braemar hotels & resorts inc.
Braemar Hotels & Resorts Unveils The Notary Hotel, an Autograph Collection Property Opening Early Summer 2019 in Philadelphia
May 2, 2019
DALLAS, May 2, 2019 -- Braemar Hotels & Resorts Inc. (NYSE: BHR) ("Braemar" or the "Company") today announced the planned opening of The Notary Hotel in early summer 2019. Listed on the National Register of Historic Places, the former Courtyard by Marriott Philadelphia Downtown underwent a rebranding and renovation in excess of $20 million to create The Notary Hotel. Fusing Philadelphia's unique soul with its historic legacy, the hotel now joins Marriott International's Autograph Collection® Hotels, a diverse portfolio of 177 independent hotels around the world that reflect unique vision, design and craft. Originally designed by proli...
Braemar Hotels & Resorts Enters Agreement to Sell the Renaissance Tampa for $68 Million ($232,000 Per Key)
May 9, 2018
DALLAS, May 9, 2018 -- Braemar Hotels & Resorts Inc. (NYSE: BHR) ("Braemar" or the "Company") announced today that it has signed a definitive agreement to sell the 293-room Renaissance Tampa International Plaza hotel ("Renaissance Tampa" or the "Hotel") in Tampa, Floridafor $68 million ($232,000 per key). The sales price represents a trailing twelve-month cap rate of 8.2% on net operating income and a 10.0x Hotel EBITDA multiple as of March 31, 2018. The transaction is expected to close during the second quarter. The closing of the sale is also expected to complete a reverse 1031 exchange that...
Ashford Hospitality Prime Rebranding to Braemar Hotels & Resorts
April 23, 2018
DALLAS, April 23, 2018 -- Braemar Hotels & Resorts, Inc. (NYSE: BHR) ("Braemar" or "the Company"), formerly Ashford Hospitality Prime, Inc. (NYSE: AHP), today announced that it will change its name from Ashford Hospitality Prime to Braemar Hotels & Resorts, trading under the New York Stock Exchange ticker symbol BHR, effective before the market opens on April 24, 2018. Rebranding Ashford Hospitality Prime to Braemar Hotels & Resorts marks a key milestone in the Company's strategy to focus exclusively on owning luxury hotels and resorts in order to capitalize on the long-term superior performance of th...
