𝛼SK or Searchbullish
Getting Paid 10% for a Ringside Seat at the Braemar Circus with a potential 2x payout
SUMMARY
- TLDR: Braemar Hotels & Resorts 5.50% Series B Cumulative Convertible Preferred (BHR-PB) trades around $13 against a $25.00 liquidation preference with an effective yield of 10%.
- The company is selling trophy hotels, litigating with its largest shareholder, and paying its chairman’s management company $480 million to go away.
- Braemar was spun out of Ashford Hospitality Trust (AHT) in 2013 by Monty Bennett to hold the crown jewels of hotels with the highest-RevPAR luxury portfolio of any lodging REIT.
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- Getting Paid 10% for a Ringside Seat at the Braemar Circus with a potential 2x payout20 Jul 2026
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