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Braemar Hotel & Resorts Inc

Braemar Hotels & Resorts Inc. is a real estate investment trust focused on the luxury hotel and resort sector. The company targets high-performance luxury urban and resort properties, specializing in assets that generate revenue per available room at least twice the U.S. national average. Its portfolio includes luxury properties across the United States and U.S. territories in the Caribbean. Braemar was established in 2013 and incorporated in Maryland.

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Price · split & dividend adjusted
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United States
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Al Shams to Nominate Majority Slate for Braemar Board

Al Shams Investments Limited, the largest shareholder of Braemar Hotels & Resorts Inc., has announced its intention to nominate a full slate of independent directors sufficient to change control of the board, following what it calls an extraordinarily short nomination window set by the company. In a letter to shareholders, Al Shams criticized Braemar's announcement of the September 14 deadline just before a holiday weekend as a governance maneuver designed to keep shareholders off guard. The Bermuda-based investment firm, which holds 6,513,000 shares of Braemar common stock, plans to present five nominees who, if elected, will work to safeguard shareholder interests. Al Shams and Wafic Rida Said are the participants in the proxy solicitation, and they will file a definitive proxy statement with the SEC.
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BHR · Regulation · Negative Al Shams, Braemar's largest shareholder, is launching a proxy fight to nominate a majority slate and change control of the board, citing a governance maneuver.
Al Shams Investments Limited · Regulation · Positive Al Shams is acting to safeguard shareholder interests by nominating five independent directors to change control of Braemar's board.
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PR Newswire·29dRead more →
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Brancous LP1 urges Braemar board to stop attacking shareholders, renegotiate Ashford payment

Brancous LP1, a shareholder of Braemar Hotels & Resorts, has called on the company's board to cease what it describes as attacks on shareholders and instead renegotiate the Ashford termination payment, distribute excess cash, and let shareholders elect an independent board. The investor argues the board is pursuing a 'stealth liquidation' by selling over 30% of gross asset value to trigger a change-of-control payment to Ashford, bypassing a shareholder vote. Brancous estimates the payment at roughly $7.00 per share, nearly three times the current stock price, and says the board should have first negotiated a lower fee. It demands a special dividend of at least $1.00 per share from the approximately $100 million in cash on hand and insists that directors with prior relationships to Ashford's chairman should not decide the payment.
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BHR · Capital · Positive Activist investor demands board stop attacks, renegotiate payment, distribute cash, and allow independent board election, which could unlock value.
Ashford Inc · Capital · Negative Activist criticizes change-of-control payment to Ashford, potentially reducing or renegotiating the fee.
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GlobeNewswire·85dRead more →
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