StockNews.AI
BHR
StockNews.AI
216 days

BRAEMAR HOTELS & RESORTS ANNOUNCES EXTENSION OF MORTGAGE LOAN SECURED BY THE RITZ-CARLTON LAKE TAHOE

1. BHR extended its mortgage on the Ritz-Carlton Lake Tahoe. 2. Loan maturity extended to January 2026 with a $10 million paydown. 3. Loan spread improved to SOFR + 3.25%, indicating better financing conditions. 4. Active discussions on a $293.2 million loan due in June 2023. 5. Optimistic outlook on hotel lending market conditions.

7m saved
Insight
Article

FAQ

Why Bullish?

The extension of the mortgage and improved loan conditions suggest increased financial stability. Past examples show that refinancing success can positively affect stock prices.

How important is it?

The article highlights key financial maneuvers that directly affect BHR's operational outlook. Successful debt management can influence investor confidence.

Why Short Term?

Immediate effects from loan extensions and market conditions are expected. Timely adjustments in debt structures usually have quick stock impacts.

Related Companies

BHR
, /PRNewswire/ -- Braemar Hotels & Resorts Inc. (NYSE: BHR) ("Braemar" or the "Company") announced today that it has successfully extended its mortgage loan secured by the 170-room Ritz-Carlton Lake Tahoe. The loan had an initial maturity date in January of 2025 and continues to have a final maturity date in January of 2026. The loan has been extended with a paydown of $10 million and the spread on the loan is now SOFR + 3.25%. "We are pleased to announce the extension of this loan and the lower spread," commented Richard Stockton, Braemar's President and Chief Executive Officer. "We are also in active discussions with lenders regarding our $293.2 million loan which has a maturity date in June of this year. The hotel lending market continues to improve, and we are optimistic about the prospects for improved financing conditions going forward." Braemar Hotels & Resorts is a real estate investment trust (REIT) focused on investing in luxury hotels and resorts. 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 Private Securities Litigation Reform Act of 1995. Forward-looking statements in this press release include, among others, statements about the Company's strategy and future plans. These forward-looking statements are subject to risks and uncertainties. When we use the words "will likely result," "may," "anticipate," "estimate," "should," "expect," "believe," "intend," or similar expressions, we intend to identify forward-looking statements. Such statements are subject to numerous assumptions and uncertainties, many of which are outside Braemar's control. These forward-looking statements are subject to known and unknown risks and uncertainties, which could cause actual results to differ materially from those anticipated, including, without limitation: our ability to repay, refinance or restructure our debt and the debt of certain of our subsidiaries; anticipated or expected purchases or sales of assets; our projected operating results; completion of any pending transactions; risks associated with our ability to effectuate our dividend policy, including factors such as operating results and the economic outlook influencing our board's decision whether to pay further dividends at levels previously disclosed or to use available cash to pay dividends; our understanding of our competition; market trends; projected capital expenditures; the impact of technology on our operations and business; general volatility of the capital markets and the market price of our common stock and preferred stock; availability, terms and deployment of capital; availability of qualified personnel; changes in our industry and the markets in which we operate, interest rates or the general economy; and the degree and nature of our competition. These and other risk factors are more fully discussed in Braemar's filings with the Securities and Exchange Commission. The forward-looking statements included in this press release are only made as of the date of this press release. 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. Investors should not place undue reliance on these forward-looking statements. The Company can give no assurance that these forward-looking statements will be attained or that any deviation will not occur. We are not obligated to 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. SOURCE Braemar Hotels & Resorts, Inc. WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

Related News