BHR sells 4 hotels for $613M, incurs $480M advisory termination fee, faces shareholder litigation

Filed August 6, 2026 · Period ending June 30, 2026 · Compared to 10-Q Aug 11, 2025 · ~2 min read

Key Changes

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  Sold Park Hyatt Beaver Creek ($176M) and three other properties ($437.5M) in Q2/July 2026, repaid $303M debt, and triggered $480M Company Sale Fee to Ashford Inc. (paid $173M, $307M outstanding). Portfolio reduced from 15 to 12 hotels.

  MD&A: Asset Sales & Company Sale Fee verify on EDGAR →
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  Announced June 12, 2026 plan to terminate Ashford advisory agreement and transition to self-management, projecting $25M+ annual G&A savings. Certain shareholders publicly oppose the plan and have indicated intent to pursue legal remedies that could delay or prevent the transition.

  Legal Proceedings & Risk Factors: Self-Management Transition verify on EDGAR →
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  Operating income rose 71% to $30.6M (Q2 2026 vs Q2 2025) on 12.9% ADR growth to $537.64 for comparable properties, partially offset by $17.4M gain on Park Hyatt Beaver Creek sale. Revenue declined 4.5% to $171.0M as portfolio contracted.

  MD&A: Operating Results verify on EDGAR →