Braemar Hotels & Resorts, Inc. (NYSE:BHR) Q4 2021 Earnings Conference Call February 25, 2022 11:00 AM ET Company Participants Jordan Jennings - Manager, Investor Relations Richard Stockton - President and CEO Deric Eubanks - Chief Financial Officer Chris Nixon - Senior Vice President and Head, Asset Management Conference Call Participants Bryan Maher - B. Riley Securities Michael Bellisario - Baird Tyler Batory - Janney Operator Greetings. And welcome to the Braemar Hotels & Resorts Fourth Quarter 2021 Earn ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________________ to ________________ Commission file number: 001-35972 BRAEMAR HOTELS & RESORTS INC. (Exact name of registrant as specified in its charter) | --- | - ...

Financial Data and Key Metrics Changes - The company reported a net loss attributed to common stockholders of $9.0 million or $0.15 per diluted share for Q3 2021 [20] - AFFO per diluted share was $0.17 compared to negative $0.21 in the prior year quarter [20] - Adjusted EBITDAre for the quarter was $21.9 million, and the company was cash flow positive at the corporate level for the quarter [20][22] - Total assets at quarter end were $1.8 billion, with $1.2 billion in loans and a blended average interest rate of 2.6% [21] - The company ended the quarter with cash and cash equivalents of $195.5 million and restricted cash of $44.8 million [21] Business Line Data and Key Metrics Changes - Comparable hotel EBITDA was $27.8 million, driven by strong occupancy levels and a 16.3% increase in ADR over the prior year quarter [9] - RevPAR for all hotels increased approximately 168% compared to Q3 2020, but decreased approximately 6.1% compared to Q3 2019 [9] - The portfolio's overall comparable EBITDA margin was 23.5%, with several hotels achieving strong margins, such as Bardessono at 45% and Hotel Yountville at 50% [10] Market Data and Key Metrics Changes - The company reported strong performance in leisure markets, particularly in drive-to leisure destinations, with eight of its 14 hotels classified as resort destinations [12] - Napa Valley properties saw comparable RevPAR increases of 138% at Bardessono and 179% at Hotel Yountville during Q3 [11] - The Ritz-Carlton St. Thomas produced $5.3 million in hotel EBITDA during the quarter, with a forecast of close to $30 million for the full year [11] Company Strategy and Development Direction - The company completed the acquisition of the Mr. C Beverly Hills Hotel for $77.9 million, which aligns with its strategy of owning high RevPAR luxury hotels [14] - The company plans to continue its growth strategy with a disciplined investment approach, focusing on transactions that are accretive to total shareholder return [16] - The portfolio is positioned to perform well in both the near-term and long-term as business and group travel resumes [18] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about recovery trends driven by strong leisure demand at luxury resort properties [38] - The company is seeing a meaningful uptick in acquisition opportunities and is focused on maintaining a solid balance sheet [16][18] - Management acknowledged challenges in labor markets but noted that they are managing to deliver service and achieve improved margins [52] Other Important Information - The company raised approximately $30 million in net proceeds through common share issuance during the quarter [24] - Capital expenditures for 2021 are anticipated to be between $20 million and $30 million, with several value-add projects planned [35] Q&A Session Summary Question: Outlook for the winter season/ski season at Hyatt Beaver Creek and Ritz-Carlton Lake Tahoe - Management indicated strong bookings for December with an ADR of approximately $550 across the portfolio [40] Question: Thoughts on share sales and capital raising - Management acknowledged that common equity was not the preferred method for raising capital at this time, given the current trading conditions [42][43] Question: Revenue management strategy and ADR performance - Management highlighted a unique, data-driven revenue optimization strategy that has contributed to strong ADR performance [47][48] Question: Corporate transient and group demand recovery - Management noted that while urban properties are improving, significant corporate transient demand has not yet returned [49] Question: Labor market challenges - Management confirmed that labor remains a challenge but emphasized that they are managing to maintain service levels and margins [52] Question: Acquisition strategy and preferences - Management expressed a preference for acquiring assets with in-place yield and a focus on disciplined pricing [56]

H BRAEMAR HOTELS & RESORTS August 2021 Forward Looking Statements and Non-GAAP Measures In keeping with the SEC's "Safe Harbor" guidelines, certain statements made during this presentation could be considered forward-looking and subject to certain risks and uncertainties that could cause results to differ materially from those projected. When we use the words "will likely result," "may," "anticipate," "estimate," "should," "expect," "believe," "intend," or similar expressions, we intend to identify forward- ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________________ to ________________ Commission file number: 001-35972 BRAEMAR HOTELS & RESORTS INC. (Exact name of registrant as specified in its charter) | --- | --- | ...

Braemar Hotels & Resorts, Inc. (NYSE:BHR) Q2 2021 Earnings Conference Call July 30, 2021 11:00 AM ET Company Participants Jordan Jennings – Investor Relations Richard Stockton – President and Chief Executive Officer Deric Eubanks – Chief Financial Officer Jeremy Welter – Chief Operating Officer Conference Call Participants Jonathan Jenkins – Janney Capital Markets Chris Woronka – Deutsche Bank Bryan Maher – B. Riley Securities Michael Bellisario – Robert W. Baird Operator Greetings. Welcome to the Braemar ...

Braemar Hotels & Resorts Inc. (NYSE:BHR) Q1 2021 Earnings Conference Call May 6, 2021 11:00 AM ET Company Participants Jordan Jennings – Manager-Investor Relations Richard Stockton – President and Chief Executive Officer Deric Eubanks – Chief Financial Officer Jeremy Welter – Chief Operating Officer Conference Call Participants Kyle Menges – B. Riley Securities Tyler Batory – Janney Capital Markets Alex Kubicek – Baird Operator Greetings, and welcome to the Braemar Hotels & Resorts, Inc. First Quarter 2021 ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________________ to ________________ Commission file number: 001-35972 BRAEMAR HOTELS & RESORTS INC. (Exact name of registrant as specified in its charter) | --- | --- | ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______ to ________ Commission file number: 001-35972 BRAEMAR HOTELS & RESORTS INC. (Exact name of registrant as specified in its charter) Maryland 46-2488594 (State or other ...

Braemar Hotels & Resorts, Inc. (NYSE:BHR) Q4 2020 Results Conference Call February 26, 2021 11:00 AM ET Company Participants Jordan Jennings - Manager, Investor Relations Richard Stockton - Chief Executive Officer and President Deric Eubanks - Chief Financial Officer Jeremy Welter - Chief Operating Officer Conference Call Participants Alex Kubicek - Baird Tyler Batory - Janney Capital Markets Bryan Maher - B. Riley Operator Greetings, and welcome to the Braemar Hotels & Resorts Incorporated Fourth Quarter ...