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BHR - Braemar Hotels & Resorts: Investors Should Stay On The Sidelines
Braemar Hotels & Resorts Inc.
Investment Thesis
Braemar Hotels & Resorts (BHR) delivered a solid Q4 2019 thanks to several of its renovation and conversion projects reaching completion last year. These projects should continue to contribute to its revenue favorably in 2020 if everything goes smoothly. However, due to the outbreak of coronavirus, we believe Braemar’s revenue and average daily rates will be impacted negatively. Hence, we are not optimistic about its total growth in 2020. Since visibility is limited, investors may want to stay on the sidelines.