- Business
- Braemar Hotels & Resorts Inc. (NYSE: BHR; BHR-PB) is a real estate investment trust that invests primarily in high revenue per available room luxury hotels and resorts with RevPAR of at least twice the U.S. national average; its portfolio consists of full-service properties including affiliations with premium brands such as Ritz-Carlton, Four Seasons, Marriott Autograph Collection, Hilton, and Hyatt, located in gateway cities and resort destinations across the United States targeting affluent leisure travelers, corporate groups, and high-end business travelers; core services encompass premium room accommodations, food and beverage operations, event hosting, spas, fitness centers, and other ancillary guest services generating revenue from daily hotel operations. Founded in April 2013 as a spin-off from Ashford Hospitality Trust and headquartered in Dallas, Texas, the company is externally advised by Ashford Inc. and operates through direct hotel investments via acquisitions or developments in the luxury hospitality segment. Recent strategic changes include the 2024 announcement of a shareholder value creation plan featuring the $165 million sale of the Hilton La Jolla Torrey Pines, evaluation of two additional hotel sales in 2024 and 2025, full repayment of remaining 2024 debt maturities including the $30 million loan on Cameo Beverly Hills, a $50 million preferred share redemption program, and a $50 million common share buyback authorization; in October 2025, the company entered a definitive agreement to sell The Clancy in San Francisco for $115 million representing a 5.0% cap rate on trailing 12-month net operating income.