Braemar Hotels & Resorts (BHR) Misses Q3 EPS by 20c

Braemar Hotels & Resorts (NYSE: BHR) reported Q3 EPS of ($0.37), $0.20 worse than the analyst estimate of ($0.17).

• Net loss attributable to common stockholders for the quarter was $11.9 million or $0.37 per diluted share.
• Comparable RevPAR for all hotels decreased 2.0% to $234.81 during the quarter.
• Comparable RevPAR for all hotels not under renovation decreased 1.4% to $250.48 during the quarter.
• Adjusted funds from operations (AFFO) was $0.29 per diluted share for the quarter.
• Adjusted EBITDAre was $28.6 million for the quarter.
• During the quarter, the Company announced the planned opening of The Clancy, an Autograph Collection property, in downtown San Francisco. The re-branded property, a conversion of the Courtyard San Francisco Downtown, is expected to officially open in early 2020.
• During the quarter, the Company announced the opening of The Notary Hotel, an Autograph Collection property, in downtown Philadelphia. The re-branded property is a conversion of the Courtyard Philadelphia Downtown hotel.
• During the quarter, the Company announced it had completed an extension of its mortgage loan for the Ritz-Carlton St. Thomas.
• During the quarter, the Company refinanced its mortgage loan for the 142-room Pier House Resort & Spa in Key West, Florida.
• Subsequent to quarter end, the Company announced a plan to dispose of the Ashford Inc. shares it owns.
• Subsequent to quarter end, the Company announced the opening of The Maple Grove Presidential Villa at the Bardessono Hotel & Spa in Yountville, CA.
• Capex invested during the quarter was $35.5 million.

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

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