BRAEMAR HOTELS & RESORTS ANNOUNCES AGREEMENT TO SELL PARK HYATT BEAVER CREEK RESORT & SPA (Form 8-K)

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

DALLAS, April 30, 2026 - 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 & Resorts

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.

Braemar Hotels & Resorts Inc.
Park Hyatt Beaver Creek Resort & Spa
Reconciliation of Hotel Net Income (Loss) to Hotel EBITDA and Hotel Net Operating Income
(Unaudited, in millions)
						12 Months Ended
						December 31, 2025
Net income (loss)						$	(1.5)
Interest expense						5.1
Depreciation and amortization						7.2
Hotel EBITDA						$	10.8
Capital 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.