Braemar Hotels & Resorts Inc.

Braemar Hotels & Resorts Inc. (NASDAQ: BHR) is an externally-advised Maryland corporation that operates as a real estate investment trust specializing in high-revenue per available room luxury hotels and resorts. The company invests primarily in premium-branded and high-quality independent luxury properties anticipated to generate RevPAR at least twice the average RevPAR for the U.S. lodging industry, as determined by STR, LLC.

As of March 2026, Braemar owns interests in a portfolio of 13 hotel properties comprising 3,028 total rooms across six states, the District of Columbia, Puerto Rico, and St. Thomas in the U.S. Virgin Islands. The portfolio is predominantly located in U.S. urban and resort markets with favorable growth characteristics. The company's properties are managed under various prestigious brands, including six properties affiliated with Marriott International and Hilton Worldwide, one Hyatt property, one Four Seasons property, and five properties managed by Remington Hospitality. Notable properties in the portfolio include The Ritz-Carlton Sarasota, The Ritz-Carlton St. Thomas, Four Seasons Resort Scottsdale, Park Hyatt Beaver Creek Resort & Spa, and The Ritz-Carlton Lake Tahoe.

The company conducts its business through Braemar Hospitality Limited Partnership, its operating partnership. Braemar is advised by Ashford Hospitality Advisors LLC, a subsidiary of Ashford Inc., which provides comprehensive asset management services including acquisition, renovation, financing, and disposition of assets. The company does not directly operate any hotel properties or maintain employees; all advisory services are provided by Ashford LLC, while day-to-day hotel management is performed by contracted third-party management companies.

For the year ended December 31, 2025, approximately 74 percent of rooms revenue was generated by transient business, 24 percent by group sales, and 2 percent by contract sales. The company's investment strategy emphasizes disciplined capital allocation, focusing on acquiring, operating, and potentially disposing of assets to maximize returns to stockholders. Braemar elected to be taxed as a REIT beginning in 2013 and maintains its website at www.braemarhotels.com.