position, having addressed its final 2025 debt maturity earlier in the year [7][10] Q&A Session Summary Question: What is a good maintenance run rate CapEx number for the portfolio? - The company typically targets low single digits as a percentage of revenue for maintenance CapEx, with no significant deferred projects noted [28][29] Question: Has the sales process affected results at the property level? - Management indicated that the sales process has not impacted property-level performance, with RevPAR and EBITDA growth achieved despite renovations [32] Question: What is the current acquisition backdrop for hotels? - The acquisition environment is improving, with increased interest from private equity funds and favorable debt capital markets [35][36] Question: How has the government pullback affected the D.C. asset? - The Capital Hilton has not seen significant impact from government pullback, with corporate business offsetting any declines in group segment [43][44] Question: What trends are observed in leisure spending? - Leisure revenue was up in Q3, with luxury consumers showing less price sensitivity and increased ancillary spending [49][50]