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Get filing alertsBraemar Hotels sells three luxury properties for $432.7M, repays $232.8M in debt
Filed July 17, 2026 · Period ending July 13, 2026 · ~1 min read
Key Changes
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high
Completed sale of The Ritz-Carlton Sarasota, Hotel Yountville, and Bardessono Hotel for $432.7M net cash, generating an estimated $158.2M gain and reducing portfolio by three properties.
Item 2.01 verify on EDGAR → -
high
Repaid $232.8M in mortgage debt secured by the sold properties, reducing leverage and future interest expense.
Exhibit 99.1 view on EDGAR → -
high
Entered into agreement to sell Pier House Resort & Spa in Key West for $190M cash, subject to closing conditions with no guarantee of completion.
Item 1.01 verify on EDGAR → -
medium
Pro forma cash position increased to $281.6M from $93.4M after applying net proceeds and debt paydown; sold properties contributed $93.9M in 2025 revenue.
Exhibit 99.1 view on EDGAR →
Summary
Braemar Hotels completed a major portfolio repositioning, selling three luxury properties—The Ritz-Carlton Sarasota and two Yountville, California hotels—for $432.7 million net cash on July 14, 2026. The company immediately deployed $232.8 million of proceeds to repay mortgage debt on those properties, strengthening its balance sheet with pro forma cash rising to $281.6 million.
The transaction generated an estimated $158.2 million gain, though the filing notes this is preliminary. The three properties contributed $93.9 million in revenue during 2025, representing a meaningful reduction in operating scale.
Separately, Braemar entered into a binding agreement to sell the Pier House Resort & Spa in Key West for $190 million cash, though this transaction remains subject to closing conditions with no guarantee of completion. Combined, these moves signal an active capital recycling strategy, trading operating assets for cash and debt reduction. Retail holders should monitor whether the Pier House sale closes and how management redeploys the substantial cash position—whether through debt reduction, acquisitions, buybacks, or dividends.
Section-by-Section Diff
Event · Item 1.01 — Entry into a Material Definitive Agreement
Item 1.01 — Entry into a Material Definitive Agreement filed; see Key Changes for terms.
Added in current filing · verify on EDGAR →
On July 13, 2026, Ashford Pier House LP and Ashford TRS Pier House LLC, indirect subsidiaries of Braemar Hotels & Resorts Inc. (the “Company”), entered into an Agreement of Purchase and Sale (the “Agreement”) with Last Mango Owner LLC following the conclusion of the Study Period (as defined in the Agreement), for the sale of the Pier House Resort & Spa located in Key West, Florida for a total purchase price of $190.0 million in cash, subject to customary prorations and adjustments.
The Company's subsidiaries entered into a binding purchase agreement to sell the Pier House Resort & Spa property in Key West, Florida for $190 million in cash. The agreement was signed after the buyer completed its due diligence study period. The transaction remains subject to customary closing conditions and there is no guarantee it will close.
Event · Exhibit 99.1
Braemar sold three hotels for $432.7M and repaid $232.8M in mortgage debt, generating a $158.2M gain.
Added in current filing · view on EDGAR →
On July 14, 2026, Braemar Hotels & Resorts Inc. (“Braemar” or the “Company”) completed the sale of: (i) The Ritz-Carlton Sarasota located in Sarasota, Florida (“The Ritz-Carlton Sarasota”); (ii) Hotel Yountville located in Yountville, California; and (iii) the Bardessono Hotel and Spa (“Bardessono Hotel”) located in Yountville, California for approximately $432.7 million in cash, net of transfer taxes and selling expenses.
Braemar completed the sale of three hotel properties — The Ritz-Carlton Sarasota, Hotel Yountville, and Bardessono Hotel — for approximately $432.7 million in cash, net of transfer taxes and selling expenses. The pro forma financials show these properties contributed $93.9 million in total hotel revenue for the year ended December 31, 2025, and $32.8 million for the three months ended March 31, 2026.
Added in current filing · view on EDGAR →
Additionally, the Company repaid approximately $232.8 million on the mortgage loan partially secured by the three hotel properties.
Braemar used a portion of the sale proceeds to repay approximately $232.8 million on the mortgage loan that was partially secured by the three sold properties. This debt reduction lowers the company's leverage and interest expense going forward.
Added in current filing · view on EDGAR →
Represents adjustments for the Company’s disposition of: The Ritz-Carlton Sarasota, Hotel Yountville and the Bardessono Hotel, which includes: (i) the estimated non-recurring gain on the disposition of the hotel properties for the year ended December 31, 2025
The pro forma financials reflect an estimated non-recurring gain of $158.2 million from the disposition. The filing notes this gain is preliminary and actual results may differ. The gain boosted pro forma net income attributable to common stockholders from a loss of $72.7 million to income of $96.7 million for the year ended December 31, 2025.
Added in current filing · view on EDGAR →
The unaudited pro forma consolidated balance sheet assumes the disposition closed on March 31, 2026. The unaudited pro forma consolidated statements of operations for the year ended December 31, 2025, and the three months ended March 31, 2026, assumes the disposition closed on January 1, 2025.
The filing provides unaudited pro forma financials showing what Braemar's results would have looked like if the sale had occurred at the start of 2025. Pro forma total hotel revenue for 2025 would have been $575.5 million versus historical $704.0 million, reflecting the removal of the three properties' operations. Pro forma cash and cash equivalents increased to $281.6 million from $93.4 million after applying the net proceeds and debt paydown.
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Figures/quotes linked to EDGAR · Narrative written by AI · Jul 20, 2026 · How we verify