Braemar Hotels & Resorts Completes Acquisition

TL;DR

BHR just closed a deal, filing an 8-K with financials. Details TBD.

AI Summary

On July 17, 2024, Braemar Hotels & Resorts Inc. (BHR) filed an 8-K detailing the completion of an acquisition. The filing also includes financial statements and exhibits related to this event. Specific details regarding the acquired assets or the transaction value were not immediately available in the provided text.

Why It Matters

This filing indicates a significant strategic move by Braemar Hotels & Resorts, potentially impacting its portfolio and future revenue streams.

Risk Assessment

Risk Level: medium — Acquisitions carry inherent risks related to integration, financing, and market reception, which could impact the company's financial performance.

Key Players & Entities

• Braemar Hotels & Resorts Inc. (company) — Registrant
• July 17, 2024 (date) — Date of Report
• Maryland (jurisdiction) — State of Incorporation
• 001-35972 (identifier) — SEC File Number
• 46-2488594 (identifier) — IRS Employer Identification Number
• 14185 Dallas Parkway Suite 1200 Dallas Texas 75254 (address) — Business Address

FAQ

Key Financial Figures

• $165 million — ines Hotel Owner LLC, as purchaser, for $165 million in cash, subject to customary pro-ratio

Filing Documents

• bhr-20240717.htm (8-K) — 30KB
• bhrtorreypinesclosingpr.htm (EX-99.1) — 23KB
• image_0a.jpg (GRAPHIC) — 21KB
• 0001574085-24-000178.txt ( ) — 256KB
• bhr-20240717.xsd (EX-101.SCH) — 2KB
• bhr-20240717_def.xml (EX-101.DEF) — 16KB
• bhr-20240717_lab.xml (EX-101.LAB) — 28KB
• bhr-20240717_pre.xml (EX-101.PRE) — 17KB
• bhr-20240717_htm.xml (XML) — 5KB

01 COMPLETION OF ACQUISITION OR DISPOSITION OF ASSETS

ITEM 2.01 COMPLETION OF ACQUISITION OR DISPOSITION OF ASSETS. On July 17, 2024, CHH Torrey Pines Hotel Partners, LP and CHH Torrey Pines Tenant Corp (together "Seller"), indirect subsidiaries of Braemar Hotels & Resorts Inc. (the "Company"), completed the sale of the Hilton La Jolla Torrey Pines hotel ("Hilton Torrey Pines") pursuant to an Agreement of Purchase and Sale, entered into effective May 6, 2024, by and among Seller and JRK Torrey Pines Hotel Owner LLC, as purchaser, for $165 million in cash, subject to customary pro-rations and adjustments. The Company owns an indirect 75% equity interest in Seller.

01 REGULATION FD DISCLOSURE

ITEM 7.01 REGULATION FD DISCLOSURE. On July 17, 2024, the Company issued a press release announcing the closing of the sale of the Hilton Torrey Pines. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference. The information in this Item 7.01 and Exhibit 99.1 attached hereto shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, nor shall it be deemed incorporated by reference in any filing under the Securities Act, except as shall be expressly set forth by specific reference in such filing.

01 FINANCIAL STATEMENTS AND EXHIBITS

ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS. (b) Pro Forma Financial Information. To the extent pro forma financial information is required to be filed by this item, such financial information will be filed by amendment to this Current Report on Form 8-K within four business days following the closing date of the sale transaction. (d) Exhibits Exhibit Number Description 99.1 Press Release of the Company, dated July 17, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. BRAEMAR HOTELS & RESORTS INC. Dated: July 17, 2024 By: /s/ Alex Rose Alex Rose Executive Vice President, General Counsel & Secretary

View Full Filing

View this 8-K filing on SEC EDGAR