BHR - Braemar Hotels & Resorts sees Q2 Adjusted FFO as high as $13.7M

Braemar Hotels & Resorts (BHR) announces preliminary results for Q2 ended June 30, 2021. The Company expects net loss of approx. ($16.3M) to ($14.9M) or ($0.34) to ($0.31) per share.Adjusted EBITDAre is anticipated in the range of $18.9M to $20.3M, with EBITDA of $13.4M to $14.8M.Estimated range of Adjusted FFO is between $12.3M to $13.7M.Final Q2 results will be released on July 29, 2021. "We are pleased with our second quarter results, which continue to be driven by the strong leisure demand at our properties, particularly at our luxury resorts," said Richard J. Stockton, President and CEO."These results were again propelled by impressive profit margins for the quarter due to high average daily rates and strong flow-throughs," he added.  Mr. Stockton continued, "For the second quarter in a row, we achieved positive corporate level cash flow."He concluded by saying, "Our bookings for the third quarter and beyond are also showing

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Braemar Hotels & Resorts sees Q2 Adjusted FFO as high as $13.7M