Braemar Hotels & Resorts ( (BHR) ) has shared an update.
Braemar Hotels & Resorts Inc. reported strong third-quarter performance, particularly from its urban hotels, which saw a 6% RevPAR growth year-over-year. The company addressed all 2024 debt maturities with the sale of Hilton La Jolla Torrey Pines and is focusing on refinancing its 2025 obligations. The ongoing Shareholder Value Creation Plan, including a $50 million preferred share redemption, aims to enhance financial flexibility, and with a 7.5% RevPAR increase in October, Braemar is positioned for future growth.
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