braemar hotels resorts
Braemar Hotels & Resorts to Acquire Four Seasons Resort Scottsdale at Troon North for $267.8M
November 1, 2022
Acquisition Highlights: Luxury 210-key resort in North Scottsdale nestled in the foothills of the Sonoran Desert near Pinnacle Peak The Company will purchase the asset using $267.8 million of cash on hand Revenue per available room (RevPAR) of $407 forecasted for 2022 year-end Numerous world-class amenities including spa treatments, a bi-level pool and authentic Southwest cuisine; offering breathtaking mountain views and ideally situated near two world-class golf courses DALLAS, Nov. 1, 2022 /PRNewswire/ -- Braemar Hotels & Resorts Inc. (NYSE: BHR) ("Braemar" or the "Company") today announced it has entered into ...
Braemar Hotels & Resorts Completes Acquisition Of The Mr. C Beverly Hills Hotel
Braemar Hotels & Resorts | August 6, 2021
DALLAS - August 6, 2021 - Braemar Hotels & Resorts Inc. today announced that it has completed the acquisition of the 138-room Mr. C Beverly Hills Hotel in Los Angeles, California (the "Mr. C" or the "Property"), previously announced on June 1, 2021. In addition, the Company acquired five luxury condominium residences adjacent to the hotel. The total consideration for the acquisition was $77.9 million and consisted of $65.4 million for the hotel ($474,000 per key) and an allocated price of $12.5 million for the five adjacent condominium units. The acquisition was funded with approximately $30 million of cash, 2.5 million ...
Braemar Hotels & Resorts to Acquire The Mr. C Beverly Hills Hotel for $65.4 Million
Braemar Hotels & Resorts | June 1, 2021
DALLAS, June 1, 2021 Luxury hotel ideally located in close proximity to high-end shopping on Rodeo Drive and business demand from Century City and Culver City. The Company will issue 2.5 million units in its Operating Partnership ("OP units") and 500,000 warrants to the seller as part of the consideration for this acquisition, in addition to $30 million of cash (the majority of which will be used to paydown existing debt). Attractive price per key of $474,000 for fee simple ownership of a luxury hotel. Revenue per available room (RevPAR) of $251.14 for the 12 months ended December 31, 2019. Remington will take over hotel mana...
Ashford Group of Companies to Return PPP Funds
Ashford Group | May 4, 2020
DALLAS -- May 4, 2020 -- The Ashford Group of Companies announced today that all of its companies, including Ashford Inc. (NYSE American: AINC), Ashford Hospitality Trust, Inc. (NYSE: AHT) ("Ashford Trust"), and Braemar Hotels & Resorts Inc. (NYSE: BHR) ("Braemar"), will return all funds provided by the Small Business Administration's ("SBA") Paycheck Protection Program ("PPP") due to the agency's recently changed rules and inconsistent federal guidance that put the companies at compliance risk. Federal Government assistance is required to repair the most significant damage in history to U.S. hotels and hospitality businesses cause...
Braemar Hotels & Resorts Plans January 2020 Opening of The Clancy – A New Autograph Collection Property In Downtown San Francisco
Braemar Hotels & Resorts | August 1, 2019
July 2019 (San Francisco, CA) – Braemar Hotels & Resorts Inc. (NYSE: BHR) ("Braemar" or the "Company") today announced the planned opening of The Clancy in January 2020. Located in San Francisco's vibrant South of Market (SoMa) district, the former Courtyard San Francisco Downtown is undergoing a rebranding and renovation of approximately $30 million to create The Clancy. The hotel now joins Marriott International's Autograph Collection® Hotels, a diverse portfolio of approximately 180 independent hotels around the world that reflect unique vision, design and environments. The Clancy is ideally situated at 299 Second Street, i...
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