While the proven Zacks Rank places an emphasis on earnings estimates and estimate revisions to find strong stocks, we also know that investors tend to develop their own individual strategies. With this in mind, we are always looking at value, growth, and momentum trends to discover great companies. Looking at the history of these trends, perhaps none is more beloved than value investing. This strategy simply looks to identify companies that are being undervalued by the broader market. Value investors use fu ...

DALLAS, May 14, 2024 /PRNewswire/ -- Braemar Hotels & Resorts Inc. (NYSE: BHR) ("Braemar" or the "Company") today announced that, based on estimated preliminary results, Blackwells Capital LLC's ("Blackwells") withhold proxy campaign at Ashford Hospitality Trust, Inc. ("Ashford Trust") proved to be a failure, as only 7% of Ashford Trust's outstanding shares voted on the Blackwells proxy card. Ashford Trust announced earlier today that seven of its nine nominees received a majority of the votes cast and the ...

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. | --- | --- | --- | --- | |-------|-----------------|-------|-----------------------------------------------| | | | | | | Date: | May 9, 2024 | By: | /s/ RICHARD J. STOCKTON | | | | | Richard J. Stockton | | | | | President and Chief Executive Officer | | Date: | May 9, 2024 | By: | /s/ DERIC S. EUBANKS | | | | | Deric S. Eub ...

Financial Data and Key Metrics - Net income attributable to common stockholders for Q1 2024 was $3.5 million or $0.05 per diluted share, with AFFO per diluted share of $0.42 [66] - Adjusted EBITDAre for the quarter was $66.2 million, with total assets of $2.3 billion and total loans of $1.2 billion [66] - Comparable hotel RevPAR for the portfolio was nearly flat at $368, with a 2% increase in comparable hotel total revenue compared to the prior year quarter [27] - Hotel EBITDA margin expanded by 95 basis points in Q1 compared to 2019, driven by cost controls [28] - The company announced a quarterly common stock dividend of $0.05 per share, equating to an annual yield of approximately 7.7% [19] Business Line Performance - The Ritz-Carlton St. Thomas saw a 258 basis point hotel EBITDA margin expansion, driven by a 40% increase in group room nights [23] - The Ritz-Carlton Reserve Dorado Beach achieved a 199 basis point expansion in hotel EBITDA margin, with a 44% increase in rental program revenue [32] - The Four Seasons Resort Scottsdale delivered a strong Q1 performance with hotel EBITDA up almost $800,000 despite a 1.4% decline in RevPAR [54] - Ancillary revenue increased by more than 5% across the portfolio, with urban assets generating a 37% increase on a per occupied room basis [33] Market Performance - The luxury resort portfolio posted positive year-over-year growth in both RevPAR and hotel EBITDA, with combined hotel EBITDA of $65 million during the quarter [48] - Urban assets saw a slight decline in RevPAR, impacted by a $2.2 million property tax refund in the prior year quarter at the Sofitel Chicago [49] - The Caribbean hotels, including Ritz-Carlton St. Thomas and Dorado Beach, expanded their hotel EBITDA margin by 215 basis points relative to the prior year quarter [31] Strategic Direction and Industry Competition - The company is focused on selling select assets to repurchase common and preferred shares, aiming to improve the capital structure and arbitrage the gap between share price and net asset value [53] - Major renovations are underway, including at the Ritz-Carlton Lake Tahoe and Ritz-Carlton Sarasota, with anticipated capital expenditures between $85 million and $105 million for 2024 [37] - The company is leveraging group business and ancillary revenue initiatives to optimize business mix and drive margin expansion [29][33] Management Commentary on Operating Environment and Outlook - Management remains optimistic about the portfolio's performance, citing strong group bookings and positive market outlook [38] - The company is encouraged by the performance of its luxury resort portfolio, particularly in high barrier-to-entry leisure markets [48] - The election season is expected to benefit hotels in Washington, D.C., with new product offerings being assessed for next year [11] Other Important Information - The company closed on a $62 million non-recourse loan for the Ritz-Carlton Reserve Dorado Beach, with a floating interest rate of SOFR + 4.75% [20] - The Hilton La Jolla Torrey Pines is being sold for $165 million, with a $6 million non-refundable deposit received [58] - The company has refinanced, extended, or paid off almost all of its 2024 debt maturities, including loans secured by the Pier House Resort & Spa and Ritz-Carlton St. Thomas [61][46][47] Q&A Session Summary Question: Marketing of La Jolla Property and Backup Buyers - The property was marketed through Eastdil, with over 80 confidentiality agreements signed and half a dozen offers received, with JRK being the highest bidder [15] Question: Performance of Cameo Beverly Hills and Napa Valley Market - The LA market was soft in Q1, with challenges from transitioning to the Hilton platform and reduced production from Amex's Fine Hotels and Resorts program [44] - Napa Valley experienced broad market softness, with aggressive rate competition and reduced weekend trips due to tech layoffs in San Francisco [45] Question: Strength in Caribbean Markets - Early spring break and proactive group bookings drove strong performance in the Caribbean, with no significant impact from new hotel openings [70] - Dorado Beach benefited from demographic shifts and high demand for residential properties, driving ancillary hospitality demand [71] Question: Impact of Disposition on Joint Venture Partnerships - The sale of Hilton La Jolla Torrey Pines was a joint decision with Park, with no impact on the relationship, and the Capital Hilton remains a key joint venture asset [77]

Highlights a Pattern of Similar, Troubling Behavior by the Board Invites Shareholders to Visit www.NoMoreMonty.com For More Information on Blackwells' Nominees, Campaign and Timeline of Engagement with Braemar NEW YORK, May 09, 2024 (GLOBE NEWSWIRE) -- Blackwells Capital LLC ("Blackwells"), a shareholder of Braemar Hotels & Resorts Inc. ("Braemar" or the "Company") (NYSE:BHR), today released a presentation entitled "Too Little, Too Late" which may be found at https://nomoremonty.com/letters-presentations/. ...

For the quarter ended March 2024, Braemar Hotels & Resorts (BHR) reported revenue of $219.08 million, up 1.8% over the same period last year. EPS came in at $0.42, compared to $0.05 in the year-ago quarter.The reported revenue represents a surprise of +3.65% over the Zacks Consensus Estimate of $211.37 million. With the consensus EPS estimate being $0.34, the EPS surprise was +23.53%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to W ...

Braemar Hotels & Resorts (BHR) came out with quarterly funds from operations (FFO) of $0.42 per share, beating the Zacks Consensus Estimate of $0.34 per share. This compares to FFO of $0.44 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an FFO surprise of 23.53%. A quarter ago, it was expected that this hotel owner would post FFO of $0.04 per share when it actually produced FFO of $0.04, delivering no surprise.Over the last four quarters, the compan ...

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Urges Shareholder to Scrutinize the Board's Craven Efforts after Destroying nearly all Braemar's Value Demands the Board Immediately Disclose the Hilton La Jolla Torrey Pines Sale Agreement and all Benefits that Flow to Monty Bennett Invites Shareholders to Visit www.NoMoreMonty.com For More Information NEW YORK, May 07, 2024 (GLOBE NEWSWIRE) -- Blackwells Capital LLC ("Blackwells"), a shareholder of Braemar Hotels & Resorts Inc. ("Braemar" or the "Company") (NYSE:BHR), today commented on the recent disclo ...

DALLAS, May 6, 2024 /PRNewswire/ -- Braemar Hotels & Resorts Inc. (NYSE: BHR) ("Braemar" or the "Company"), reflecting its commitment to creating long-term value for shareholders, today announced notable capital market activities and strategic updates, including: The sale of Hilton Torrey Pines for $165 million, while evaluating the sale of two other hotels, The repayment of its remaining 2024 debt maturities, A $50 million preferred share redemption program, and A $50 million common share buyback authoriz ...