|Bid||5.04 x 1400|
|Ask||0.00 x 800|
|Day's Range||6.65 - 7.20|
|52 Week Range||1.14 - 7.48|
|Beta (5Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Earnings Date||May 19, 2021 - May 24, 2021|
|Forward Dividend & Yield||N/A (N/A)|
|Ex-Dividend Date||Dec 30, 2019|
|1y Target Est||8.50|
NEW YORK, NY / ACCESSWIRE / February 26, 2021 / Braemar Hotels & Resorts, Inc. (NYSE:BHR) will be discussing their earnings results in their 2020 Fourth Quarter Earnings call to be held on February 26, 2021 at 11:00 AM Eastern Time.
Braemar Hotels & Resorts, Inc. was one of the Benzinga Global Small-Cap Conference sponsors on December 8-9, 2020. The information contained in this article in no way represents investment advice or opinion on the part of Benzinga or its writers and is intended for informational purposes only. Real estate investment trusts (REITs) have always been an attractive investment for their tax benefits, portfolio diversification, and their tendency for above-average dividend yields. Much like every industry, however, COVID-19 impacted REITs creating significant uncertainties, especially to hotels and resorts. The current health emergency launched the global hospitality industry into unfamiliar territory and disrupted the market’s perception and economic growth. While undoubtedly 2020 was a slow year, with vaccines starting to roll out more broadly in 2021, things are slowly taking off. In fact, Braemar Hotels & Resorts, Inc. (NYSE: BHR), a real estate investment trust (REIT) company focused on investing in luxury hotels and resorts, has seen improvement sentiments with its stocks showing promising trading signs since the beginning of the year. This is what you need to know about it. Who Is Braemar Hotels & Resorts? With a market capitalization of $203 million, Braemar Hotels & Resorts is a conservatively capitalized REIT that invests primarily in high revenue per available room (RevPAR), full-service luxury hotels, and resorts. The company is externally-advised by Ashford (NYSE MKT: AINC), and management has significant personal wealth invested in the company with a 13% ownership. With 8 of its properties considered leisure and 5 classified as urban, Braemar Hotels & Resorts owns 13 hotels geographically diversified across many high markets. These properties include Ritz Carlton Napa Valley, Ritz Carlton Lake Tahoe, Capital Hilton just down the street from the White House in Washington, D.C., The Ritz Carlton in Sarasota and The Ritz Carlton in St. Thomas (the only luxury hotel in the Virgin Islands), among others. Currently, the company is marching toward its recovery phase with its post-COVID-19 strategy. In the past few months Leisure properties were recovering faster than urban properties, and Braemar is expecting this process to accelerate as vaccines are distributed and more people resume trips for holidays or business purposes. Hotel and Resort Recovery Trends for 2021 “The New Normal” priority is safety first. Hospitality companies understand that their frontline team is the backbone of their operations, so making sure they are committed to protecting their valuable workers is a must. Additionally, many are incorporating technology to support these initiatives to comply with new regulations. That is why the next trend for this year is digital transformation. In 2021, hospitality will continue to rely on digital solutions in relation to their customers and frontline workers. According to Hospitality Net in a recent summary of the Beekeeper Hospitality report, companies with mobile collaboration and productivity tools will continue to embrace bottom-up communication and discover how a fully connected frontline workforce can make their entire organization more resilient. Additionally, there will be a move toward lean operations management. It will be essential to find solutions to increase efficiency, productivity and revenue, and decrease spendings while maintaining customer service standards. Post-COVID-19 Strategic Initiatives for Ramp Up in 2021 Due to COVID-19, Braemer closed 11 of its 13 hotels and slowly reopened in October 2020. The company’s post-COVID-19 strategic initiatives are simple. Braemar Hotels & Resorts will continue to conserve liquidity, manage its balance sheet and focus on returning to profitability. As the hospitality industry recovers, the company expects to break even at the hotel level soon, reach corporate-level profitability in the middle of 2021, and move forward to grow its portfolio. 2020 Q3 Braemar Hotels & Resorts and the Future The company’s average daily rate of its properties was up year over year by 7%. 50% of its EBIT comes from The Ritz Carlton brand and 80% from Luxury Additional supply forecast dropped from 2.3% to 1.5%. The last quarter reported $88 million of cash available. Next hard debt maturity will be in 2022. A highly-aligned management team is among the highest insider equity ownership of publicly-traded hotel REITs. Adjusted funds from operations FFO available to the common stockholders and OP unitholders is $9,325,000. The company also announced that as of December 3, 2020, forward bookings for rooms revenue for December 2020 reflect a 39% decrease from the forward bookings for rooms revenue for December 2019, calculated as of the same time in the prior year). In addition, as of December 3, 2020, forward bookings for rooms revenue for January 2021 reflect a 36% decrease from the forward bookings for rooms revenue for January 2020, calculated as of the same time in the prior year. As of December 9, 2020, the average daily rate for all forward bookings through March 2021 is over $400. “We continue to be pleased with the recovery trends we’re seeing at our hotels during these challenging times,” said Richard J. Stockton, Braemar’s president and chief executive officer. 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The big shareholder groups in Braemar Hotels & Resorts, Inc. ( NYSE:BHR ) have power over the company. Large companies...