BRAEMAR HOTELS & RESORTS ANNOUNCES PRELIMINARY REVPAR RESULTS FOR THE FOURTH QUARTER OF 2021
DALLAS, January 6, 2022 / PRNewswire / – Braemar Hotels & Resorts Inc. (NYSE: BHR) (“Braemar” or the “Company”) today announced a preliminary portfolio occupancy rate of 60% for the month of december 2021 with an average daily rate (“ADR”) of approximately $ 494 resulting in a RevPAR of around $ 296. This RevPAR reflects an approximate 189% increase over december 2020 and an increase of approximately 29% compared to December 2019. The company forecasts an occupancy rate of 61% for the fourth quarter of 2021 with an ADR of approximately $ 393 resulting in a RevPAR of around $ 240. This RevPAR reflects an increase of approximately 163% from the fourth quarter of 2020 and an increase of approximately 7% from the fourth quarter of 2019.
“Driven by the incredibly strong performance of our luxury resorts, we are extremely pleased to announce that Braemar’s december 2021 RevPAR increased by approximately 29% compared to december 2019 and our Q4 2021 RevPAR increased 7% from Q4 2019, “said Richard J. Stockton, President and CEO of Braemar. “I am delighted to report that we have achieved the highest quarterly RevPAR in our company’s history and, as we head into 2022, we are excited about our opportunities to continue our growth. ”
Braemar Hotels & Resorts is a real estate investment trust (REIT) focused on investing in luxury hotels and resorts.
Certain statements and assumptions contained in this press release contain or are based on “forward-looking” information and are made in accordance with the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The forward-looking statements contained in this press release include , among others, statements on the strategy and future plans of the Company. These forward-looking statements are subject to risks and uncertainties. When we use the words “will likely result”, “may”, “anticipate”, “estimate”, “should”, “expect”, “believe”, “intend” or similar expressions, we have intend to identify statements. Such statements are subject to many assumptions and uncertainties, many of which are beyond Braemar’s control.
These forward-looking statements are subject to known and unknown risks and uncertainties, which could cause actual results to differ materially from those anticipated, including, without limitation: the impact of COVID-19, and the rate of adoption and effectiveness of vaccines to prevent COVID-19, on our business and investment strategy; the timing and outcome of the Securities and Exchange Commission investigation; our ability to repay, refinance or restructure our indebtedness and the indebtedness of some of our subsidiaries; anticipated or expected asset purchases or sales; our projected operating results; the completion of all pending transactions; our understanding of our competitors; market trends; projected capital expenditures; the impact of technology on our operations and businesses; general volatility in capital markets and the market price of our common and preferred shares; availability, conditions and deployment of capital; availability of qualified personnel; changes in our industry and the markets in which we operate, interest rates or the economy in general; and the degree and nature of our competitors. These and other risk factors are discussed in more detail in documents filed by Braemar with the Securities and Exchange Commission.
The forward-looking statements included in this press release speak only as of the date of this press release. These forward-looking statements are based on our beliefs, assumptions and expectations regarding our future performance, taking into account all the information currently available to us. These beliefs, assumptions and expectations can change due to many events or potential factors, not all of which we are aware of. If any change occurs, our business, financial condition, liquidity, results of operations, plans and other objectives may differ materially from those expressed in our forward-looking statements. You should carefully consider this risk when making an investment decision regarding our securities. Investors should not place undue reliance on these forward-looking statements. The Company cannot guarantee that these forward-looking statements will be achieved or that no deviations will occur. We are not obligated to publicly update or revise any forward-looking statements, whether as a result of new information, future events or circumstances, changes in expectations or otherwise, except to the extent required by law. law.
SOURCE Braemar Hotels & Resorts Inc.