Braemar Hotels & Resorts Announces Portfolio Update and 2027 Financial Outlook
Announces Definitive Agreement to Sell Four Seasons Resort Scottsdale for $372 Million, Paving the Way to Complete Separation from Ashford and Become a Self-Managed REIT
Provides Key Pro Forma Financials and Full Year 2027 Guidance for Go-Forward Luxury Property Portfolio that Will be Positioned for Long Term Earnings Growth and Value Creation
Braemar Expects to Benefit from Favorable Forward Demand Trends, a Stronger Balance Sheet and Materially Lower Cost Structure – With More than $25 Million in Annual Cost Savings
Reaches Cooperation Agreement For Al Shams to Withdraw Notice of Director Nominations and Support Company's Nominees and Proposals at 2026 Annual Meeting
DALLAS, October 08, 2026--Braemar Hotels & Resorts Inc. (NYSE: BHR) ("Braemar" or the "Company") today provided a portfolio update and announced its financial outlook for full-year 2027.
Portfolio Update
On July 14, 2026, the Company closed on the sale of the Ritz-Carlton Sarasota, the Hotel Yountville and the Bardessono Hotel and Spa for a total purchase price of $437.5 million ($1.0 million per key).
On August 21, 2026, the Company closed on the sale of the Pier House Resort & Spa for $190.0 million ($1.3 million per key).
On September 29, 2026, the Company announced that it entered into a definitive agreement to sell the Four Seasons Resort Scottsdale for $372 million ($1.8 million per key) and received a $10 million non-refundable earnest money deposit in connection with the sale. The transaction is expected to close October 22, 2026, subject to customary prorations and adjustments. Including anticipated capital expenditures of $23 million, the sale price represents a 6.2% capitalization rate on net operating income for the trailing twelve months ended August 2026. The Company provides no assurances that the sale will be completed on these terms or at all.
The sales of these assets, in conjunction with other planned refinancings, are expected to generate sufficient funds to pay the remainder of the Company Sale Fee and Master Agreement Termination Fee (collectively, the "Fees") owed to Ashford Inc. ("Ashford") as part of the Company's separation from Ashford and transition to become a self-managed REIT. The completion of the separation is expected to be completed by mid-November.
Going forward, Braemar's portfolio will consist of:
Ritz-Carlton Reserve Dorado Beach (96 keys): Set on 50 acres of the former Rockefeller estate along the northern coast of Puerto Rico, Dorado Beach is one of nine Ritz-Carlton Reserve properties worldwide, the most exclusive tier of the Ritz-Carlton brand. The oceanfront resort is an intimate refuge whose design blends modern interiors with the surrounding natural landscape and diverse culture. Its 96 villa-style guestrooms each feature floor-to-ceiling glass opening onto a private balcony or terrace with ocean views, many with an en-suite plunge pool, and every stay includes a dedicated Embajador providing personalized butler and concierge services. Since acquisition in March 2022, Braemar has renovated the oceanfront Surf Room Ballroom and Boardroom, refreshed the COA restaurant, and completed numerous ROI projects throughout the resort.