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Get filing alertsBraemar sells $613.5M in hotels, posts record Q2 RevPAR up 12.3%
Filed August 5, 2026 · Period ending August 5, 2026 · ~1 min read
Key Changes
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Closed sale of Park Hyatt Beaver Creek for $176M ($912K/key, 4.6% cap rate) and three additional properties for $437.5M; entered definitive agreement to sell Pier House Resort for $190M with $6M non-refundable deposit received.
Exhibit 99.1 view on EDGAR → -
high
Achieved record Q2 RevPAR of $396, up 12.3% year-over-year, driven by 13.1% ADR growth to $545 while occupancy held at 72.6%; comparable hotel EBITDA rose 14.2% to $48.4M with 93bp margin expansion to 28.6%.
Exhibit 99.1 view on EDGAR → -
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Extended $43.4M Ritz-Carlton Lake Tahoe mortgage from July 15 to October 15, 2026 at SOFR+325bp, with option for additional three-month extension on same terms.
Exhibit 99.1 view on EDGAR → -
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Redeemed $16.3M of non-traded preferred stock in cash during the quarter, reducing preferred equity obligations.
Exhibit 99.1 view on EDGAR →
Summary
Braemar Hotels reported a transformative second quarter marked by $613.5 million in completed and contracted asset sales alongside record operating performance. The company closed the sale of Park Hyatt Beaver Creek for $176 million in May, then sold three additional properties (Ritz-Carlton Sarasota, Hotel Yountville, and Bardessono) for $437.5 million in July.
A fourth sale—Pier House Resort for $190 million—is under definitive agreement with a $6 million non-refundable deposit in hand. These dispositions represent a significant portfolio repositioning as Braemar transitions to self-management following its announced management spin-out. Operating results demonstrated strong pricing power in the company's remaining luxury portfolio.
Second-quarter RevPAR reached a record $396, up 12.3% year-over-year, driven almost entirely by a 13.1% increase in average daily rate to $545 while occupancy remained essentially flat at 72.6%. Comparable hotel EBITDA grew 14.2% to $48.4 million with margin expansion of 93 basis points to 28.6%, reflecting the supply-constrained dynamics in luxury markets. The company also extended its $43.4 million Ritz-Carlton Lake Tahoe mortgage by three months to October 2026 at SOFR plus 325 basis points, providing near-term refinancing flexibility, and redeemed $16.3 million of non-traded preferred stock as part of its capital structure optimization.
Section-by-Section Diff
Event · Exhibit 99.1
Braemar Hotels reported Q2 2026 results with record RevPAR growth of 12.3%, sold five properties for $613.5M, and extended Lake Tahoe loan maturity.
Added in current filing · view on EDGAR →
Subsequent to quarter end, the Company announced on July 14, 2026 that it closed on the sale of the Ritz-Carlton Sarasota, the Hotel Yountville and the Bardessono Hotel and Spa for a total purchase price of $437.5 million in cash, subject to customary prorations and adjustments. In addition, on July 13, 2026, the Company entered into a definitive agreement to sell the Pier House Resort & Spa for $190.0 million ($1.3 million per key) and received a $6.0 million non-refundable earnest money deposit in connection with the sale.
Braemar closed the sale of three properties for $437.5 million and entered into a definitive agreement to sell Pier House Resort for $190 million ($1.3 million per key), with a $6 million non-refundable deposit received. Combined with the Park Hyatt Beaver Creek sale, these transactions total $803.5 million in asset dispositions, significantly advancing the company's management spin-out and self-management transition.
Added in current filing · view on EDGAR →
On June 29, 2026, the Company announced that it has extended its $43.4 million mortgage loan secured by the 170-room Ritz-Carlton Lake Tahoe. The loan had an initial maturity date of July 15, 2026 and now has a maturity date of October 15, 2026. The extended loan is priced at SOFR + 325 basis points. A further three-month maturity extension is also available at the Company's discretion on the same terms.
Braemar extended the $43.4 million Ritz-Carlton Lake Tahoe mortgage from July 15, 2026 to October 15, 2026, priced at SOFR plus 325 basis points, with an additional three-month extension option available. This provides near-term refinancing flexibility for a property that faced challenging snow conditions during the quarter.
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Figures/quotes linked to EDGAR · Narrative written by AI · Aug 6, 2026 · How we verify