BHR - Braemar Hotels & Resorts' October prelim RevPAR rose 12%

Braemar Hotels & Resorts (NYSE:BHR) reports October prelim portfolio occupancy of 62.5% with an average daily rate of ~$337 leading to RevPAR of ~$211 (+12% M/M, -13% from October 2019 levels). Hotel net income was $2.3M, comparable Hotel EBITDA stood at $9.8M, a 108% increase versus September 2021's comparable Hotel EBITDA of $4.7M. "We are pleased to report that during the month of October all of our urban properties achieved positive Hotel EBITDA as business transient demand continued to improve across our markets. Additionally, our resort properties continued to capitalize on strong leisure demand as seven of the eight resort properties achieved positive Hotel EBITDA in October with the eighth property being only $6K negative for the month," president & CEO Richard J. Stockton commented.

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Braemar Hotels & Resorts' October prelim RevPAR rose 12%