BRAEMAR HOTELS & RESORTS ANNOUNCES EXTENSION OF MORTGAGE LOAN SECURED BY THE RITZ-CARLTON LAKE TAHOE

Company Overview - Braemar Hotels & Resorts Inc. is a real estate investment trust (REIT) focused on investing in luxury hotels and resorts [2]. Loan Extension - The company successfully extended its mortgage loan secured by the 170-room Ritz-Carlton Lake Tahoe, with the initial maturity date in January 2025 now extended to January 2026 [1]. - The loan was extended with a paydown of $10 million, and the spread on the loan is now SOFR + 3.25$293.2 million loan that has a maturity date in June 2025 [2]. - The hotel lending market is showing signs of improvement, leading to optimism about better financing conditions in the future [2].