Braemar Hotels & Resorts (BHR) Misses Q1 EPS

Braemar Hotels & Resorts (NYSE: BHR) reported Q1 EPS of ($0.11), $0.21 worse than the analyst estimate of $0.10.

• Net loss attributable to common stockholders for the quarter was $3.5 million or $0.11 per diluted share.
• Actual RevPAR for all hotels increased 14.3% to $239.17 during the quarter.
• Comparable RevPAR for all hotels increased 3.0% to $242.75 during the quarter.
• Comparable RevPAR for all hotels not under renovation increased 2.6% to $263.13 during the quarter.
• Adjusted funds from operations (AFFO) was $0.44 per diluted share for the quarter.
• Adjusted EBITDAre was $34.8 million for the quarter, representing a 15.3% increase over the prior-year quarter.
• During the quarter, the Company entered into a $50 million Enhanced Return Funding Program agreement with Ashford Inc.
• During the quarter, the Company completed the acquisition of the 170-room Ritz-Carlton Lake Tahoe in Truckee, California.
• During the quarter, the Company refinanced a mortgage loan on 2 hotels with a new loan totaling $195 million.
• The Company announced the planned opening of the Notary Hotel, an Autograph Collection property, in downtown Philadelphia. The re-branded property, a conversion of the Courtyard Philadelphia Downtown, is expected to officially launch in early summer 2019.
• Capex invested during the quarter was $36.6 million.

For earnings history and earnings-related data on Braemar Hotels & Resorts (BHR) click here.

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