Company: BHR-PD
Filing Date: 2025-05-16
Form Type: PX14A6G
Source: 0001096906-25-000836
Chunk: 1

Company: Braemar Hotels & Resorts Inc.
Filing Date: 2025-05-16
Form: PX14A6G
Chunk 1
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 board has further entrenched BHR into it.

This is not governance—it’s self-preservation. The longer this board drags its feet, the more value is lost, and the less credible their fiduciary duty becomes.

The result is a company with billions in assets and no market credibility. Investors will not pay a fair value for BHR stock while Monty and Ashford remain embedded in operations, and shareholders’ voices are ignored.

Let us be clear: Ashford must go. Monty must go. There is no viable path forward for BHR while this structure and leadership remain in place.

If this board continues to ignore the expressed will of its owners, we will act.

Sincerely,

Alejandro Malbran
Managing Partner
Brancous LP1

amalbran@brancous.com

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