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Reported Earlier, Braemar Hotels & Resorts Unveils Comprehensive Shareholder Value Plan: $165M Hotel Sale, Debt Repayment, And $50M Share Buybacks Authorization

Author: Benzinga Newsdesk | May 07, 2024 04:43am

 Braemar Hotels & Resorts Inc. (NYSE:BHR) ("Braemar" or the "Company"), reflecting its commitment to creating long-term value for shareholders, today announced notable capital market activities and strategic updates, including:

  • The sale of Hilton Torrey Pines for $165 million, while evaluating the sale of two other hotels,
  • The repayment of its remaining 2024 debt maturities,
  • A $50 million preferred share redemption program, and
  • A $50 million common share buyback authorization

Posted In: BHR


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