Braemar Hotels & Resorts Q4 2025 Earnings Call Insights
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Feb 27 2026
0mins
Source: seekingalpha
- Asset Sale Progress: Braemar has engaged Robert W. Baird & Co as its financial adviser to initiate the sale process, although no completion deadline has been set, which may impact the company's asset restructuring and future strategic direction.
- Financial Performance Overview: The company reported a net loss of $46 million for the fourth quarter, translating to a diluted loss of $0.67 per share, despite an adjusted EBITDA of $28.8 million, indicating ongoing financial pressure amid asset sales and restructuring efforts.
- Strong Resort Performance: The resort portfolio achieved a 4.1% increase in comparable RevPAR to $536, with comparable hotel EBITDA rising 6%, demonstrating robust operational efficiency and market demand despite flat overall RevPAR.
- Future Outlook and Uncertainty: Management expressed optimism about the future, emphasizing that recent renovations and asset sales will drive performance, but the ongoing sale process has left the common equity dividend policy for 2026 undetermined, adding uncertainty for shareholders.
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Analyst Views on BHR
About BHR
Braemar Hotels & Resorts Inc. is a real estate investment trust focused on investing in luxury hotels and resorts. Its business objectives are to generate attractive returns on its invested capital and long-term growth in cash flow to maximize total returns to its stockholders. The Company operates in the direct hotel investment segment of the hotel lodging industry. It owns interests in approximately 14 hotel properties in seven states, the District of Columbia, Puerto Rico and St. Thomas, U.S. Virgin Islands. The hotel properties in its portfolio are predominantly located in the United States urban and resort locations. It owns 14 of its hotel properties directly and the remaining hotel property through an investment in a majority-owned consolidated joint venture entity. All the hotel properties in its portfolio are asset-managed by Ashford LLC. The Company's hotel properties include Capital Hilton, The Notary Hotel and others.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Braemar Hotels Announces Cash Dividend Plan
- Dividend Announcement: Braemar's Board declared a cash dividend of $0.1146 per share for its 5.5% Series B Cumulative Convertible Preferred Stock, to be paid on July 15, 2026, demonstrating the company's commitment to shareholder returns.
- Preferred Stock Dividends: The company also set a cash dividend of $0.17187 per share for its 8.25% Series D Preferred Stock, scheduled for payment on July 15, 2026, reflecting stable cash flow in the high-growth luxury hotel market.
- Series E and M Dividends: Braemar will pay a cash dividend of $0.15625 per share for Series E Redeemable Preferred Stock on June 15, 2026, and $0.17917 and $0.17708 for different CUSIPs of Series M, further boosting investor confidence.
- Equity Status: As of April 30, 2026, Braemar had 11,146,482 shares of Series E and 1,373,463 shares of Series M Redeemable Preferred Stock outstanding, indicating active participation in the preferred stock market and a stable capital structure.
See More
Braemar Hotels Announces Cash Dividend Plan
- Dividend Declaration: Braemar Hotels' Board has declared a cash dividend of $0.1146 per share for its 5.5% Series B Cumulative Convertible Preferred Stock, to be paid on July 15, 2026, demonstrating the company's commitment to shareholder returns.
- Preferred Stock Dividends: Additionally, the 8.25% Series D Preferred Stock will receive a cash dividend of $0.17187 per share, reflecting the company's stability and financial health in maintaining shareholder interests.
- Series E and M Dividends: The company also announced a cash dividend of $0.15625 per share for Series E Redeemable Preferred Stock and varying amounts for Series M Redeemable Preferred Stock, further enhancing investor confidence.
- Equity Status: As of April 30, 2026, Braemar Hotels had issued 11,146,482 shares of Series E and 1,373,463 shares of Series M Redeemable Preferred Stock, indicating strong performance in the high-growth luxury hotel market.
See More
Al Shams Investments Seeks New Directors at Braemar's 2026 Meeting
- Shareholder Nomination: Al Shams Investments, holding approximately 9.5% of Braemar Hotels & Resorts, intends to nominate new directors at the 2026 Annual Meeting to enhance the protection of shareholder interests.
- Asset Sale Risk Warning: Al Shams warns that continuing hotel asset sales could trigger a termination payment exceeding $480 million, nearly 2.4 times the company's current market capitalization, posing significant risks to shareholders.
- Board Trust Crisis: Current board members received support below 5% in the 2025 elections, indicating a lack of shareholder trust, prompting Al Shams to call for a pause on major transactions until new board elections are completed.
- Legal Accountability Threat: Al Shams states that if the current board proceeds with asset sales detrimental to shareholders, they will face legal accountability, potentially leading to lawsuits against board members and their advisors to protect shareholder rights.
See More
Al Shams Investments Plans to Elect New Directors
- Shareholder Rights Protection: Al Shams Investments, holding 9.5% of Braemar Hotels & Resorts, intends to elect new directors at the 2026 Annual Meeting to safeguard public shareholders' interests and prevent the current board from pursuing controversial asset sales.
- Potential Huge Termination Risk: The advisory agreement with Ashford Inc. includes a termination provision that could trigger over $480 million in payments, nearly 2.4 times the company's current market capitalization, posing significant risks to shareholders if hotel assets are sold.
- Board Trust Crisis: Current board members faced multiple shareholder rejections in 2025, indicating a lack of trust, prompting Al Shams to call for a pause on major transactions until new directors are elected.
- Threat of Legal Action: Al Shams warns the current board that proceeding with asset sales detrimental to shareholders will lead to legal action to hold them accountable, ensuring shareholder rights are protected.
See More
Braemar Hotels to Sell Park Hyatt Beaver Creek for $176M
- Transaction Value: Braemar Hotels & Resorts has agreed to sell the 193-room Park Hyatt Beaver Creek Resort & Spa for $176 million, translating to $912,000 per key, indicating the asset's strong valuation in the luxury market.
- Non-Refundable Deposit: The deal includes a $6.5 million non-refundable earnest money deposit, which not only signifies the buyer's strong commitment but also provides Braemar with financial security, enhancing its liquidity position.
- Cap Rate Insight: The transaction reflects a 5.1% cap rate based on trailing 12-month NOI through December 2025, suggesting a stable income expectation for the property and potentially attracting further investor interest.
- Use of Proceeds: The net proceeds from the sale are planned to be used to redeem outstanding convertible notes due in June 2026, a strategy that will help improve Braemar's capital structure and reduce future financial risks.
See More
Braemar Hotels Sells Beaver Creek Resort for $176 Million
- Asset Sale Announcement: Braemar Hotels & Resorts has announced the sale of the 193-room Park Hyatt Beaver Creek Resort & Spa for $176 million, equating to $912,000 per key, highlighting the high value and market appeal of its assets.
- Capitalization Rate Insight: The transaction reflects a capitalization rate of 5.1%, based on net operating income for the trailing 12 months ending December 2025, indicating the company's robust performance and profitability in the luxury hotel sector.
- Planned Use of Proceeds: Braemar intends to use the net proceeds from this sale to redeem its outstanding convertible notes in June, which will help improve the company's financial structure and reduce debt burden.
- Strategic Implications: This asset sale is viewed as a significant milestone in the company's ongoing strategic review and sales process, underscoring Braemar's confidence in the high quality of its portfolio and laying the groundwork for future growth.
See More
Braemar Hotels Announces Cash Dividend Plan
- Dividend Announcement: Braemar's Board declared a cash dividend of $0.1146 per share for its 5.5% Series B Cumulative Convertible Preferred Stock, to be paid on July 15, 2026, demonstrating the company's commitment to shareholder returns.
- Preferred Stock Dividends: The company also set a cash dividend of $0.17187 per share for its 8.25% Series D Preferred Stock, scheduled for payment on July 15, 2026, reflecting stable cash flow in the high-growth luxury hotel market.
- Series E and M Dividends: Braemar will pay a cash dividend of $0.15625 per share for Series E Redeemable Preferred Stock on June 15, 2026, and $0.17917 and $0.17708 for different CUSIPs of Series M, further boosting investor confidence.
- Equity Status: As of April 30, 2026, Braemar had 11,146,482 shares of Series E and 1,373,463 shares of Series M Redeemable Preferred Stock outstanding, indicating active participation in the preferred stock market and a stable capital structure.
See More
Braemar Hotels Announces Cash Dividend Plan
- Dividend Declaration: Braemar Hotels' Board has declared a cash dividend of $0.1146 per share for its 5.5% Series B Cumulative Convertible Preferred Stock, to be paid on July 15, 2026, demonstrating the company's commitment to shareholder returns.
- Preferred Stock Dividends: Additionally, the 8.25% Series D Preferred Stock will receive a cash dividend of $0.17187 per share, reflecting the company's stability and financial health in maintaining shareholder interests.
- Series E and M Dividends: The company also announced a cash dividend of $0.15625 per share for Series E Redeemable Preferred Stock and varying amounts for Series M Redeemable Preferred Stock, further enhancing investor confidence.
- Equity Status: As of April 30, 2026, Braemar Hotels had issued 11,146,482 shares of Series E and 1,373,463 shares of Series M Redeemable Preferred Stock, indicating strong performance in the high-growth luxury hotel market.
See More
Al Shams Investments Seeks New Directors at Braemar's 2026 Meeting
- Shareholder Nomination: Al Shams Investments, holding approximately 9.5% of Braemar Hotels & Resorts, intends to nominate new directors at the 2026 Annual Meeting to enhance the protection of shareholder interests.
- Asset Sale Risk Warning: Al Shams warns that continuing hotel asset sales could trigger a termination payment exceeding $480 million, nearly 2.4 times the company's current market capitalization, posing significant risks to shareholders.
- Board Trust Crisis: Current board members received support below 5% in the 2025 elections, indicating a lack of shareholder trust, prompting Al Shams to call for a pause on major transactions until new board elections are completed.
- Legal Accountability Threat: Al Shams states that if the current board proceeds with asset sales detrimental to shareholders, they will face legal accountability, potentially leading to lawsuits against board members and their advisors to protect shareholder rights.
See More
Al Shams Investments Plans to Elect New Directors
- Shareholder Rights Protection: Al Shams Investments, holding 9.5% of Braemar Hotels & Resorts, intends to elect new directors at the 2026 Annual Meeting to safeguard public shareholders' interests and prevent the current board from pursuing controversial asset sales.
- Potential Huge Termination Risk: The advisory agreement with Ashford Inc. includes a termination provision that could trigger over $480 million in payments, nearly 2.4 times the company's current market capitalization, posing significant risks to shareholders if hotel assets are sold.
- Board Trust Crisis: Current board members faced multiple shareholder rejections in 2025, indicating a lack of trust, prompting Al Shams to call for a pause on major transactions until new directors are elected.
- Threat of Legal Action: Al Shams warns the current board that proceeding with asset sales detrimental to shareholders will lead to legal action to hold them accountable, ensuring shareholder rights are protected.
See More
Braemar Hotels to Sell Park Hyatt Beaver Creek for $176M
- Transaction Value: Braemar Hotels & Resorts has agreed to sell the 193-room Park Hyatt Beaver Creek Resort & Spa for $176 million, translating to $912,000 per key, indicating the asset's strong valuation in the luxury market.
- Non-Refundable Deposit: The deal includes a $6.5 million non-refundable earnest money deposit, which not only signifies the buyer's strong commitment but also provides Braemar with financial security, enhancing its liquidity position.
- Cap Rate Insight: The transaction reflects a 5.1% cap rate based on trailing 12-month NOI through December 2025, suggesting a stable income expectation for the property and potentially attracting further investor interest.
- Use of Proceeds: The net proceeds from the sale are planned to be used to redeem outstanding convertible notes due in June 2026, a strategy that will help improve Braemar's capital structure and reduce future financial risks.
See More
Braemar Hotels Sells Beaver Creek Resort for $176 Million
- Asset Sale Announcement: Braemar Hotels & Resorts has announced the sale of the 193-room Park Hyatt Beaver Creek Resort & Spa for $176 million, equating to $912,000 per key, highlighting the high value and market appeal of its assets.
- Capitalization Rate Insight: The transaction reflects a capitalization rate of 5.1%, based on net operating income for the trailing 12 months ending December 2025, indicating the company's robust performance and profitability in the luxury hotel sector.
- Planned Use of Proceeds: Braemar intends to use the net proceeds from this sale to redeem its outstanding convertible notes in June, which will help improve the company's financial structure and reduce debt burden.
- Strategic Implications: This asset sale is viewed as a significant milestone in the company's ongoing strategic review and sales process, underscoring Braemar's confidence in the high quality of its portfolio and laying the groundwork for future growth.
See More
