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BRAEMAR HOTELS & RESORTS ANNOUNCES REFINANCING OF FOUR SEASONS RESORT SCOTTSDALE

1. BHR refinanced $140 million mortgage to $180 million loan at lower interest. 2. New loan enhances liquidity and reduces the cost of debt. 3. Refinancing illustrates improvement in credit market for lodging assets. 4. Loan features a three-year term with two extension options. 5. BHR focuses on luxury hotels and resorts as a REIT.

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Why Bullish?

The refinancing improves BHR's financial position by reducing debt costs, which historically tends to bolster stock prices. Similar refinancings in the past have positively impacted other REITs by increasing investor confidence in management's financial strategies.

How important is it?

The refinancing deal significantly impacts BHR's liquidity and operational flexibility, crucial for investors evaluating REIT performance.

Why Short Term?

Immediate liquidity benefits could translate into quicker operational investments, impacting short-term performance positively. Recent refinancing success in real estate markets has shown rapid stock price responses in similar cases.

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, /PRNewswire/ -- Braemar Hotels & Resorts Inc. (NYSE: BHR) ("Braemar" or the "Company") announced today that it has successfully refinanced the existing mortgage loan secured by the Four Seasons Resort Scottsdale at Troon North. The previous loan had a balance of $140 million with an interest rate of SOFR + 3.75% and a final maturity in December 2028. The new non-recourse loan has a balance of $180 million and bears interest at a floating rate of SOFR + 3.00%. The lender is Aareal Capital Corporation. The new loan has a three-year initial term with two, one-year extension options, subject to the satisfaction of certain conditions. "We are pleased to announce the successful refinancing of our Four Seasons Scottsdale property," commented Richard Stockton, Braemar's president and chief executive officer. "This flexible financing significantly enhances our liquidity while also lowering our cost of debt at a higher loan to value." He continued, "This transaction is further evidence of the improving credit market for lodging assets." Braemar Hotels & Resorts Inc. is a real estate investment trust (REIT) focused on investing primarily 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

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