Braemar Hotels & Resorts (BHR) Tops Q4 EPS by 51c, Revenues Beat

Braemar Hotels & Resorts (NYSE: BHR) reported Q4 EPS of $0.36, $0.51 better than the analyst estimate of ($0.15). Revenue for the quarter came in at $121.7 million versus the consensus estimate of $116.98 million.

"We continue to diligently execute on our strategic objectives focusing on the luxury hotel segment,\" said Richard J. Stockton, Braemar's President and Chief Executive Officer. "Throughout 2019, we consistently made progress on our portfolio repositioning, capital investment, and the asset management front. We recently completed the renovation of the Ritz-Carlton St. Thomas, which reopened in November, and also completed The Maple Grove Presidential Villa at the Bardessono. We remain excited that the renovation and rebranding of the Courtyard Downtown San Francisco to The Clancy, an Autograph Collection Hotel, will be completed this May. Additionally, with our recent refinancing activity, we have pushed out our debt maturities while also lowering our cost of debt. We will continue to look for opportunities to maximize value for our shareholders and remain focused on delivering solid operational performance. Heading into 2020, we believe our portfolio is well-positioned and has unique aspects that are expected to result in opportunities for RevPAR outperformance."

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

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