Braemar Hotels and Resorts Inc (BHR)

BRAEMAR HOTELS & RESORTS EXTENDS RITZ-CARLTON LAKE TAHOE MORTGAGE LOANJune 29, 2026 4:15 PM
PR Newswire (US) DALLAS, June 29, 2026 /PRNewswire/ -- Braemar Hotels & Resorts Inc. (NYSE: BHR) ("Braemar" or the "Company") announced today that it has extended its $43.4 million mortgage loan secured by the 170-room Ritz-Carlton Lake Tahoe. The loan had an initial maturity date of July 15, 2026 and now has a maturity date of October 15, 2026. The extended loan is priced at SOFR + 325 basis points. A further three-month maturity extension is also available at the Company's discretion on the same terms."We are pleased to announce the extension of this mortgage loan, which addresses our only remaining 2026 maturity," said Richard Stockton, President and Chief Executive Officer. "When we ultimately refinance this loan later this year, the Company will have no other final maturities until 2028. Debt financing markets continue to remain constructive, and we are hopeful that these financing terms can be improved even further."About Braemar Hotels & ResortsBraemar Hotels & Resorts Inc. (NYSE: BHR) is a real estate investment trust (REIT) focused on the high-growth luxury hotel and resort sector. The Company targets high-performance luxury urban and resort properties. Its industry-leading portfolio features luxury properties across the United States and the U.S. territories in the Caribbean. Braemar leverages deep industry expertise and disciplined asset management to drive outsized performance.Forward-Looking StatementsCertain statements and assumptions in this press release contain or are based upon "forward-looking" information and are being made pursuant to the safe harbor provisions of the federal securities regulations. Forward-looking statements are generally identifiable by use of forward-looking terminology such as "may," "will," "should," "potential," "intend," "expect," "anticipate," "estimate," "approximately," "believe," "could," "project," "predict," or other similar words or expressions. Additionally, statements regarding the following subjects are forward-looking by their nature: our business and investment strategy; anticipated or expected purchases, sales or dispositions of assets; our projected operating results; completion of any pending transactions; our ability to restructure existing property-level indebtedness; our ability to secure additional financing to enable us to operate our business; our understanding of our competition; projected capital expenditures; and the impact of technology on our operations and business. Such forward-looking statements are based on our beliefs, assumptions, and expectations of our future performance taking into account all information currently known to us. These beliefs, assumptions, and expectations can change as a result of many potential events or factors, not all of which are known to us. If a change occurs, our business, financial condition, liquidity, results of operations, plans, and other objectives may vary materially from those expressed in our forward-looking statements. You should carefully consider this risk when you make an investment decision concerning our securities. These and other risk factors are more fully discussed in the Company's filings with the SEC.The forward-looking statements included in this press release are only made as of the date of this press release. Investors should not place undue reliance on these forward-looking statements. We will not publicly update or revise any forward-looking statements, whether as a result of new information, future events or circumstances, changes in expectations or otherwise except to the extent required by law. View original content:https://www.prnewswire.com/news-releases/braemar-hotels--resorts-extends-ritz-carlton-lake-tahoe-mortgage-loan-302813686.htmlSOURCE Braemar Hotels & Resorts, Inc. Original: BRAEMAR HOTELS & RESORTS EXTENDS RITZ-CARLTON LAKE TAHOE MORTGAGE LOAN

BRAEMAR HOTELS & RESORTS DECLARES MONTHLY PREFERRED DIVIDENDS FOR JUNE 2026June 22, 2026 4:20 PM
PR Newswire (US) DALLAS, June 22, 2026 /PRNewswire/ -- Braemar Hotels & Resorts Inc. (NYSE: BHR) ("Braemar" or the "Company") today announced that its Board of Directors (the "Board") declared a partial cash dividend for the month of June for the Company's 5.5% Series B Cumulative Convertible Preferred Stock equal to: $0.1146 per diluted share, which, together with the amounts previously declared and set aside by the Company for the months of April and May, will be paid on July 15, 2026 to stockholders of record as of June 30, 2026.The Board declared a partial cash dividend for the month of June for the Company's 8.25% Series D Cumulative Preferred Stock equal to: $0.17186 per diluted share, which, together with the amounts previously declared and set aside by the Company for the months of April and May, will be paid on July 15, 2026 to stockholders of record as of June 30, 2026.The Board declared a monthly cash dividend for all CUSIPs of the Company's Series E Redeemable Preferred Stock, payable as follows: $0.15625 per share will be paid on July 15, 2026, to stockholders of record as of June 30, 2026.The Board declared a monthly cash dividend for CUSIPs 10482B705, 10482B887, 10482B796, and 10482B861 of the Company's Series M Redeemable Preferred Stock payable as follows: $0.17917 per share will be paid on July 15, 2026, to stockholders of record as of June 30, 2026.The Board declared a monthly cash dividend for all remaining CUSIPs of the Company's Series M Redeemable Preferred Stock payable as follows: $0.17708 per share will be paid on July 15, 2026, to stockholders of record as of June 30, 2026.As of May 29, 2026, there were 10,905,043 shares of the Company's Series E Redeemable Preferred Stock and 1,367,795 shares of the Company's Series M Redeemable Preferred Stock issued and outstanding.About Braemar Hotels & ResortsBraemar Hotels & Resorts Inc. (NYSE: BHR) is a real estate investment trust (REIT) focused on the high-growth luxury hotel and resort sector. The Company targets high-performance luxury urban and resort properties, specializing in assets that generate revenue per available room (RevPAR) at least twice the U.S. national average. Its industry-leading portfolio features luxury properties across the United States and the U.S. territories in the Caribbean. Braemar leverages deep industry expertise and disciplined asset management to drive outsized performance.Forward-Looking StatementsCertain statements and assumptions in this press release contain or are based upon "forward-looking" information and are being made pursuant to the safe harbor provisions of the federal securities regulations. Forward-looking statements are generally identifiable by use of forward-looking terminology such as "may," "will," "should," "potential," "intend," "expect," "anticipate," "estimate," "approximately," "believe," "could," "project," "predict," or other similar words or expressions. Additionally, statements regarding the following subjects are forward-looking by their nature: our business and investment strategy; anticipated or expected purchases, sales or dispositions of assets; our projected operating results; completion of any pending transactions; our ability to restructure existing property-level indebtedness; our ability to secure additional financing to enable us to operate our business; our understanding of our competition; projected capital expenditures; and the impact of technology on our operations and business. Such forward-looking statements are based on our beliefs, assumptions, and expectations of our future performance taking into account all information currently known to us. These beliefs, assumptions, and expectations can change as a result of many potential events or factors, not all of which are known to us. If a change occurs, our business, financial condition, liquidity, results of operations, plans, and other objectives may vary materially from those expressed in our forward-looking statements. You should carefully consider this risk when you make an investment decision concerning our securities. These and other risk factors are more fully discussed in the Company's filings with the SEC.The forward-looking statements included in this press release are only made as of the date of this press release. Investors should not place undue reliance on these forward-looking statements. We will not publicly update or revise any forward-looking statements, whether as a result of new information, future events or circumstances, changes in expectations or otherwise except to the extent required by law. View original content:https://www.prnewswire.com/news-releases/braemar-hotels--resorts-declares-monthly-preferred-dividends-for-june-2026-302806832.htmlSOURCE Braemar Hotels & Resorts, Inc. Original: BRAEMAR HOTELS & RESORTS DECLARES MONTHLY PREFERRED DIVIDENDS FOR JUNE 2026

Braemar Hotels Shares Rally on Move to Become Self-Managed REIT (BHR)June 12, 2026 8:55 AM
IH Market News Braemar Hotels & Resorts Inc. (NYSE:BHR) shares surged 8% in premarket trading on Friday after the company unveiled plans to terminate its long-standing advisory arrangement with Ashford Inc. and transition to a self-managed real estate investment trust structure. The move follows a strategic review conducted by the company and a recommendation from a special committee of independent directors, which concluded that internalising management could unlock meaningful value for shareholders. Company Targets Significant Cost Savings Braemar expects the transition to deliver annual savings of more than $25 million through lower general and administrative expenses. Under the new structure, the company will directly employ its management team and staff rather than relying on external advisory services provided by Ashford and its affiliates. Management believes the shift will streamline operations and provide greater control over strategic decision-making while reducing ongoing overhead costs. Focus Remains on Luxury Hotel Portfolio Following the transition, Braemar intends to continue operating a concentrated portfolio of approximately six to eight luxury hotel properties located across the United States and the Caribbean. The portfolio currently has a gross asset value exceeding $1 billion and generated annual revenue of between $300 million and $350 million during the twelve months ended March 31, 2026. The company said maintaining a focused collection of high-end hospitality assets remains central to its long-term strategy. Major Changes Planned for the Board As part of the restructuring, Braemar will appoint five new independent directors to its board. Current directors, including Chairman Monty Bennett, have agreed to step down once the transition is completed. President and Chief Executive Officer Richard Stockton will remain a member of the board, while the newly constituted board will be led by an independent chairman. The company said the governance changes are intended to strengthen board independence and align oversight more closely with shareholder interests. Additional Ashford Relationships to End Braemar also plans to terminate its contractual arrangements with Premier Project Management LLC and Remington Lodging & Hospitality, LLC, both of which are subsidiaries of Ashford. Certain members of the management team who are currently employed by Ashford are expected to join Braemar directly as employees following the transition. The company believes bringing key personnel in-house will help ensure operational continuity while supporting the move to a fully self-managed structure. Asset Sales to Help Fund Transition Braemar intends to use proceeds from previously announced asset disposals to pay down a portion, or potentially all, of the Company Sale Fee owed to Ashford under the existing advisory agreement. In addition, management said it is evaluating the potential sale of two or three further assets to meet financial obligations associated with ending the advisory arrangement. The company expects these measures to facilitate a smooth transition while preserving balance sheet flexibility. Advisors Support Strategic Review Robert W. Baird & Co. Inc. acted as financial adviser to Braemar throughout the strategic review process, while White & Case LLP provided legal counsel. Investors welcomed the announcement, sending the stock sharply higher in premarket trading as the market responded positively to the prospect of lower costs, improved governance and greater operational independence. Original: Braemar Hotels Shares Rally on Move to Become Self-Managed REIT (BHR)

BRAEMAR HOTELS & RESORTS ANNOUNCES CONCLUSION OF STRATEGIC REVIEW PROCESS AND PLAN TO BECOME A SELF-MANAGED REIT AND REMAIN PUBLICLY TRADEDJune 12, 2026 8:00 AM
PR Newswire (US) Initiates Process to Terminate Advisory Agreement with Ashford and Its Affiliates in Order to Eliminate Relationship with Ashford and Create Its Own Management Team and New BoardPlans Near-Total Reconstitution of the Board, Including Five New Independent Directors, an Independent Chair, and President and CEO Richard Stockton Continuing His DirectorshipDALLAS, June 12, 2026 /PRNewswire/ -- Braemar Hotels & Resorts Inc. (NYSE: BHR) ("Braemar" or the "Company") today announced a series of actions designed to simplify its corporate structure, reduce costs, enhance governance and position the Company for long-term profitability and value creation. Following the conclusion of a lengthy strategic review process, and upon the recommendation of a Special Committee comprised solely of independent directors (the "Special Committee"), the BHR Board of Directors (the "Board") has approved a management spin-out, which will enable Braemar to become a self-managed real estate investment trust (REIT). These actions include the initiation of steps to terminate the Fifth Amended and Restated Advisory Agreement (the "Advisory Agreement") with Ashford Inc. and its affiliates ("Ashford"), hire employees directly, and reconstitute the Company's Board.Benefits for Shareholders A focused business generating significant revenue: On a go-forward basis, the Company intends to maintain a portfolio of approximately six to eight luxury properties across the U.S. and the Caribbean, which had a gross asset value of over $1 billion and generated total annual revenue of $300 to $350 million as of the trailing twelve months ending March 31, 2026.Long-term cost savings: The Company intends to directly hire employees and relocate to new office space, headquartered in Dallas. By directly employing its own management team, Braemar expects to reduce G&A costs by more than $25 million per year. Based on prevailing industry EBITDA multiples, ranging from 11-13x these savings imply significant potential equity value accretion.Board and management fully aligned with shareholders' best interests: The in-house management structure and a new Board are designed to improve shareholder alignment. The Company has retained Ferguson Partners, an independent executive search firm, to identify five new independent Board members. The new Board members will be appointed to the Board, with the existing directors simultaneously stepping down, at the termination of the Advisory Agreement and will also be nominated for election at the Company's next annual meeting.No disruption to management team: Certain members of the management team currently employed by Ashford will become employees of Braemar, who will work exclusively for the Company and have no ongoing relationship with Ashford or its affiliates.The Special Committee and the entire Board has worked tirelessly to exhaust all available options to maximize shareholder value. While initially a sale of the Company was explored, the Special Committee ultimately concluded that there was a superior value creation available by terminating the Advisory Agreement, spinning out management, and remaining publicly listed. While the directors have agreed to formally resign their positions, they remain devoted to the future success of the Company.Rebeca Odino-Johnson, Chairperson of the Special Committee said, "The steps we are announcing today are the result of the Special Committee's thorough review of strategic alternatives and represent what the Board believes is the best outcome for Braemar's shareholders. In formulating the path forward, the Board carefully considered the feedback it has received in the context of ongoing discussions with a number of shareholders, as well as the advice of its independent financial and legal advisors. Braemar's self-management will create meaningful value, and shareholders will benefit from a new, purpose-built Board."Richard Stockton, Braemar's President and Chief Executive Officer, said, "With a streamlined portfolio, in-house management and renewed focus on operational efficiency, Braemar will be better positioned for long-term profitability, shareholder alignment and value creation. We are also pleased with the consideration we are receiving from the recently announced asset sales at attractive values. We expect to continue evaluating the sale of an additional two or three assets to satisfy the Company's obligations associated with the termination of the Ashford advisory relationship and focus on maximizing the value of our remaining luxury portfolio. We believe that the combination of these factors will be materially accretive to shareholder value."Transition to Self-Managed REITAs part of the transition, Braemar will terminate the Advisory Agreement and all other material legacy contractual arrangements with Ashford and its affiliates. Following the termination, management, including Mr. Stockton, will be employed directly by Braemar. This new structure is expected to reduce Braemar's general and administrative costs by more than $25 million annually. Furthermore, by canceling the Ashford Master Agreements, the Company will be free to utilize any third-party company to provide property management, project management or other services at the Company's hotels. The new self-management structure was recommended by the Special Committee and approved by the independent members of the full Board.Board Refreshment and Corporate Governance EnhancementsFive new independent directors will be identified and added to the Board. Concurrent with these appointments, all existing directors (including the Chairman, Mr. Monty Bennett), except for Mr. Stockton, have agreed to step down from the Board to make way for the new directors. The reconstituted Board will have an independent Chairman.The Company has retained Ferguson Partners to assist in the search for new directors, with a focus on ensuring that they collectively possess the right mix of skills and experience to oversee the Company and shape its future strategy. No individuals will be appointed who have existing or prior relationships with Ashford, its Chairman and Chief Executive Officer, Monty J. Bennett, or Archie Bennett Jr.Governance ReformsThe Company is also taking steps to implement best-practice corporate governance reforms to better align the Company with the best interests of all shareholders, including a thorough review and revision of the Company's Bylaws, Corporate Governance Guidelines, Code of Ethics and Board Committee Charters.Additionally, Braemar will terminate its contractual relationships with Premier Project Management LLC and Remington Lodging & Hospitality, LLC, both of which are subsidiaries of Ashford. Certain immaterial, short-term contracts will be retained with Inspire, Pure and RED Hospitality to avoid disrupting existing hotel operations.The Company Sale Fee will be triggered under the Advisory Agreement with Ashford upon the closing of previously announced asset sales. Net sale proceeds from future asset sales, after working capital needs and other reserves, will be transferred to Ashford to pay down a portion or all of the Company Sale Fee.The Company does not intend to sell all or substantially all of its assets, only the approximate number necessary to satisfy the Company's obligation to pay the Company Sale Fee and Master Agreement Termination Fee.Advisors Robert W. Baird & Co. Inc. acted as financial advisor, White & Case LLP acted as legal counsel, and Longacre Square Partners acted as strategy and communications advisor to the Company.About Braemar Hotels & ResortsBraemar Hotels & Resorts Inc. (NYSE: BHR) is a real estate investment trust (REIT) focused on the high-growth luxury hotel and resort sector. The Company targets high-performance luxury urban and resort properties, specializing in assets that generate revenue per available room (RevPAR) at least twice the U.S. national average. Its industry-leading portfolio features luxury properties across the United States and the U.S. territories in the Caribbean.Forward-Looking StatementsCertain statements and assumptions in this press release contain or are based upon "forward-looking" information and are being made pursuant to the safe harbor provisions of the federal securities laws. Forward-looking statements are generally identifiable by use of forward-looking terminology such as "may," "will," "should," "potential," "intend," "expect," "anticipate," "estimate," "approximately," "believe," "could," "project," "predict," or other similar words or expressions. Additionally, statements regarding the following subjects are forward-looking by their nature: the Company's ability to execute the management spin-out; the Company's business and investment strategy; anticipated or expected purchases, sales or dispositions of assets; the Company's projected operating results; completion of any pending transactions; the Company's ability to restructure existing property-level indebtedness; the Company's ability to secure additional financing to enable us to operate the Company's business; the Company's understanding of its competition; projected capital expenditures; and the impact of technology on the Company's operations and business. Such forward-looking statements are based on the Company's beliefs, assumptions, and expectations of the Company's future performance taking into account all information currently known to the Company. These beliefs, assumptions, and expectations can change as a result of many potential events or factors, not all of which are known to the Company. If a change occurs, the Company's business, financial condition, liquidity, results of operations, plans, and other objectives may vary materially from those expressed in the Company's forward-looking statements. One should carefully consider this risk when making an investment decision concerning the Company's securities. These and other risk factors are more fully discussed in the Company's filings with the SEC.The forward-looking statements included in this press release are only made as of the date of this press release. Investors should not place undue reliance on these forward-looking statements. The Company will not publicly update or revise any forward-looking statements, whether as a result of new information, future events or circumstances, changes in expectations or otherwise except to the extent required by law. View original content:https://www.prnewswire.com/news-releases/braemar-hotels--resorts-announces-conclusion-of-strategic-review-process-and-plan-to-become-a-self-managed-reit-and-remain-publicly-traded-302799010.htmlSOURCE Braemar Hotels & Resorts, Inc. Original: BRAEMAR HOTELS & RESORTS ANNOUNCES CONCLUSION OF STRATEGIC REVIEW PROCESS AND PLAN TO BECOME A SELF-MANAGED REIT AND REMAIN PUBLICLY TRADED

Al Shams Investments Responds to Braemar Board's Latest Apparent Attempt to Entrench Conflicted Insiders and Evade AccountabilityJune 10, 2026 4:47 PM
PR Newswire (US) Issues Open Letter Urging Outside Directors to Resist Any Efforts by Conflicted Ashford Executives to Manipulate the Director Nomination and Election ProcessPEMBROKE, Bermuda, June 10, 2026 /PRNewswire/ -- Al Shams Investments Limited ("Al Shams" or "we"), the largest shareholder of Braemar Hotels & Resorts Inc. (NYSE: BHR) ("Braemar" or the "Company"), today sent a letter to Braemar's outside directors urging them to resist any efforts by the conflicted Ashford Inc. executives to manipulate the director nomination and election process. This letter follows Al Shams' open letter of 2 June 2026, in which it urged the outside directors to promptly call the Company's 2026 Annual Meeting of Shareholders to allow shareholders to elect new directors. The full text of Al Shams' letter is below:AL SHAMS INVESTMENTS LIMITED
5B Waterloo Lane
Pembroke HM 08
Bermuda10 June 2026Braemar Hotels & Resorts Inc., Outside Members of the Board of Directors
Ms. Mary Candace Evans
Ms. Rebeca Odino-Johnson
Mr. Matthew D. Rinaldi
Ms. Kellie SirnaRe: Your Apparent Efforts to Evade AccountabilityOutside Members of the Board of Directors:As you know, Al Shams Investments Limited ("Al Shams" or "we") is the largest shareholder of Braemar Hotels & Resorts Inc. ("Braemar" or the "Company") and intends to nominate several candidates for election to the Board of Directors (the "Board") at the Company's 2026 Annual Meeting of Shareholders (the "2026 Annual Meeting").In our open letter to you of 2 June 2026, we urged you to hold the 2026 Annual Meeting soon because, in our view, the current Board has no legitimacy, and we believe most shareholders agree. In furtherance of our desire to change the Board's composition, we have been preparing to submit our notice of nominations for new directors to stand for election at the 2026 Annual Meeting. One of the required elements of that submission under the Company's bylaws is a questionnaire (the "Questionnaire") to be completed by each nominee. We recently requested and received the Questionnaire from the Company.Upon reviewing the Questionnaire, we were struck by the fact that the current version of the Questionnaire differs materially from the one the Company used just a year ago in connection with the 2025 Annual Meeting of Shareholders. The revisions add seven pages and more than 60 questions and sub-questions to an already lengthy document. We are attaching a redline comparing the new form to the old one so you can see for yourselves the significant additions to the form that you seemingly found perfectly adequate just a year ago.As directors, your task is to serve the interests of shareholders. How exactly do these additional questions serve the interests of shareholders?The answer is obvious to us, as it should be to anyone who reads the new Questionnaire: They do not.The Board must surely recognize that the new, bloated Questionnaire has the effect of impeding the legitimate exercise of shareholder rights. Indeed, we suspect that is precisely the point. The Board has fashioned a cudgel seemingly designed to inflict maximum pain upon any shareholder who dares to exercise its right to nominate candidates for the Board and upon those candidates themselves.The new information being sought is no more relevant today than it was a year ago. Indeed, many of the new questions have little bearing on the qualifications, integrity or independence of proposed nominees. As just one example, the Questionnaire purports to require the disclosure of any instance during the previous five years in which the nominating shareholder (not the director nominee) advocated for a "change in… strategic direction" at any public company, even privately. How is a director nominee to know? This question, like so many of the other new questions, is certainly not germane to the qualifications of a director candidate; instead, it seems to be plainly aimed at capturing a "gotcha" answer that can be used by the Company as an excuse to reject otherwise valid nominations.We do not know how many hours the Board spent, or your advisors billed, expanding the Questionnaire. One thing of which we are certain: Since the Company's separation from Ashford Hospitality Trust in 2013, Braemar's stock price has declined by nearly 90%, making Braemar one of the worst performing companies in the entire FTSE NAREIT Index. As a large and long-suffering shareholder, we would humbly suggest that the Board's time, effort and resources would be better spent improving Braemar's operating performance and shareholder returns than devising ever-more burdensome procedural obstacles to preclude rightly disaffected shareholders from exercising their rights.Let us be clear: Your gamesmanship and procedural machinations will not discourage or dissuade us. To the contrary, we are emboldened by your attempts at entrenchment and more committed than ever to giving shareholders an opportunity to elect a new Board at the 2026 Annual Meeting.We know—and you should, too—that directors who take actions to frustrate the shareholder franchise sow the seeds of their own demise. The history of corporate governance is littered with examples of boards that have tested the limits of corporate law in response to shareholder advocacy and were rightly held accountable—whether at the ballot box, through the courts or otherwise.We urge you to reflect on your latest maneuvers and consider whether you are prepared to subject your actions, judgment and track records as fiduciaries to similar scrutiny. We also cannot help but wonder whether the directors who recently resigned from the Board rightly thought it better to distance themselves from the disreputable tactics you seem comfortable deploying. We reiterate that, as a group, the outside directors possess the numerosity, authority and duty to resist any efforts by Monty Bennett and the other Ashford directors to manipulate the corporate election machinery for their and Ashford's benefit. We expect you to discharge that duty faithfully.Should you instead choose to subordinate the interests of public shareholders to your own or those of conflicted insiders, we will not hesitate to pursue all avenues available to hold you accountable for your failures as fiduciaries.Respectfully,
Al Shams Investments LimitedAbout Al Shams Investments LimitedAl Shams Investments Limited is a Bermuda-based private investment company focused on global investments across private equity, real estate, and alternative asset classes.Certain Information Concerning the ParticipantsAl Shams, together with the other Participants (as defined below), intends to file with the U.S. Securities and Exchange Commission (the "SEC") a definitive proxy statement on Schedule 14A (the "Definitive Proxy Statement") and accompanying WHITE Universal Proxy Card to be used to solicit proxies from the shareholders of the Company in connection with the Annual Meeting.SHAREHOLDERS OF THE COMPANY ARE URGED TO READ THESE MATERIALS (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO) AND ANY OTHER RELEVANT DOCUMENTS THAT THE PARTICIPANTS HAVE FILED OR WILL FILE WITH THE SEC BECAUSE THEY CONTAIN OR WILL CONTAIN IMPORTANT INFORMATION, INCLUDING ABOUT THE MATTERS TO BE VOTED ON AT THE ANNUAL MEETING AND ADDITIONAL INFORMATION RELATING TO THE PARTICIPANTS AND THEIR DIRECT OR INDIRECT INTERESTS, BY SECURITY HOLDINGS OR OTHERWISE.At this time, the participants in the solicitation of proxies are anticipated to be Al Shams and Wafic Rida Said (collectively, the "Participants").The Definitive Proxy Statement and accompanying WHITE Universal Proxy Card will be furnished to some or all of the Company's shareholders and will be, along with other relevant documents, available at no charge on the SEC's website at https://www.sec.gov/.Information about the Participants and a description of their direct or indirect interests, by security holdings or otherwise, is contained on an amendment to Schedule 13D filed by the Participants with the SEC on June 2, 2026, and is available here. As of the date hereof, by virtue of the relationship among the Participants as members in a Schedule 13(d) group and solely for the purpose of such Schedule 13(d) group, each of the Participants is deemed to beneficially own the 6,513,000 shares of Common Stock of the Company, par value $0.01, held directly by Al Shams.Investor and Media ContactKarim Khatoun
Email: info@suncapadvisory.com View original content to download multimedia:https://www.prnewswire.com/news-releases/al-shams-investments-responds-to-braemar-boards-latest-apparent-attempt-to-entrench-conflicted-insiders-and-evade-accountability-302797270.htmlSOURCE Al Shams Investments Limited Original: Al Shams Investments Responds to Braemar Board's Latest Apparent Attempt to Entrench Conflicted Insiders and Evade Accountability

Al Shams Investments Responds to Braemar's Appointment of Another Conflicted Ashford Inc. Executive to the Board of DirectorsJune 2, 2026 2:00 PM
PR Newswire (US) Issues Open Letter to the Outside Directors Urging Them to Promptly Call the 2026 Annual Meeting and Allow Shareholders to Elect New DirectorsPEMBROKE, Bermuda, June 2, 2026 /PRNewswire/ -- Al Shams Investments Limited ("Al Shams" or "we"), the largest shareholder of Braemar Hotels & Resorts Inc. (NYSE: BHR) ("Braemar" or the "Company"), today sent a letter to Braemar's outside directors urging them to promptly call the Company's 2026 Annual Meeting of Shareholders to allow shareholders to elect new directors. This letter follows Al Shams' open letter of 8 May 2026, in which it urged the outside directors to pause further hotel divestitures pending the election of a new Board of Directors.The full text of Al Shams' letter is below:AL SHAMS INVESTMENTS LIMITED
5B Waterloo Lane
Pembroke HM 08
Bermuda2 June 2026Braemar Hotels & Resorts Inc., Outside Members of the Board of Directors
Ms. Mary Candace Evans
Ms. Rebeca Odino-Johnson
Mr. Matthew D. Rinaldi
Ms. Kellie SirnaRe: The 2026 Annual MeetingOutside Members of the Board of Directors:As you know, Al Shams Investments Limited ("Al Shams" or "we") is the largest shareholder of Braemar Hotels & Resorts Inc. ("Braemar" or the "Company").For months, we have expressed our grave concerns regarding the oversight, judgment and independence of Braemar's Board of Directors (the "Board"), most recently in our open letter to you of 8 May 2026. Other shareholders and the major proxy advisory firms have done the same by voting or recommending against directors en masse at the Company's 2025 Annual Meeting of Shareholders (the "2025 Annual Meeting").We believe those voting results represent a clear message: shareholders have lost confidence in the Board's ability to oversee the Company. In our view, the Board no longer has a mandate to govern, and it certainly does not have a mandate to make significant changes to its composition, or to Braemar's portfolio, business configuration or strategy, without the input of the Company's owners.We were therefore deeply troubled by Braemar's public announcement last week that two outside directors had resigned and, in their stead, the Board had appointed yet another senior executive of the Company's external advisor, Ashford, Inc. ("Ashford" or the "Advisor"). As a result of these changes, Ashford employees—including its Chief Executive Officer, Chief Operating Officer and Senior Managing Director and Head of Acquisitions (collectively, the "Ashford Representatives")—now occupy more than 40% of the seats on the Board.We cannot fathom how you, the remaining outside directors—who, it should be noted, still comprise a majority of the Board—concluded that the right and proper response to the resignation of two outside directors was the appointment of a third Ashford employee. This action alone, in our view, further damages your legitimacy and and supports our serious concern that no one on this Board is uncaptured by Ashford and its controlling shareholders, Archie and Monty Bennett. Do you not recognize the obvious conflicts of interest and risks associated with ceding further authority to Monty Bennett and his Ashford subordinates? Or have you simply chosen to ignore those risks, at shareholders' peril?In either event, you must surely appreciate that the Board's confounding attempt at refreshment is unlikely to satisfy the investors who have vociferously demanded change at and since the 2025 Annual Meeting. That the Board would respond to shareholders' discontent by amplifying Ashford's influence in the boardroom is bad enough; that the Board would do so unilaterally demonstrates, in our view, a stunning lack of humility.In light of these changes, the need to reconstitute the Board with credible fiduciaries has never been greater. We have identified a group of exceptionally accomplished candidates who are eager to apply their relevant expertise and fresh perspectives to Braemar's challenges and opportunities and, most importantly, vigorously protect the interests of all shareholders. The Board should promptly call the 2026 Annual Meeting of Shareholders (the "2026 Annual Meeting") so that shareholders can elect new directors in whom they have confidence.Time is of the essence. The Board continues to evaluate strategic transactions that, if consummated, could result in a payment to Ashford in excess of $480 million. Rather than strengthening its independence as it confronts a consequential process rife with actual and potential conflicts of interest, the Board has moved in the opposite direction by increasing Ashford's representation in the boardroom. That the two departing directors include the Chair of the Related Party Transaction Committee and the Chair of the Audit Committee—the two individuals most responsible for overseeing conflicts of interest—only heightens our concern that the primary beneficiaries of the Company's strategic review process will be Monty and Archie Bennett.It falls to you, the remaining outside directors, to fill the void left by your former colleagues and demonstrate that the Board is capable of acting independently and discharging its fiduciary duties faithfully. The first step is to promptly call the 2026 Annual Meeting and allow shareholders to elect directors of their choosing before proceeding with any further transactions. The four of you have the power, authority and duty to schedule that Annual Meeting, with or without the approval of the Bennetts. Absent this responsible move, we believe shareholders can have no confidence in you or the integrity of the Board's strategic review process.If you are unwilling to provide the independent oversight that shareholders deserve, you should follow the examples of Mses. Carter and Musser and resign.Respectfully,
Al Shams Investments LimitedAbout Al Shams Investments LimitedAl Shams Investments Limited is a Bermuda-based private investment company focused on global investments across private equity, real estate, and alternative asset classes.Certain Information Concerning the ParticipantsAl Shams, together with the other Participants (as defined below), intends to file with the U.S. Securities and Exchange Commission (the "SEC") a definitive proxy statement on Schedule 14A (the "Definitive Proxy Statement") and accompanying WHITE Universal Proxy Card to be used to solicit proxies from the shareholders of the Company in connection with the Annual Meeting.SHAREHOLDERS OF THE COMPANY ARE URGED TO READ THESE MATERIALS (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO) AND ANY OTHER RELEVANT DOCUMENTS THAT THE PARTICIPANTS HAVE FILED OR WILL FILE WITH THE SEC BECAUSE THEY CONTAIN OR WILL CONTAIN IMPORTANT INFORMATION, INCLUDING ABOUT THE MATTERS TO BE VOTED ON AT THE ANNUAL MEETING AND ADDITIONAL INFORMATION RELATING TO THE PARTICIPANTS AND THEIR DIRECT OR INDIRECT INTERESTS, BY SECURITY HOLDINGS OR OTHERWISE.At this time, the participants in the solicitation of proxies are anticipated to be Al Shams and Wafic Rida Said (collectively, the "Participants").The Definitive Proxy Statement and accompanying WHITE Universal Proxy Card will be furnished to some or all of the Company's shareholders and will be, along with other relevant documents, available at no charge on the SEC's website at https://www.sec.gov/. Information about the Participants and a description of their direct or indirect interests, by security holdings or otherwise, is contained on an amendment to Schedule 13D filed by the Participants with the SEC on May 22, 2026, and is available here. As of the date hereof, by virtue of the relationship among the Participants as members in a Schedule 13(d) group and solely for the purpose of such Schedule 13(d) group, each of the Participants is deemed to beneficially own the 6,513,000 shares of Common Stock of the Company, par value $0.01, held directly by Al Shams.Investor and Media Contact
Karim Khatoun
Email: info@suncapadvisory.com  View original content:https://www.prnewswire.com/news-releases/al-shams-investments-responds-to-braemars-appointment-of-another-conflicted-ashford-inc-executive-to-the-board-of-directors-302788763.htmlSOURCE Al Shams Investments Limited Original: Al Shams Investments Responds to Braemar's Appointment of Another Conflicted Ashford Inc. Executive to the Board of Directors

BRAEMAR HOTELS & RESORTS ANNOUNCES CLOSING ON SALE OF PARK HYATT BEAVER CREEK RESORT & SPAJune 1, 2026 4:20 PM
PR Newswire (US) DALLAS, June 1, 2026 /PRNewswire/ -- Braemar Hotels & Resorts Inc. (NYSE: BHR) ("Braemar" or the "Company") announced today that it has closed on the previously announced sale of the 193-room Park Hyatt Beaver Creek Resort & Spa for $176 million ($912,000 per key). The sale price represents a 4.6% capitalization rate on net operating income for the trailing 12 months ended March 2026."The sale of Park Hyatt Beaver Creek was a fantastic outcome for the Company and our shareholders," said Richard J. Stockton, President and Chief Executive Officer. "Acquired in 2017 for $145.5 million, this asset was a key representation of Braemar's strategy of owning high-quality luxury properties in attractive locations. Over our nine-year hold, we generated strong cash flow and meaningfully grew the value, ultimately selling for $176 million and delivering a compelling return for our investors. The transaction also eliminates a near-term debt maturity and generates substantial net proceeds after repayment, further strengthening our balance sheet as we advance our strategic alternatives process."In conjunction with the sale, the Company repaid the $70.5 million mortgage loan secured by the property and retained approximately $104.5 million of net proceeds after payment of transfer taxes, transaction costs, and the release of operating cash held at the property. The Company used a portion of the net proceeds to repay in full its 4.50% Convertible Senior Notes on June 1, 2026.This property sale, taken together with the sale of other properties during the applicable twelve-month and thirty-six-month lookback periods, does not, the Company believes, exceed the threshold that constitutes a Change of Control under the advisory agreement, as amended, with Ashford Inc.About Braemar Hotels & ResortsBraemar Hotels & Resorts Inc. (NYSE: BHR) is a real estate investment trust (REIT) focused on the high-growth luxury hotel and resort sector. The Company targets high-performance luxury urban and resort properties, specializing in assets that generate revenue per available room (RevPAR) at least twice the U.S. national average. Its industry-leading portfolio features luxury properties across the United States and the U.S. territories in the Caribbean. Externally advised by Ashford Hospitality Advisors LLC, Braemar leverages deep industry expertise and disciplined asset management to drive outsized performance.Braemar Hotels & Resorts Inc.Park Hyatt Beaver Creek Resort & SpaReconciliation of Hotel Net Income (Loss) to Hotel EBITDA and Hotel Net Operating Income(unaudited, in millions)


12 Months Ended

March 31, 2026Net income (loss)
$                    (3.0)Interest expense
5.0Depreciation and amortization                                                                      
7.8Hotel EBITDA
$                     9.8Capital reserve
(1.8)Hotel Net Operating Income
$                     8.0_________All information in this table is based upon unaudited operating financial data for the twelve month period ended March 31, 2026. This data has not been audited or reviewed by the Company's independent registered public accounting firm. The financial information presented could change.EBITDA is defined as net income (loss), computed in accordance with generally accepted accounting principles ("GAAP"), before interest, taxes, depreciation and amortization. Hotel EBITDA multiple is defined as the purchase price divided by the trailing 12 month EBITDA. A capitalization rate is determined by dividing the property's annual net operating income by the purchase price. Net operating income is the property's hotel EBITDA minus a capital expense reserve of 4% of gross revenue.Forward-Looking StatementsCertain statements and assumptions in this press release contain or are based upon "forward-looking" information and are being made pursuant to the safe harbor provisions of the federal securities regulations. Forward-looking statements are generally identifiable by use of forward-looking terminology such as "may," "will," "should," "potential," "intend," "expect," "anticipate," "estimate," "approximately," "believe," "could," "project," "predict," or other similar words or expressions. Additionally, statements regarding the following subjects are forward-looking by their nature: our business and investment strategy; anticipated or expected purchases, sales or dispositions of assets; our projected operating results; completion of any pending transactions; our ability to restructure existing property-level indebtedness; our ability to secure additional financing to enable us to operate our business; our understanding of our competition; projected capital expenditures; and the impact of technology on our operations and business. Such forward-looking statements are based on our beliefs, assumptions, and expectations of our future performance taking into account all information currently known to us. These beliefs, assumptions, and expectations can change as a result of many potential events or factors, not all of which are known to us. If a change occurs, our business, financial condition, liquidity, results of operations, plans, and other objectives may vary materially from those expressed in our forward-looking statements. You should carefully consider this risk when you make an investment decision concerning our securities. These and other risk factors are more fully discussed in the Company's filings with the SEC.The forward-looking statements included in this press release are only made as of the date of this press release. Investors should not place undue reliance on these forward-looking statements. We will not publicly update or revise any forward-looking statements, whether as a result of new information, future events or circumstances, changes in expectations or otherwise except to the extent required by law. View original content:https://www.prnewswire.com/news-releases/braemar-hotels--resorts-announces-closing-on-sale-of-park-hyatt-beaver-creek-resort--spa-302787555.htmlSOURCE Braemar Hotels & Resorts, Inc. Original: BRAEMAR HOTELS & RESORTS ANNOUNCES CLOSING ON SALE OF PARK HYATT BEAVER CREEK RESORT & SPA

BRAEMAR HOTELS & RESORTS DECLARES MONTHLY PREFERRED DIVIDENDS FOR MAY 2026May 21, 2026 4:25 PM
PR Newswire (US) DALLAS, May 21, 2026 /PRNewswire/ -- Braemar Hotels & Resorts Inc. (NYSE: BHR) ("Braemar" or the "Company") today announced that its Board of Directors (the "Board") declared, and the Company set aside a partial cash dividend for the Company's 5.5% Series B Cumulative Convertible Preferred Stock equal to: $0.1146 per diluted share, which will be paid on July 15, 2026 to stockholders of record as of June 30, 2026. This amount represents the monthly portion, or one-third, of the full quarterly dividend, which is being set aside each month but will be paid on a quarterly basis.The Board declared and the Company set aside a partial cash dividend for the Company's 8.25% Series D Cumulative Preferred Stock equal to: $0.17187 per diluted share, which will be paid on July 15, 2026 to stockholders of record as of June 30, 2026. This amount represents the monthly portion, or one-third, of the full quarterly dividend, which is being set aside each month but will be paid on a quarterly basis.The Board declared a monthly cash dividend for all CUSIPs of the Company's Series E Redeemable Preferred Stock, payable as follows: $0.15625 per share will be paid on June 15, 2026, to stockholders of record as of May 29, 2026.The Board declared a monthly cash dividend for CUSIPs 10482B705, 10482B887, 10482B796, and 10482B861 of the Company's Series M Redeemable Preferred Stock payable as follows: $0.17917 per share will be paid on June 15, 2026, to stockholders of record as of May 29, 2026.The Board declared a monthly cash dividend for all remaining CUSIPs of the Company's Series M Redeemable Preferred Stock payable as follows: $0.17708 per share will be paid on June 15, 2026, to stockholders of record as of May 29, 2026.As of April 30, 2026, there were 11,146,482 shares of the Company's Series E Redeemable Preferred Stock and 1,373,463 shares of the Company's Series M Redeemable Preferred Stock issued and outstanding.About Braemar Hotels & ResortsBraemar Hotels & Resorts Inc. (NYSE: BHR) is a real estate investment trust (REIT) focused on the high-growth luxury hotel and resort sector. The Company targets high-performance luxury urban and resort properties, specializing in assets that generate revenue per available room (RevPAR) at least twice the U.S. national average. Its industry-leading portfolio features luxury properties across the United States and the U.S. territories in the Caribbean. Externally advised by Ashford Hospitality Advisors LLC, Braemar leverages deep industry expertise and disciplined asset management to drive outsized performance.Forward-Looking StatementsCertain statements and assumptions in this press release contain or are based upon "forward-looking" information and are being made pursuant to the safe harbor provisions of the federal securities regulations. Forward-looking statements are generally identifiable by use of forward-looking terminology such as "may," "will," "should," "potential," "intend," "expect," "anticipate," "estimate," "approximately," "believe," "could," "project," "predict," or other similar words or expressions. Additionally, statements regarding the following subjects are forward-looking by their nature: our business and investment strategy; anticipated or expected purchases, sales or dispositions of assets; our projected operating results; completion of any pending transactions; our ability to restructure existing property-level indebtedness; our ability to secure additional financing to enable us to operate our business; our understanding of our competition; projected capital expenditures; and the impact of technology on our operations and business. Such forward-looking statements are based on our beliefs, assumptions, and expectations of our future performance taking into account all information currently known to us. These beliefs, assumptions, and expectations can change as a result of many potential events or factors, not all of which are known to us. If a change occurs, our business, financial condition, liquidity, results of operations, plans, and other objectives may vary materially from those expressed in our forward-looking statements. You should carefully consider this risk when you make an investment decision concerning our securities. These and other risk factors are more fully discussed in the Company's filings with the SEC.The forward-looking statements included in this press release are only made as of the date of this press release. Investors should not place undue reliance on these forward-looking statements. We will not publicly update or revise any forward-looking statements, whether as a result of new information, future events or circumstances, changes in expectations or otherwise except to the extent required by law View original content:https://www.prnewswire.com/news-releases/braemar-hotels--resorts-declares-monthly-preferred-dividends-for-may-2026-302779544.htmlSOURCE Braemar Hotels & Resorts, Inc. Original: BRAEMAR HOTELS & RESORTS DECLARES MONTHLY PREFERRED DIVIDENDS FOR MAY 2026

Al Shams Investments Releases Open Letter to the Independent Members of the Board of Directors of Braemar Hotels & ResortsMay 8, 2026 9:12 AM
PR Newswire (US) Intends to Seek the Election of New Directors at the Company's 2026 Annual MeetingUrges the Independent Directors to Pause Deal-Making Until Shareholders Have the Opportunity to Elect a New BoardPEMBROKE, Bermuda, May 8, 2026 /PRNewswire/ -- Al Shams Investments Limited ("Al Shams" or "we"), the largest shareholder of Braemar Hotels & Resorts Inc. (NYSE: BHR) ("Braemar" or the "Company") today issued a letter to Braemar's independent directors announcing Al Shams' intention to seek the election of new directors at the Company's 2026 Annual Meeting of Shareholders (the "Annual Meeting"). In the letter, Al Shams warns that further hotel divestitures risk triggering a termination payment of more than $480 million to Ashford Inc., the external advisor controlled by Braemar's Chairman, Monty Bennett. Under the terms of the advisory agreement, that payment would be made directly to Ashford before any proceeds reach shareholders.Al Shams urges the independent directors to pause further hotel divestitures until shareholders have the opportunity to elect a new Board that will act with dedication to shareholders and fortitude in the face of the Company's external advisor.The full text of Al Shams' letter is below:AL SHAMS INVESTMENTS LIMITED
5B Waterloo Lane
Pembroke HMOS
Bermuda8 May 2026Braemar Hotels & Resorts Inc., Independent Members of the Board of Directors
Ms. Stefani Danielle Carter, Lead Director
Ms. Mary Candace Evans
Ms. Rebecca Musser
Ms. Rebeca Odino-Johnson
Mr. Matthew D. Rinaldi
Ms. Kellie Sirna Re: Your Duty to Protect the Interests of Braemar's Public ShareholdersIndependent Members of the Board of Directors:I am writing to you again on behalf of Al Shams Investments Limited, which holds approximately 9.5% of the outstanding shares of Braemar Hotels & Resorts Inc. ("Braemar" or the "Company"), making it the Company's largest shareholder.In August 2025, Braemar announced that its Board of Directors (the "Board") had determined that it was in the best interests of the Company and its shareholders to pursue a sale of the Company. A few months later, in February 2026, the Company seemingly abandoned this strategy, disclosing that the Board had shifted its focus to exploring sales of the Company's hotel assets and had engaged real estate brokers to evaluate divestitures of individual hotel properties. Last week, the Board took what appears to be the first step of this process by approving the sale of Park Hyatt Beaver Creek.In our view, continuing down this path and pursuing further individual hotel divestitures will be ruinous for Braemar's public shareholders to whom you owe fiduciary duties.As you are undoubtedly aware, the Company's Advisory Agreement (the "Advisory Agreement") with Ashford Hospitality Advisors LLC (together with Ashford, Inc. the "Advisor") contains a so-called "termination provision" that could result in a payment to Ashford Inc. in excess of $480 million—a sum equaling nearly 2.4 times the Company's current market capitalization. Importantly, the Advisory Agreement provides that, under some circumstances, selling even a handful of hotels (e.g., three hotels within a year if they represent over 20% of the Company's gross asset value, or five hotels over three years if they exceed 30% of that value) could constitute a "Company Change of Control," likely causing a constructive "termination".1Just as critical, once a "Company Change of Control" is triggered under the Advisory Agreement, the entire fee must be paid directly to the Advisor by the buyer of Braemar's hotel assets before any proceeds from the sale or subsequent sales flow to the Company or its shareholders.2 In effect, the Advisor would immediately assume the position of a senior, super-priority creditor, entitled to receive the full termination payment dollar-for-dollar ahead of any other stakeholder, such that no proceeds from asset sales (including any subsequent dispositions) would be available to Braemar or its public shareholders unless and until the Advisor is paid in full. Minority asset sales of the kind the Board is undertaking—which are unlikely to require a shareholder vote or approval—could thus precipitate a massive transfer of value to the Advisor and its controlling shareholders, Archie and Monty Bennett, the latter of whom serves as the Chairman of Braemar, which we believe creates an obvious conflict of interest.Given the potential half-billion-dollar windfall to the Chairman's family, we believe the Company's strategic review process is rife with potential and actual conflicts of interest. As independent directors and members of the Special Committee, you are duty-bound to protect public shareholders from disadvantageous strategies (such as piecemeal sales) and transactions. You must exercise heightened vigilance and prudent judgment to avoid the eminently foreseeable harm that would result from a "termination" of the Advisor's agreement driven by these contemplated asset sales. Importantly, it is not enough for Braemar to achieve fair—or even at above-market—prices if the proceeds are effectively diverted to a springing creditor that would not otherwise benefit from the asset's value or cash flow.We believe many shareholders share our view and lack confidence that this Board can fulfill these complex duties or act with fidelity on behalf of public shareholders. The Board has three directors whom shareholders, by a majority of votes cast, have rejected multiple times.3 These directors include both the Chair and the Lead Director, the latter of whom has been thrice rejected by shareholders during her tenure. Yet, she remains on the Board and in a leadership role. The other incumbent directors have not fared much better: support for each of Braemar's eight incumbent directors ranked in the bottom 5% of all directors elected in 2025 at Russell 3000 companies.4In our view, these vote results reflect an unequivocal lack of shareholder trust and confidence in the Board's independent oversight and prudential judgment and are a clear indication that the Board should defer any further major actions, including asset sales, until after the 2026 Annual Meeting. At that meeting, we intend to seek the election of new Board members that have legitimacy with shareholders and a mandate to act on their behalf. We urge you to pause any additional deal-making until shareholders have had a chance to elect a Board of their choosing.Should you disregard this message—and your fiduciary obligations—and proceed with asset sales that benefit the Advisor and harm shareholders, you should expect to be held fully accountable. We will not hesitate to pursue legal action against the existing members of the Special Committee (and the advisors that aid and abet any breaches of their duties) and challenge any transaction that unjustly enriches the Advisor, as well as any payment of a termination fee. We anticipate that the pursuit of the Company's rights by shareholders would involve a thorough review of the legality of the Advisory Agreement, including its termination provision, the deal process and rationale, the waterfall of proceeds and the conduct of all parties involved. We would not be surprised if such an investigation led to litigation and concomitant discovery demands involving all parties involved.As the Company's largest shareholder, we will not stand by idly and allow you, or the Advisor with your blessing, to overstep your mandate and extract value at shareholders' expense. We urge you to act with dedication to shareholders and as a check against the considerable power and influence of the Advisor. If you wish to be relieved of these obligations, you should call the Annual Meeting and allow shareholders to replace you with fiduciaries who will not shirk from the challenge at hand.Respectfully,
Al Shams Investments Limited1 See page 40 of the Fifth Amended and Restated Advisory Agreement, dated April 23, 2018, by and between the Company, Braemar Hospitality Limited Partnership, Braemar TRS Corporation, and the Advisor, filed as EX-10.1 to the Company's 8-K filed with the SEC on April 23, 2018.
2 See Letter Agreement, dated August 25, 2025, by and among the Company, Braemar Hospitality Limited Partnership, and the Advisor, filed as EX-10.2 to the Company's 8-K filed with the SEC on August 26, 2025; See also Amendment to Letter Agreement, dated December 22, 2025, by and among the Company, Braemar Hospitality Limited Partnership, and the Advisor, filed as  EX-10.3 to the Company's 8-K filed with the SEC on December 23, 2025.
3 The three directors include Stefani Carter, whose election was opposed by 57%, 66% and 68% of the votes cast at the Company's 2025, 2024 and 2016 annual meetings, respectively; Matthew Rinaldi, whose election was opposed by 45%, 60% and 62% of the votes cast at the Company's 2025, 2024 and 2016 annual meetings, respectively; and Monty Bennett, whose election was opposed by 38%, 66% and 63% of the votes cast at the Company's 2025, 2024 and 2016 annual meetings, respectively. Vote opposition calculated as votes "Against" divided by the sum of "For" and "Against" votes.
4 Source: FactSet. Dataset comprises 18,870 individual director election proposals voted on in 2025.About Al Shams Investments LimitedAl Shams Investments Limited is a Bermuda-based private investment company focused on global investments across private equity, real estate, and alternative asset classes.Certain Information Concerning the ParticipantsAl Shams, together with the other Participants (as defined below), intends to file with the U.S. Securities and Exchange Commission (the "SEC") a definitive proxy statement on Schedule 14A (the "Definitive Proxy Statement") and accompanying WHITE Universal Proxy Card to be used to solicit proxies from the shareholders of the Company in connection with the Annual Meeting.SHAREHOLDERS OF THE COMPANY ARE URGED TO READ THESE MATERIALS (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO) AND ANY OTHER RELEVANT DOCUMENTS THAT THE PARTICIPANTS HAVE FILED OR WILL FILE WITH THE SEC BECAUSE THEY CONTAIN OR WILL CONTAIN IMPORTANT INFORMATION, INCLUDING ABOUT THE MATTERS TO BE VOTED ON AT THE ANNUAL MEETING AND ADDITIONAL INFORMATION RELATING TO THE PARTICIPANTS AND THEIR DIRECT OR INDIRECT INTERESTS, BY SECURITY HOLDINGS OR OTHERWISE.At this time, the participants in the solicitation of proxies are anticipated to be Al Shams and Wafic Rida Said (collectively, the "Participants").The Definitive Proxy Statement and accompanying WHITE Universal Proxy Card will be furnished to some or all of the Company's shareholders and will be, along with other relevant documents, available at no charge on the SEC's website at https://www.sec.gov/.Information about the Participants and a description of their direct or indirect interests, by security holdings or otherwise, is contained on an amendment to Schedule 13D filed by the Participants with the SEC on March 10, 2026, and is available here. As of the date hereof, by virtue of the relationship among the Participants as members in a Schedule 13(d) group and solely for the purpose of such Schedule 13(d) group, each of the Participants is deemed to beneficially own the 6,513,000 shares of Common Stock of the Company, par value $0.01, held directly by Al Shams.Investor and Media ContactKarim Khatoun
Email: Karim.Khatoun@suncapadvisory.com View original content to download multimedia:https://www.prnewswire.com/news-releases/al-shams-investments-releases-open-letter-to-the-independent-members-of-the-board-of-directors-of-braemar-hotels--resorts-302766949.htmlSOURCE Al Shams Investments Limited Original: Al Shams Investments Releases Open Letter to the Independent Members of the Board of Directors of Braemar Hotels & Resorts

BRAEMAR HOTELS & RESORTS ANNOUNCES AGREEMENT TO SELL PARK HYATT BEAVER CREEK RESORT & SPAApril 30, 2026 5:20 PM
PR Newswire (US)

DALLAS, April 30, 2026 /PRNewswire/ -- Braemar Hotels & Resorts Inc. (NYSE: BHR) ("Braemar" or the "Company") today announced that it has entered into a definitive agreement to sell the 193-room Park Hyatt Beaver Creek Resort & Spa for $176 million ($912,000 per key) and has received a $6.5 million non-refundable earnest money deposit. The sale price represents a 5.1% capitalization rate on net operating income for the trailing 12 months ended December 2025."The sale of this asset at a premium valuation is a significant milestone in our ongoing strategic review and sales process, underscoring the high quality of our portfolio," said Richard Stockton, Braemar's President and Chief Executive Officer. "Braemar intends to use the net proceeds to redeem its outstanding convertible notes in June."The transaction is expected to close in May 2026, subject to customary conditions. The Company provides no assurances that the sale will be completed on these terms or at all. About Braemar Hotels & ResortsBraemar Hotels & Resorts Inc. (NYSE: BHR) is a real estate investment trust (REIT) focused on the high-growth luxury hotel and resort sector. The Company targets high-performance luxury urban and resort properties, specializing in assets that generate revenue per available room (RevPAR) at least twice the U.S. national average. Its industry-leading portfolio features luxury properties across the United States and the U.S. territories in the Caribbean. Externally advised by Ashford Hospitality Advisors LLC, Braemar leverages deep industry expertise and disciplined asset management to drive outsized performance.Braemar Hotels & Resorts Inc.Park Hyatt Beaver Creek Resort & SpaReconciliation of Hotel Net Income (Loss) to Hotel EBITDA and Hotel Net Operating Income(Unaudited, in millions)




12 Months Ended

December 31, 2025Net income (loss)
$                     (1.5)Interest expense
5.1Depreciation and amortization
7.2Hotel EBITDA
$                     10.8Capital reserve
(1.8)Hotel Net Operating Income
$                       9.0__________________All information in this table is based upon unaudited operating financial data for the twelve month period ended December 31, 2025. This data has not been audited or reviewed by the Company's independent registered public accounting firm. The financial information presented could change.EBITDA is defined as net income (loss), computed in accordance with generally accepted accounting principles ("GAAP"), before interest, taxes, depreciation and amortization. Hotel EBITDA multiple is defined as the purchase price divided by the trailing 12 month EBITDA. A capitalization rate is determined by dividing the property's annual net operating income by the purchase price. Net operating income is the property's hotel EBITDA minus a capital expense reserve of 4% of gross revenue.Forward-Looking StatementsCertain statements and assumptions in this press release contain or are based upon "forward-looking" information and are being made pursuant to the safe harbor provisions of the federal securities regulations. Forward-looking statements are generally identifiable by use of forward-looking terminology such as "may," "will," "should," "potential," "intend," "expect," "anticipate," "estimate," "approximately," "believe," "could," "project," "predict," or other similar words or expressions. Additionally, statements regarding the following subjects are forward-looking by their nature: our business and investment strategy; anticipated or expected purchases, sales or dispositions of assets; our projected operating results; completion of any pending transactions; our ability to restructure existing property-level indebtedness; our ability to secure additional financing to enable us to operate our business; our understanding of our competition; projected capital expenditures; and the impact of technology on our operations and business. Such forward-looking statements are based on our beliefs, assumptions, and expectations of our future performance taking into account all information currently known to us. These beliefs, assumptions, and expectations can change as a result of many potential events or factors, not all of which are known to us. If a change occurs, our business, financial condition, liquidity, results of operations, plans, and other objectives may vary materially from those expressed in our forward-looking statements. You should carefully consider this risk when you make an investment decision concerning our securities. These and other risk factors are more fully discussed in the Company's filings with the SEC.The forward-looking statements included in this press release are only made as of the date of this press release. Investors should not place undue reliance on these forward-looking statements. We will not publicly update or revise any forward-looking statements, whether as a result of new information, future events or circumstances, changes in expectations or otherwise except to the extent required by law.



View original content:https://www.prnewswire.com/news-releases/braemar-hotels--resorts-announces-agreement-to-sell-park-hyatt-beaver-creek-resort--spa-302759530.htmlSOURCE Braemar Hotels & Resorts, Inc.

Original: BRAEMAR HOTELS & RESORTS ANNOUNCES AGREEMENT TO SELL PARK HYATT BEAVER CREEK RESORT & SPA

BRAEMAR HOTELS & RESORTS DECLARES MONTHLY PREFERRED DIVIDENDS FOR APRIL 2026April 23, 2026 4:25 PM
PR Newswire (US)

DALLAS, April 23, 2026 /PRNewswire/ -- Braemar Hotels & Resorts Inc. (NYSE: BHR) ("Braemar" or the "Company") today announced that its Board of Directors (the "Board") declared, and the Company set aside a partial cash dividend for the Company's 5.5% Series B Cumulative Convertible Preferred Stock equal to: $0.1146 per diluted share, which will be paid on July 15, 2026 to stockholders of record as of June 30, 2026. This amount represents the monthly portion, or one-third, of the full quarterly dividend, which is being set aside each month but will be paid on a quarterly basis.The Board declared and the Company set aside a partial cash dividend for the Company's 8.25% Series D Cumulative Preferred Stock equal to: $0.17187 per diluted share, which will be paid on July 15, 2026 to stockholders of record as of June 30, 2026. This amount represents the monthly portion, or one-third, of the full quarterly dividend, which is being set aside each month but will be paid on a quarterly basis.The Board declared a monthly cash dividend for all CUSIPs of the Company's Series E Redeemable Preferred Stock, payable as follows: $0.15625 per share will be paid on May 15, 2026, to stockholders of record as of April 30, 2026.The Board declared a monthly cash dividend for CUSIPs 10482B705, 10482B887, 10482B796, and 10482B861 of the Company's Series M Redeemable Preferred Stock payable as follows: $0.17917 per share will be paid on May 15, 2026 to stockholders of record as of April 30, 2026.The Board declared a monthly cash dividend for all remaining CUSIPs of the Company's Series M Redeemable Preferred Stock payable as follows: $0.17708 per share will be paid on May 15, 2026 to stockholders of record as of April 30, 2026.As of March 31, 2026, there were 11,388,459 shares of the Company's Series E Redeemable Preferred Stock and 1,379,289 shares of the Company's Series M Redeemable Preferred Stock issued and outstanding.About Braemar Hotels & ResortsBraemar Hotels & Resorts Inc. (NYSE: BHR) is a real estate investment trust (REIT) focused on the high-growth luxury hotel and resort sector. The Company targets high-performance luxury urban and resort properties, specializing in assets that generate revenue per available room (RevPAR) at least twice the U.S. national average. Its industry-leading portfolio features luxury properties across the United States and the U.S. territories in the Caribbean. Externally advised by Ashford Hospitality Advisors LLC, Braemar leverages deep industry expertise and disciplined asset management to drive outsized performance.Forward-Looking StatementsCertain statements and assumptions in this press release contain or are based upon "forward-looking" information and are being made pursuant to the safe harbor provisions of the federal securities regulations. Forward-looking statements are generally identifiable by use of forward-looking terminology such as "may," "will," "should," "potential," "intend," "expect," "anticipate," "estimate," "approximately," "believe," "could," "project," "predict," or other similar words or expressions. Additionally, statements regarding the following subjects are forward-looking by their nature: our business and investment strategy; anticipated or expected purchases, sales or dispositions of assets; our projected operating results; completion of any pending transactions; our ability to restructure existing property-level indebtedness; our ability to secure additional financing to enable us to operate our business; our understanding of our competition; projected capital expenditures; and the impact of technology on our operations and business. Such forward-looking statements are based on our beliefs, assumptions, and expectations of our future performance taking into account all information currently known to us. These beliefs, assumptions, and expectations can change as a result of many potential events or factors, not all of which are known to us. If a change occurs, our business, financial condition, liquidity, results of operations, plans, and other objectives may vary materially from those expressed in our forward-looking statements. You should carefully consider this risk when you make an investment decision concerning our securities. These and other risk factors are more fully discussed in the Company's filings with the SEC.The forward-looking statements included in this press release are only made as of the date of this press release. Investors should not place undue reliance on these forward-looking statements. We will not publicly update or revise any forward-looking statements, whether as a result of new information, future events or circumstances, changes in expectations or otherwise except to the extent required by law.



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Original: BRAEMAR HOTELS & RESORTS DECLARES MONTHLY PREFERRED DIVIDENDS FOR APRIL 2026

BRAEMAR HOTELS & RESORTS TO ANNOUNCE FIRST QUARTER 2026 FINANCIAL RESULTS ON MAY 6, 2026April 22, 2026 8:30 AM
PR Newswire (US)

DALLAS, April 22, 2026 /PRNewswire/ -- Braemar Hotels & Resorts Inc. (NYSE: BHR) ("Braemar" or the "Company") today announced details regarding the release of its results for the first quarter ended March 31, 2026.Braemar plans to issue its earnings release for the 2026 first quarter after the market closes on Wednesday, May 6, 2026. The press release will be available in the Investor Relations section of the Company's website at: https://www.bhrreit.com.About Braemar Hotels & ResortsBraemar Hotels & Resorts Inc. (NYSE: BHR) is a real estate investment trust (REIT) focused on the high-growth luxury hotel and resort sector. The Company targets high-performance luxury urban and resort properties, specializing in assets that generate revenue per available room (RevPAR) at least twice the U.S. national average. Its industry-leading portfolio features luxury properties across the United States and the U.S. territories in the Caribbean. Externally advised by Ashford Hospitality Advisors LLC, Braemar leverages deep industry expertise and disciplined asset management to drive outsized performance.Forward-Looking StatementsCertain statements and assumptions in this press release contain or are based upon "forward-looking" information and are being made pursuant to the safe harbor provisions of the federal securities regulations. Forward-looking statements are generally identifiable by use of forward-looking terminology such as "may," "will," "should," "potential," "intend," "expect," "anticipate," "estimate," "approximately," "believe," "could," "project," "predict," or other similar words or expressions. Additionally, statements regarding the following subjects are forward-looking by their nature: our business and investment strategy; anticipated or expected purchases, sales or dispositions of assets; our projected operating results; completion of any pending transactions; our ability to restructure existing property-level indebtedness; our ability to secure additional financing to enable us to operate our business; our understanding of our competition; projected capital expenditures; and the impact of technology on our operations and business. Such forward-looking statements are based on our beliefs, assumptions, and expectations of our future performance taking into account all information currently known to us. These beliefs, assumptions, and expectations can change as a result of many potential events or factors, not all of which are known to us. If a change occurs, our business, financial condition, liquidity, results of operations, plans, and other objectives may vary materially from those expressed in our forward-looking statements. You should carefully consider this risk when you make an investment decision concerning our securities. These and other risk factors are more fully discussed in the Company's filings with the SEC.The forward-looking statements included in this press release are only made as of the date of this press release. Investors should not place undue reliance on these forward-looking statements. We will not publicly update or revise any forward-looking statements, whether as a result of new information, future events or circumstances, changes in expectations or otherwise except to the extent required by law.



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Original: BRAEMAR HOTELS & RESORTS TO ANNOUNCE FIRST QUARTER 2026 FINANCIAL RESULTS ON MAY 6, 2026

BRAEMAR HOTELS & RESORTS DECLARES MONTHLY PREFERRED DIVIDENDS FOR MARCH 2026March 24, 2026 8:00 AM
PR Newswire (US)

DALLAS, March 24, 2026 /PRNewswire/ -- Braemar Hotels & Resorts Inc. (NYSE: BHR) ("Braemar" or the "Company") today announced monthly preferred dividends for March 2026.The Company's Board of Directors (the "Board") declared and the Company set aside a cash dividend for the Company's 5.5% Series B Cumulative Convertible Preferred Stock equal to: $0.1146 per diluted share which will be paid, along with the previous two months of $0.1146 dividends set aside for a total of $0.3438, on April 15, 2026 to stockholders of record as of March 30, 2026.The Board declared and the Company set aside a cash dividend for the Company's 8.25% Series D Cumulative Preferred Stock equal to: $0.17186 per diluted share which will be paid, along with the previous two months of $0.17187 dividends set aside for a total of $0.5156, on April 15, 2026 to stockholders of record as of March 31, 2026.The Board declared a monthly cash dividend for all CUSIPs of the Company's Series E Redeemable Preferred Stock, payable as follows: $0.15625 per share will be paid on April 15, 2026, to stockholders of record as of March 31, 2026.The Board declared a monthly cash dividend for CUSIPs 10482B705, 10482B887 and 10482B796 of the Company's Series M Redeemable Preferred Stock payable as follows: $0.17917 per share will be paid on April 15, 2026 to stockholders of record as of March 31, 2026.The Board declared a monthly cash dividend for all remaining CUSIPs of the Company's Series M Redeemable Preferred Stock payable as follows: $0.17708 per share will be paid on April 15, 2026 to stockholders of record as of March 31, 2026.As of February 28, 2026, there were 11,528,242 shares of the Company's Series E Redeemable Preferred Stock and 1,382,407 shares of the Company's Series M Redeemable Preferred Stock issued and outstanding.                                                             About Braemar Hotels & ResortsBraemar Hotels & Resorts Inc. (NYSE: BHR) is a real estate investment trust (REIT) focused on the high-growth luxury hotel and resort sector. The Company targets high-performance luxury urban and resort properties, specializing in assets that generate revenue per available room (RevPAR) at least twice the U.S. national average. Its industry-leading portfolio features luxury properties across the United States and the U.S. territories in the Caribbean. Externally advised by Ashford Hospitality Advisors LLC, Braemar leverages deep industry expertise and disciplined asset management to drive outsized performance.Forward-Looking StatementsCertain statements and assumptions in this press release contain or are based upon "forward-looking" information and are being made pursuant to the safe harbor provisions of the federal securities regulations. Forward-looking statements are generally identifiable by use of forward-looking terminology such as "may," "will," "should," "potential," "intend," "expect," "anticipate," "estimate," "approximately," "believe," "could," "project," "predict," or other similar words or expressions. Additionally, statements regarding the following subjects are forward-looking by their nature: our business and investment strategy; anticipated or expected purchases, sales or dispositions of assets; our projected operating results; completion of any pending transactions; our ability to restructure existing property-level indebtedness; our ability to secure additional financing to enable us to operate our business; our understanding of our competition; projected capital expenditures; and the impact of technology on our operations and business. Such forward-looking statements are based on our beliefs, assumptions, and expectations of our future performance taking into account all information currently known to us. These beliefs, assumptions, and expectations can change as a result of many potential events or factors, not all of which are known to us. If a change occurs, our business, financial condition, liquidity, results of operations, plans, and other objectives may vary materially from those expressed in our forward-looking statements. You should carefully consider this risk when you make an investment decision concerning our securities. These and other risk factors are more fully discussed in the Company's filings with the SEC.The forward-looking statements included in this press release are only made as of the date of this press release. Investors should not place undue reliance on these forward-looking statements. We will not publicly update or revise any forward-looking statements, whether as a result of new information, future events or circumstances, changes in expectations or otherwise except to the extent required by law.



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Original: BRAEMAR HOTELS & RESORTS DECLARES MONTHLY PREFERRED DIVIDENDS FOR MARCH 2026

ASHFORD ANNOUNCES PLANNED RETIREMENT OF CHIEF FINANCIAL OFFICER DERIC EUBANKSMarch 6, 2026 10:05 AM
PR Newswire (US)

DALLAS, March 6, 2026 /PRNewswire/ -- Ashford Inc. (the "Company") today announced that Deric Eubanks, Chief Financial Officer and Treasurer, will retire in June following a 23-year career with the Company and its predecessor. Mr. Eubanks will step down as Chief Financial Officer of the Company and the Company's advised REITs, Ashford Hospitality Trust, Inc. (NYSE: AHT) ("Ashford Trust") and Braemar Hotels & Resorts, Inc. (NYSE: BHR) ("Braemar") effective March 31, 2026 and, in order to ensure a smooth transition, will continue to assist the Company, as Senior Managing Director, with financial and transitional matters until June 30, 2026. Afterward, he will continue to remain available as an advisor as needed.Monty Bennett, Ashford's Chairman, commented, "Deric has been with us since 2003 when we launched Ashford Hospitality Trust. He has played an integral role in our companies over the years and has served as Chief Financial Officer for the past 12 years. What speaks to Deric's character is that even as he prepares for this next chapter, he has been unwavering in his commitment to seeing the strategic processes for both Braemar and Ashford Trust through to completion. That dedication is a reflection of everything he has brought to this organization over the past two decades. I am deeply grateful for his contributions and know he leaves this Company in an exceptionally strong position.""It has been a remarkable 23-year career, and I could not be more proud of what this team has built," said Mr. Eubanks. "As I look toward retirement, I want to be clear that my focus remains squarely on the work in front of us. I am committed to supporting the sale process for Braemar and the ongoing asset dispositions at Ashford Trust, and I will not consider my work here done until those processes are well in hand. I have tremendous confidence in the leadership team that will carry this organization forward. Justin and the broader team are exceptionally capable, and I leave knowing the Company is in very good hands. The foundation is strong, the strategy is sound, and the people executing it are among the best in the business."After Mr. Eubanks steps down as Chief Financial Officer, Justin Coe, the Company's current Chief Accounting Officer, will assume the role of Principal Financial Officer of the Company and its advised REITs.



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Original: ASHFORD ANNOUNCES PLANNED RETIREMENT OF CHIEF FINANCIAL OFFICER DERIC EUBANKS

BRAEMAR HOTELS & RESORTS DECLARES MONTHLY PREFERRED DIVIDENDS FOR FEBRUARY 2026February 23, 2026 4:30 PM
PR Newswire (US)

DALLAS, Feb. 23, 2026 /PRNewswire/ -- Braemar Hotels & Resorts Inc. (NYSE: BHR) ("Braemar" or the "Company") today announced monthly preferred dividends for February 2026.The Company's Board of Directors (the "Board") declared and the Company set aside a cash dividend for the Company's 5.5% Series B Cumulative Convertible Preferred Stock equal to: $0.1146 per diluted share which will be paid on April 15, 2026 to stockholders of record as of March 30, 2026.The Board declared and the Company set aside a cash dividend for the Company's 8.25% Series D Cumulative Preferred Stock equal to: $0.17187 per diluted share which will be paid on April 15, 2026 to stockholders of record as of March 31, 2026.The Board declared a monthly cash dividend for all CUSIPs of the Company's Series E Redeemable Preferred Stock, payable as follows: $0.15625 per share will be paid on March 16, 2026, to stockholders of record as of February 27, 2026.The Board declared a monthly cash dividend for CUSIPs 10482B705, 10482B887 and 10482B796 of the Company's Series M Redeemable Preferred Stock payable as follows: $0.17917 per share will be paid on March 16, 2026 to stockholders of record as of February 27, 2026.The Board declared a monthly cash dividend for all remaining CUSIPs of the Company's Series M Redeemable Preferred Stock payable as follows: $0.17708 per share will be paid on March 16, 2026 to stockholders of record as of February 27, 2026.As of January 31, 2026, there were 11,778,269 shares of the Company's Series E Redeemable Preferred Stock and 1,388,674 shares of the Company's Series M Redeemable Preferred Stock issued and outstanding.                                                                                          About Braemar Hotels & ResortsBraemar Hotels & Resorts Inc. (NYSE: BHR) is a real estate investment trust (REIT) focused on the high-growth luxury hotel and resort sector. The Company targets high-performance luxury urban and resort properties,  specializing in assets that generate revenue per available room (RevPAR) at least twice the U.S. national average. Its industry-leading portfolio features luxury properties across the United States and the U.S. territories in the Caribbean. Externally advised by Ashford Hospitality Advisors LLC, Braemar leverages deep industry expertise and disciplined asset management to drive outsized performance.Forward-Looking StatementsCertain statements and assumptions in this press release contain or are based upon "forward-looking" information and are being made pursuant to the safe harbor provisions of the federal securities regulations. Forward-looking statements are generally identifiable by use of forward-looking terminology such as "may," "will," "should," "potential," "intend," "expect," "anticipate," "estimate," "approximately," "believe," "could," "project," "predict," or other similar words or expressions. Additionally, statements regarding the following subjects are forward-looking by their nature: our business and investment strategy; anticipated or expected purchases, sales or dispositions of assets; our projected operating results; completion of any pending transactions; our ability to restructure existing property-level indebtedness; our ability to secure additional financing to enable us to operate our business; our understanding of our competition; projected capital expenditures; and the impact of technology on our operations and business. Such forward-looking statements are based on our beliefs, assumptions, and expectations of our future performance taking into account all information currently known to us. These beliefs, assumptions, and expectations can change as a result of many potential events or factors, not all of which are known to us. If a change occurs, our business, financial condition, liquidity, results of operations, plans, and other objectives may vary materially from those expressed in our forward-looking statements. You should carefully consider this risk when you make an investment decision concerning our securities. These and other risk factors are more fully discussed in the Company's filings with the SEC.The forward-looking statements included in this press release are only made as of the date of this press release. Investors should not place undue reliance on these forward-looking statements. We will not publicly update or revise any forward-looking statements, whether as a result of new information, future events or circumstances, changes in expectations or otherwise except to the extent required by law.



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Original: BRAEMAR HOTELS & RESORTS DECLARES MONTHLY PREFERRED DIVIDENDS FOR FEBRUARY 2026

BRAEMAR HOTELS & RESORTS INC. PROVIDES DIVIDEND POLICY CLARIFICATIONSFebruary 2, 2026 4:25 PM
PR Newswire (US)

DALLAS, Feb. 2, 2026 /PRNewswire/ -- Braemar Hotels & Resorts Inc. (NYSE: BHR) (the "Company") announced today clarifications about its first quarter preferred dividend declarations and 2026 common dividend policy.Richard Stockton, President & Chief Executive Officer of the Company stated, "We are updating our preferred equity securities dividend declaration process to align the dividend cycles of our different preferred stock share classes in conjunction with the Company's previously announced Company Sale process. Because our Series B and Series D preferred stock are pari passu with our Series E and Series M preferred stock with respect to distributions, they must receive equitable treatment regarding dividend declarations. To manage this consistently, we are moving from declaring Series B and Series D dividends at the start of the quarter to "reserving" them on a monthly basis alongside our other Series E and Series M monthly dividend declarations. This ensures all parity requirements with respect to distributions across all of our series of preferred stock are met while maintaining the actual quarterly payment of our Series B and Series D preferred stock on or near the 15th of the month following quarter-end. This also gives us flexibility in the event that we have a strategic transaction that requires a redemption or conversion of the preferred equity securities outstanding during the middle of a quarter."He continued, "Please note that the dividend calculation rates remain unchanged and continue to follow the respective Articles Supplementary for each series of our preferred stock.""As for our common equity dividend policy, the Board has not declared a policy for 2026 in light of the fact that there is an ongoing Company Sale Process, which could result in the Company's assets being sold in more than one transaction with net proceeds being distributed to shareholders after satisfying the Company's other obligations."The Company will provide further updates as appropriate.About Braemar Hotels & ResortsBraemar Hotels & Resorts Inc. (NYSE: BHR) is a real estate investment trust (REIT) focused on the high-growth luxury hotel and resort sector. The Company targets high-performance luxury urban and resort properties, specializing in assets that generate revenue per available room (RevPAR) at least twice the U.S. national average. Its industry-leading portfolio features luxury properties across the United States and the U.S. territories in the Caribbean. Externally advised by Ashford Hospitality Advisors LLC, Braemar leverages deep industry expertise and disciplined asset management to drive outsized performance.Forward-Looking StatementsCertain statements and assumptions in this press release contain or are based upon "forward-looking" information and are being made pursuant to the safe harbor provisions of the federal securities regulations. Forward-looking statements are generally identifiable by use of forward-looking terminology such as "may," "will," "should," "potential," "intend," "expect," "anticipate," "estimate," "approximately," "believe," "could," "project," "predict," or other similar words or expressions. Additionally, statements regarding the following subjects are forward-looking by their nature: our business and investment strategy; anticipated or expected purchases, sales or dispositions of assets; our projected operating results; completion of any pending transactions; our ability to restructure existing property-level indebtedness; our ability to secure additional financing to enable us to operate our business; our understanding of our competition; projected capital expenditures; and the impact of technology on our operations and business. Such forward-looking statements are based on our beliefs, assumptions, and expectations of our future performance taking into account all information currently known to us. These beliefs, assumptions, and expectations can change as a result of many potential events or factors, not all of which are known to us. If a change occurs, our business, financial condition, liquidity, results of operations, plans, and other objectives may vary materially from those expressed in our forward-looking statements. You should carefully consider this risk when you make an investment decision concerning our securities. These and other risk factors are more fully discussed in the Company's filings with the SEC.The forward-looking statements included in this press release are only made as of the date of this press release. Investors should not place undue reliance on these forward-looking statements. We will not publicly update or revise any forward-looking statements, whether as a result of new information, future events or circumstances, changes in expectations or otherwise except to the extent required by law.



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Original: BRAEMAR HOTELS & RESORTS INC. PROVIDES DIVIDEND POLICY CLARIFICATIONS

BRAEMAR HOTELS & RESORTS ANNOUNCES TAX REPORTING INFORMATION FOR 2025 COMMON AND PREFERRED SHARE DISTRIBUTIONSJanuary 27, 2026 10:20 PM
PR Newswire (US)

DALLAS, Jan. 27, 2026 /PRNewswire/ -- Braemar Hotels & Resorts Inc. (NYSE: BHR) ("Braemar" or the "Company") today announced the tax reporting (Federal Form 1099-DIV) information for the 2025 distributions on its common shares and its Series B, D, E and M preferred shares.The amounts below represent the income tax treatment applicable to each distribution that is reportable in 2025. The common and preferred distributions that the Company paid on January 15, 2025 to stockholders of record as of December 31, 2024 are reportable in 2025. The common and preferred distributions that the Company paid on January 15, 2026 to stockholders of record as of December 31, 2025 will be reportable in 2026.Security DescriptionCUSIPTicker
SymbolDistributions
Per Share *Ordinary
Taxable
DividendSection
199A
DividendCapital Gain
DistributionReturn of
CapitalCommon Stock10482B101BHR$0.2000000$0.0000000$0.0000000$0.0000000$0.2000000Series B Cumulative
Convertible Preferred
Stock10482B200BHRPrB$1.3752000$0.0000000$0.0000000$0.0000000$1.3752000Series D Cumulative
Preferred Stock104823B09BHRPrD$2.0624000$0.0000000$0.0000000$0.0000000$2.0624000Series E Preferred Stock10482B606
$1.8750000$0.0000000$0.0000000$0.0000000$1.8750000Series E Preferred Stock10482B804
$1.8750000$0.0000000$0.0000000$0.0000000$1.8750000Series E Preferred Stock10482B812
$1.8750000$0.0000000$0.0000000$0.0000000$1.8750000Series E Preferred Stock10482B879
$1.8750000$0.0000000$0.0000000$0.0000000$1.8750000Series E Preferred Stock10482B788
$1.8750000$0.0000000$0.0000000$0.0000000$1.8750000Series E Preferred Stock10482B853
$1.8750000$0.0000000$0.0000000$0.0000000$1.8750000Series E Preferred Stock10482B838
$1.8750000$0.0000000$0.0000000$0.0000000$1.8750000Series M Preferred Stock10482B705
$2.1354100$0.0000000$0.0000000$0.0000000$2.1354100Series M Preferred Stock10482B887
$2.1291400$0.0000000$0.0000000$0.0000000$2.1291400Series M Preferred Stock10482B796
$2.1228800$0.0000000$0.0000000$0.0000000$2.1228800Series M Preferred Stock10482B861
$2.1166400$0.0000000$0.0000000$0.0000000$2.1166400Series M Preferred Stock10482B770
$2.1104000$0.0000000$0.0000000$0.0000000$2.1104000Series M Preferred Stock10482B846
$2.1041600$0.0000000$0.0000000$0.0000000$2.1041600Series M Preferred Stock10482B820
$2.0979200$0.0000000$0.0000000$0.0000000$2.0979200_______






* Distributions Per Share reflects the annual rate per share for distributions reportable in 2025.In accordance with IRS Code Section 6045B, the Company will post Form 8937, Report of Organizational Actions Affecting Basis of Securities, which may be found in the Corporate Actions section of the Company's website. This form provides detailed information on the return of capital amount of the common and preferred share distributions.The Company encourages stockholders to consult with their own tax advisors with respect to the federal, state and local, and foreign income tax effects of these dividends.*  *  *  *  *Braemar Hotels & Resorts Inc. (NYSE: BHR) is a real estate investment trust (REIT) focused on the high-growth luxury hotel and resort sector. The Company targets high-performance luxury urban and resort properties,  specializing in assets that generate revenue per available room (RevPAR) at least twice the U.S. national average. Its industry-leading portfolio features luxury properties across the United States and the U.S. territories in the Caribbean. Externally advised by Ashford Hospitality Advisors LLC, Braemar leverages deep industry expertise and disciplined asset management to drive outsized performance.Forward-Looking StatementsCertain statements and assumptions in this press release contain or are based upon "forward-looking" information and are being made pursuant to the safe harbor provisions of the federal securities regulations. Forward-looking statements are generally identifiable by use of forward-looking terminology such as "may," "will," "should," "potential," "intend," "expect," "anticipate," "estimate," "approximately," "believe," "could," "project," "predict," or other similar words or expressions. Additionally, statements regarding the following subjects are forward-looking by their nature: our business and investment strategy; anticipated or expected purchases, sales or dispositions of assets; our projected operating results; completion of any pending transactions; our ability to restructure existing property-level indebtedness; our ability to secure additional financing to enable us to operate our business; our understanding of our competition; projected capital expenditures; and the impact of technology on our operations and business. Such forward-looking statements are based on our beliefs, assumptions, and expectations of our future performance taking into account all information currently known to us. These beliefs, assumptions, and expectations can change as a result of many potential events or factors, not all of which are known to us. If a change occurs, our business, financial condition, liquidity, results of operations, plans, and other objectives may vary materially from those expressed in our forward-looking statements. You should carefully consider this risk when you make an investment decision concerning our securities. These and other risk factors are more fully discussed in the Company's filings with the SEC.The forward-looking statements included in this press release are only made as of the date of this press release. Investors should not place undue reliance on these forward-looking statements. We will not publicly update or revise any forward-looking statements, whether as a result of new information, future events or circumstances, changes in expectations or otherwise except to the extent required by law.



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Original: BRAEMAR HOTELS & RESORTS ANNOUNCES TAX REPORTING INFORMATION FOR 2025 COMMON AND PREFERRED SHARE DISTRIBUTIONS

BRAEMAR HOTELS & RESORTS DECLARES MONTHLY PREFERRED DIVIDENDS FOR JANUARY 2026January 26, 2026 1:00 PM
PR Newswire (US)

DALLAS, Jan. 26, 2026 /PRNewswire/ -- Braemar Hotels & Resorts Inc. (NYSE: BHR) (the "Company") announced today that its Board of Directors (the "Board") declared and the Company set aside a cash dividend for the Company's 5.5% Series B Cumulative Convertible Preferred Stock equal to: $0.1146 per diluted share which will be paid on April 15, 2026 to stockholders of record as of March 30, 2026.The Board declared and the Company set aside a cash dividend for the Company's 8.25% Series D Cumulative Preferred Stock equal to: $0.17187 per diluted share which will be paid on April 15, 2026 to stockholders of record as of March 31, 2026.The Board declared a monthly cash dividend for all CUSIPs of the Company's Series E Redeemable Preferred Stock, payable as follows: $0.15625 per share will be paid on February 17, 2026, to stockholders of record as of January 30, 2026.The Board declared a monthly cash dividend for CUSIPs 10482B705, 10482B887 and 10482B796 of the Company's Series M Redeemable Preferred Stock payable as follows: $0.17917 per share will be paid on February 17, 2026 to stockholders of record as of January 30, 2026.The Board declared a monthly cash dividend for all remaining CUSIPs of the Company's Series M Redeemable Preferred Stock payable as follows: $0.17708 per share will be paid on February 17, 2026 to stockholders of record as of January 30, 2026.As of December 31, 2025, there were 12,027,130 shares of the Company's Series E Redeemable Preferred Stock and 1,393,780 shares of the Company's Series M Redeemable Preferred Stock issued and outstanding.About Braemar Hotels & ResortsBraemar Hotels & Resorts Inc. (NYSE: BHR) is a real estate investment trust (REIT) focused on the high-growth luxury hotel and resort sector. The Company targets high-performance luxury urban and resort properties,  specializing in assets that generate revenue per available room (RevPAR) at least twice the U.S. national average. Its industry-leading portfolio features luxury properties across the United States and the U.S. territories in the Caribbean. Externally advised by Ashford Hospitality Advisors LLC, Braemar leverages deep industry expertise and disciplined asset management to drive outsized performance.Forward-Looking StatementsCertain statements and assumptions in this press release contain or are based upon "forward-looking" information and are being made pursuant to the safe harbor provisions of the federal securities regulations. Forward-looking statements are generally identifiable by use of forward-looking terminology such as "may," "will," "should," "potential," "intend," "expect," "anticipate," "estimate," "approximately," "believe," "could," "project," "predict," or other similar words or expressions. Additionally, statements regarding the following subjects are forward-looking by their nature: our business and investment strategy; anticipated or expected purchases, sales or dispositions of assets; our projected operating results; completion of any pending transactions; our ability to restructure existing property-level indebtedness; our ability to secure additional financing to enable us to operate our business; our understanding of our competition; projected capital expenditures; and the impact of technology on our operations and business. Such forward-looking statements are based on our beliefs, assumptions, and expectations of our future performance taking into account all information currently known to us. These beliefs, assumptions, and expectations can change as a result of many potential events or factors, not all of which are known to us. If a change occurs, our business, financial condition, liquidity, results of operations, plans, and other objectives may vary materially from those expressed in our forward-looking statements. You should carefully consider this risk when you make an investment decision concerning our securities. These and other risk factors are more fully discussed in the Company's filings with the SEC.The forward-looking statements included in this press release are only made as of the date of this press release. Investors should not place undue reliance on these forward-looking statements. We will not publicly update or revise any forward-looking statements, whether as a result of new information, future events or circumstances, changes in expectations or otherwise except to the extent required by law.



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Original: BRAEMAR HOTELS & RESORTS DECLARES MONTHLY PREFERRED DIVIDENDS FOR JANUARY 2026

84% increase in November.

Industry trying to make a comeback. If/whenever we break out of the ridiculous PlanDemic.... REIT's will soar!