braemar
Braemar Hotels & Resorts to Acquire The Mr. C Beverly Hills Hotel for $65.4 Million
Braemar Hotels & Resorts | June 1, 2021
DALLAS, June 1, 2021 Luxury hotel ideally located in close proximity to high-end shopping on Rodeo Drive and business demand from Century City and Culver City. The Company will issue 2.5 million units in its Operating Partnership ("OP units") and 500,000 warrants to the seller as part of the consideration for this acquisition, in addition to $30 million of cash (the majority of which will be used to paydown existing debt). Attractive price per key of $474,000 for fee simple ownership of a luxury hotel. Revenue per available room (RevPAR) of $251.14 for the 12 months ended December 31, 2019. Remington will take over hotel mana...
Ashford Group of Companies to Return PPP Funds
Ashford Group | May 4, 2020
DALLAS -- May 4, 2020 -- The Ashford Group of Companies announced today that all of its companies, including Ashford Inc. (NYSE American: AINC), Ashford Hospitality Trust, Inc. (NYSE: AHT) ("Ashford Trust"), and Braemar Hotels & Resorts Inc. (NYSE: BHR) ("Braemar"), will return all funds provided by the Small Business Administration's ("SBA") Paycheck Protection Program ("PPP") due to the agency's recently changed rules and inconsistent federal guidance that put the companies at compliance risk. Federal Government assistance is required to repair the most significant damage in history to U.S. hotels and hospitality businesses cause...
