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Braemar Hotels Resorts Inc. (BHR) SEC Filing 10-Q Quarterly report for the period ending Monday, September 30, 2019

Braemar Hotels Resorts Inc.

HISTORY TOOLS
CIK: 1574085 Ticker: BHR

EXHIBIT 99.1

braemara21.jpg
NEWS RELEASE

Contact:
Deric Eubanks
Jordan Jennings
Joseph Calabrese
 
Chief Financial Officer
Investor Relations
Financial Relations Board
 
(972) 490-9600
(972) 778-9487
(212) 827-3772


BRAEMAR HOTELS & RESORTS REPORTS
THIRD QUARTER 2019 RESULTS
New Autograph Collection Property ‘The Notary Hotel’ Opened in Philadelphia
Announced Planned Opening of ‘The Clancy’ in San Francisco in Early 2020
The Maple Grove Presidential Villa Opened at the Bardessono Hotel & Spa
Announced Extension of Mortgage Loan for Ritz-Carlton St. Thomas
Announced Plan to Dispose of Ashford Inc. Shares
Completed Refinancing of Pier House Resort & Spa
$4.0 Million in Business Interruption Income Booked in the 3rd Quarter

DALLAS - October 30, 2019 - Braemar Hotels & Resorts Inc. (NYSE: BHR) (“Braemar” or the “Company”) today reported the following results and performance measures for the third quarter ended September 30, 2019. The comparable performance measurements for Occupancy, Average Daily Rate (ADR), Revenue Per Available Room (RevPAR), and Hotel EBITDA assume each of the hotel properties in the Company’s hotel portfolio as of September 30, 2019 were owned as of the beginning of each of the periods presented. Unless otherwise stated, all reported results compare the third quarter ended September 30, 2019, with the third quarter ended September 30, 2018 (see discussion below). The reconciliation of non-GAAP financial measures is included in the financial tables accompanying this press release.

STRATEGIC OVERVIEW
•
Focused strategy of investing in luxury hotels and resorts
•
Targets conservative leverage levels of 45% Net Debt to Gross Assets
•
Highly-aligned management team and advisory structure
•
Dividend yield of approximately 7.0%

FINANCIAL AND OPERATING HIGHLIGHTS
•
Net loss attributable to common stockholders for the quarter was $11.9 million or $0.37 per diluted share.
•
Comparable RevPAR for all hotels decreased 2.0% to $234.81 during the quarter.
•
Comparable RevPAR for all hotels not under renovation decreased 1.4% to $250.48 during the quarter.
•
Adjusted funds from operations (AFFO) was $0.29 per diluted share for the quarter.
•
Adjusted EBITDAre was $28.6 million for the quarter.
•
During the quarter, the Company announced the planned opening of The Clancy, an Autograph Collection property, in downtown San Francisco. The re-branded property, a conversion of the


The following information was filed by Braemar Hotels Resorts Inc. (BHR) on Wednesday, October 30, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Assess how Braemar Hotels Resorts Inc.'s management team is paid from their Annual Proxy

Definitive Proxy Statement (Form DEF 14A)
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Braemar Hotels Resorts Inc.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2019 10-K Annual Report includes:

  • Voting Procedures
  • Board Members
  • Executive Team
  • Salaries, Bonuses, Perks
  • Peers / Competitors

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Inside Braemar Hotels Resorts Inc.'s 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Condensed Consolidated Balance Sheets
Condensed Consolidated Balance Sheets (Parenthetical)
Condensed Consolidated Statements Of Cash Flows
Condensed Consolidated Statements Of Cash Flows (Parenthetical)
Condensed Consolidated Statements Of Comprehensive Income (Loss)
Condensed Consolidated Statements Of Equity
Condensed Consolidated Statements Of Operations
5.5% Series B Cumulative Convertible Preferred Stock
5.5% Series B Cumulative Convertible Preferred Stock (Details)
5.5% Series B Cumulative Convertible Preferred Stock (Tables)
Commitments And Contingencies
Commitments And Contingencies - Narrative (Details)
Derivative Instruments
Derivative Instruments (Details)
Derivative Instruments (Tables)
Equity And Stock-Based Compensation
Equity And Stock-Based Compensation (Details)
Equity And Stock-Based Compensation (Tables)
Fair Value Measurements
Fair Value Measurements (Details)
Fair Value Measurements (Tables)
Hotel Dispositions
Hotel Dispositions (Details)
Hotel Dispositions (Tables)
Income (Loss) Per Share
Income (Loss) Per Share (Antidilutive) (Details)
Income (Loss) Per Share (Reconciliation) (Details)
Income (Loss) Per Share (Tables)
Indebtedness
Indebtedness (Details)
Indebtedness (Tables)
Investment In Hotel Properties, Net
Investment In Hotel Properties, Net (Details)
Investment In Hotel Properties, Net (Tables)
Investment In Hotel Properties, Net - Acquisition (Details)
Investment In Hotel Properties, Net - Impairment Charges And Insurance Recoveries (Details)
Investment In Unconsolidated Entity
Investment In Unconsolidated Entity (Details)
Investment In Unconsolidated Entity (Tables)
Leases
Leases (Tables)
Leases - Future Minimum Lease Payments (Details)
Leases - Lease Cost And Other Information (Details)
Leases - Maturities Of Operating Lease Liabilities (Details)
Leases - Narrative And Lease Balances (Details)
Organization And Description Of Business
Organization And Description Of Business (Details)
Redeemable Noncontrolling Interests In Operating Partnership
Redeemable Noncontrolling Interests In Operating Partnership (Details)
Redeemable Noncontrolling Interests In Operating Partnership (Tables)
Related Party Transactions
Related Party Transactions (Details)
Related Party Transactions (Tables)
Revenue
Revenue (Details)
Revenue (Tables)
Segment Reporting
Segment Reporting (Details)
Significant Accounting Policies
Significant Accounting Policies (Details)
Significant Accounting Policies (Policies)
Subsequent Events
Subsequent Events (Details)
Summary Of Fair Value Of Financial Instruments
Summary Of Fair Value Of Financial Instruments (Carrying Amounts And Estimated Fair Values Of Financial Instruments) (Details)
Summary Of Fair Value Of Financial Instruments (Tables)
Summary Of Fair Value Of Financial Instruments - Narrative (Details)

Material Contracts, Statements, Certifications & more

Braemar Hotels Resorts Inc. provided additional information to their SEC Filing as exhibits

Exhibit 31.1: Rule 13A-14(A)/15D-14(A) Certification
Exhibit 31.2: Rule 13A-14(A)/15D-14(A) Certification
Exhibit 32.1: Section 1350 Certification
Exhibit 32.2: Section 1350 Certification
Ticker: BHR
CIK: 1574085
Form Type: 10-Q Quarterly Report
Accession Number: 0001574085-19-000066
Submitted to the SEC: Wed Nov 06 2019 11:21:44 AM EST
Accepted by the SEC: Wed Nov 06 2019
Period: Monday, September 30, 2019
Industry: Real Estate Investment Trusts

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