The following is a summary of the Braemar Hotels & Resorts Inc. (BHR) Q3 2024 Earnings Call Transcript:

Financial Performance:

• Reported Comparable RevPAR was $261, indicating 6% growth in urban hotels.

• Comparable Hotel EBITDA stood at $24.7 million for the quarter.

• Managed a net loss of $1.4 million, or $0.02 per diluted share, with an AFFO of negative $0.24 per diluted share.

• Adjusted EBITDAre for the quarter was $18.5 million.

Business Progress:

• Successfully closed the sale of Hilton La Jolla Torrey Pines for $165 million, enhancing shareholder value.

• Completed refinancing involving five hotels with a new loan of $407 million, extending maturity and reducing interest cost.

• Current focus on refinancing the sole 2025 maturity.

• Engaged in ongoing renovations and operational improvements across various properties.

Opportunities:

• Urban hotels showed strong performance; anticipate continued momentum as the primary growth drivers.

• Shareholder Value Creation Plan includes asset sales, debt repayments, and share repurchase programs aimed at enhancing shareholder returns.

Risks:

• Notably, Ritz-Carlton in Sarasota suffered damage due to storm surge impacting October's operations, leading to group cancellations and a projected impact on Q4 results.

• Concerns over softening leisure demand, particularly affecting weekend occupancies at resort locations.

More details: Braemar Hotels & Resorts Inc IR

Tips: This article is generated by AI. The accuracy of the content can not be fully guaranteed. For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.