BHR - Braemar Hotels & Resorts reports prelim Q1 operating results

Braemar Hotels & Resorts (NYSE:BHR) said Wednesday it expects to report occupancy of ~55% for Q1 with an average daily rate of ~$597 resulting in RevPAR of ~$328. This RevPAR reflects ~69% growth Y/Y and ~20% increase compared to Q1 of 2019. The prelim. operating results assume that the 15 hotel properties owned and included in BHR's operations at Mar. 31, 2022 were owned as of the start of 2019. "We closed on the acquisition of The Ritz-Carlton Reserve Dorado Beach in mid-March. This property is going to significantly increase our reported RevPAR going forward.  Assuming that we had owned the property throughout Mar., we would have achieved RevPAR of an unprecedented $404," said BHR CEO Richard Stockton.

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Braemar Hotels & Resorts reports prelim Q1 operating results