BRAEMAR HOT.+RES PFD. D Aktie

The board of Braemar Hotels & Resorts has terminated the advisory agreement with Ashford and decided to convert into a self-managed REIT. An internal management team will be built, the portfolio of about six to eight luxury properties in the US and the Caribbean will be continued, and annual administrative costs will be cut by more than $25 million. The board and chair will be almost completely reshuffled; CEO Richard Stockton remains in office. The company reports a market capitalization of $185 million, an EV/EBITDA of 11.6 and a dividend yield of 7.91%. » More on de.investing.com

Shareholder Al Shams, which holds about 9.5% of Braemar, wants new directors to be elected at the 2026 annual meeting and has asked the independent directors to suspend further hotel sales until the re-election. Al Shams warns that terminating the consulting agreement with Ashford could trigger a payment of more than $480m, roughly 2.4 times the current market capitalization, and would divert proceeds away from shareholders. The board had recently reviewed individual asset sales and approved the sale of the Park Hyatt Beaver Creek; Al Shams plans to file a proxy statement with the SEC to solicit voting proxies. » More on de.investing.com

Braemar Hotels has announced the sale of the Park Hyatt Beaver Creek Resort & Spa in Colorado for US$176 million. The 193-room property is being sold for US$912,000 per room, implying a capitalization rate of 5.1% on the net operating income for the last twelve months; a non‑refundable deposit of US$6.5 million has already been received. The company intends to use the net proceeds to repay outstanding convertible notes in June, as short-term liabilities exceed cash on hand; closing is expected in May and is subject to customary conditions. According to unaudited figures, the hotel generated US$10.8 million of hotel EBITDA and US$9.0 million of net operating income in the twelve months ended 2025. » More on de.investing.com