# EDGAR Filing Document

**Accession Number:** 0001574085
**File Stem:** 0001574085-26-000068
**Filing Date:** 2026-4
**Character Count:** 12203
**Document Hash:** d285c740030d36397ea31000bb468830
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001574085-26-000068.hdr.sgml**: 20260430

**ACCESSION NUMBER**: 0001574085-26-000068

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 14

**CONFORMED PERIOD OF REPORT**: 20260427

**ITEM INFORMATION**: Entry into a Material Definitive Agreement

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20260430

**DATE AS OF CHANGE**: 20260430

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Braemar Hotels & Resorts Inc.
- **CENTRAL INDEX KEY:** 0001574085
- **STANDARD INDUSTRIAL CLASSIFICATION:** REAL ESTATE INVESTMENT TRUSTS [6798]
- **ORGANIZATION NAME:** 05 Real Estate & Construction
- **EIN:** 462488594
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-35972
- **FILM NUMBER:** 26927121

**BUSINESS ADDRESS:**
- **STREET 1:** 14185 DALLAS PARKWAY
- **STREET 2:** SUITE 1100
- **CITY:** DALLAS
- **STATE:** TX
- **ZIP:** 75254
- **BUSINESS PHONE:** (972) 490-9600

**MAIL ADDRESS:**
- **STREET 1:** 14185 DALLAS PARKWAY
- **STREET 2:** SUITE 1100
- **CITY:** DALLAS
- **STATE:** TX
- **ZIP:** 75254

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Ashford Hospitality Prime, Inc.
- **DATE OF NAME CHANGE:** 20130410

?xml version='1.0' encoding='ASCII'? bhr-20260427

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 8-K** 

**CURRENT REPORT**

**PURSUANT TO SECTION 13 OR 15(D)**

**OF THE SECURITIES EXCHANGE ACT OF 1934**

**Date of Report (date of earliest event reported): April 27, 2026** 

**BRAEMAR HOTELS & RESORTS INC.** 

**(Exact name of registrant as specified in its charter)**

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| | | |
|:---|:---|:---|
| Maryland | 001-35972 | 46-2488594 |
| *(State or other jurisdiction of incorporation or organization)* | *(Commission File Number)* | *(IRS employer identification number)* |
| 14185 Dallas Parkway |  |  |
| Suite 1200 |  |  |
| Dallas |  |  |
| Texas |  | 75254 |
| *(Address of principal executive offices)* |  | *(Zip code)* |

---

**Registrant's telephone number, including area code: (972) 490-9600** 

**Not Applicable**

**(Former name or former address, if changed since last report)**

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☑ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company&nbsp;&nbsp;&nbsp;&nbsp;☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Securities registered pursuant to Section 12(b) of the Act:

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| | | |
|:---|:---|:---|
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
| **Common Stock** | **BHR** | **New York Stock Exchange** |
| **Preferred Stock, Series B** | **BHR-PB** | **New York Stock Exchange** |
| **Preferred Stock, Series D** | **BHR-PD** | **New York Stock Exchange** |

---

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**ITEM 1.01&nbsp;&nbsp;&nbsp;&nbsp;ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT.**

On April 27, 2026, Ashford BC LP and Ashford TRS BC LLC ("<u>Ashford</u>"), indirect subsidiaries of Braemar Hotels & Resorts Inc. (the "<u>Company</u>"), entered into an Agreement of Purchase and Sale (the "<u>Agreement</u>") with Apres Owner, LLC for the sale of Park Hyatt Beaver Creek Resort & Spa located in Avon, Colorado for $176 million in cash, subject to customary pro-rations and adjustments. The sale is expected to close in the second quarter of 2026, subject to customary closing conditions. Net proceeds from the consummation of the sale pursuant to the Agreement will be used by the Company to redeem (i) its outstanding 4.50% Convertible Senior Notes due June 2026 and (ii) for general corporate purposes.

The Agreement contains terms, conditions, covenants, representations and warranties and indemnities from each of the respective parties that are customary and typical for a transaction of this nature. Several conditions to closing on the sale remain to be satisfied, and there can be no assurance that the sale transaction will be completed on the general terms described above or at all.

**ITEM 7.01&nbsp;&nbsp;&nbsp;&nbsp;REGULATION FD DISCLOSURE.**

A copy of the press release announcing the Company's entry into the Agreement is attached hereto as Exhibit 99.1.

The information in this Item 7.01 of this Form 8-K and Exhibit 99.1 attached hereto shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, except as shall be expressly set forth by specific reference in such filing.

**ITEM 9.01 &nbsp;&nbsp;&nbsp;&nbsp;FINANCIAL STATEMENTS AND EXHIBITS.**

(d)&nbsp;&nbsp;&nbsp;&nbsp;Exhibits

<u>Exhibit Number</u> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Description</u>

99.1&nbsp;&nbsp;&nbsp;&nbsp;<u>[Press Release of the Company, dated April 30, 2026](bhr2026beavercreekpsapr.htm)</u>

101&nbsp;&nbsp;&nbsp;&nbsp;Inline Interactive Data Files.

104&nbsp;&nbsp;&nbsp;&nbsp;Cover Page Interactive Data File (formatted in Inline XBRL and contained in Exhibit 101)

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**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

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| | | |
|:---|:---|:---|
| | BRAEMAR HOTELS & RESORTS INC. | BRAEMAR HOTELS & RESORTS INC. |
| Dated: April 30, 2026 | By: | /s/ Jim Plohg |
|  |  | Jim Plohg |
|  |  | Executive Vice President, General Counsel & Secretary |

---

## Exhibit 99.1

**EXHIBIT 99.1**

![braemara59a.jpg](braemara59a.jpg)

NEWS RELEASE

---

| | | |
|:---|:---|:---|
| Contact: | Allison Beach | Joseph Calabrese |
|  | Media Contact | Financial Relations Board |
|  | abeach@ashfordinc.com | (212) 827-3772 |

---

**BRAEMAR HOTELS & RESORTS ANNOUNCES AGREEMENT TO SELL PARK HYATT BEAVER CREEK RESORT & SPA**

DALLAS, April 30, 2026 – Braemar Hotels & Resorts Inc. (NYSE: BHR) ("Braemar" or the "Company") today announced that it has entered into a definitive agreement to sell the 193-room Park Hyatt Beaver Creek Resort & Spa for $176 million ($912,000 per key) and has received a $6.5 million non-refundable earnest money deposit. The sale price represents a 5.1% capitalization rate on net operating income for the trailing 12 months ended December 2025.

"The sale of this asset at a premium valuation is a significant milestone in our ongoing strategic review and sales process, underscoring the high quality of our portfolio," said Richard Stockton, Braemar's President and Chief Executive Officer. "Braemar intends to use the net proceeds to redeem its outstanding convertible notes in June."

The transaction is expected to close in May 2026, subject to customary conditions. The Company provides no assurances that the sale will be completed on these terms or at all.

**About Braemar Hotels & Resorts** 

Braemar Hotels & Resorts Inc. (NYSE: BHR) is a real estate investment trust (REIT) focused on the high-growth luxury hotel and resort sector. The Company targets high-performance luxury urban and resort properties, specializing in assets that generate revenue per available room (RevPAR) at least twice the U.S. national average. Its industry-leading portfolio features luxury properties across the United States and the U.S. territories in the Caribbean. Externally advised by Ashford Hospitality Advisors LLC, Braemar leverages deep industry expertise and disciplined asset management to drive outsized performance.

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| | |
|:---|:---|
| **Braemar Hotels & Resorts Inc.** | **Braemar Hotels & Resorts Inc.** |
| **Park Hyatt Beaver Creek Resort & Spa** | **Park Hyatt Beaver Creek Resort & Spa** |
| **Reconciliation of Hotel Net Income (Loss) to Hotel EBITDA and Hotel Net Operating Income** | **Reconciliation of Hotel Net Income (Loss) to Hotel EBITDA and Hotel Net Operating Income** |
| **(Unaudited, in millions)** | **(Unaudited, in millions)** |
| | **12 Months Ended** |
| | **December 31, 2025** |
| Net income (loss) | $(1.5) |
| Interest expense | 5.1 |
| Depreciation and amortization | 7.2 |
| Hotel EBITDA | $10.8 |
| Capital reserve | (1.8) |
| Hotel Net Operating Income | $9.0 |

---

_________

All information in this table is based upon unaudited operating financial data for the twelve month period ended December 31, 2025. This data has not been audited or reviewed by the Company's independent registered public accounting firm. The financial information presented could change.

*EBITDA is defined as net income (loss), computed in accordance with generally accepted accounting principles ("GAAP"), before interest, taxes, depreciation and amortization. Hotel EBITDA multiple is defined as the purchase price divided by the trailing 12 month EBITDA. A capitalization rate is determined by dividing the property's annual net operating income by the purchase price. Net operating income is the property's hotel EBITDA minus a capital expense reserve of 4% of gross revenue.*

***Forward-Looking Statements***

*Certain statements and assumptions in this press release contain or are based upon "forward-looking" information and are being made pursuant to the safe harbor provisions of the federal securities regulations. Forward-looking statements are generally identifiable by use of forward-looking terminology such as "may," "will," "should," "potential," "intend," "expect," "anticipate," "estimate," "approximately," "believe," "could," "project," "predict," or other similar words or expressions. Additionally, statements regarding the following subjects are forward-looking by their nature: our business and investment strategy; anticipated or expected purchases, sales or dispositions of assets; our projected operating results; completion of any pending transactions; our ability to restructure existing property-level indebtedness; our ability to secure additional financing to enable us to operate our business; our understanding of our competition; projected capital expenditures; and the impact of technology on our operations and business. Such forward-looking statements are based on our beliefs, assumptions, and expectations of our future performance taking into account all information currently known to us. These beliefs, assumptions, and expectations can change as a result of many potential events or factors, not all of which are known to us. If a change occurs, our business, financial condition, liquidity, results of operations, plans, and other objectives may vary materially from those expressed in our forward-looking statements. You should carefully consider this risk when you make an investment decision concerning our securities. These and other risk factors are more fully discussed in the Company's filings with the SEC.* 

*The forward-looking statements included in this press release are only made as of the date of this press release. Investors should not place undue reliance on these forward-looking statements. We will not publicly update or revise any forward-looking statements, whether as a result of new information, future events or circumstances, changes in expectations or otherwise except to the extent required by law.* 

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