Braemar Hotels & Resorts Inc. (NYSE: BHR), a Dallas-based real estate investment trust (REIT) focused on investing in luxury hotels and resorts, has begun the process of putting itself up for sale.
The company and its financial advisor, Robert W. Baird & Co. Inc., is now soliciting interest from potential buyers and coordinating customary information sharing ahead of a potential sale. Braemar’s portfolio includes nine resort and five urban properties operated under multiple brands including Ritz-Carlton Reserve, Four Seasons, Ritz Carlton, Park Hyatt, Autograph Collection by Marriott, Hilton, and Sofitel.
Braemar added that its portfolio recorded year-to-date RevPAR growth of 2.9% through June 30, compared to the overall US hotel industry RevPAR growth of 0.8% for the same period.
Richard Stockton, CEO of Braemar Hotels & Resorts, announced the pursuit of a buyer by stating, “We’ve built a high-quality portfolio that is well-positioned to attract significant interest from private market buyers. With improving economic conditions, continued strength in industry performance, limited new room supply, and healthy consumer spending, I believe we are entering a favorable environment for a potential sale.”
