Braemar Hotels & Resorts Inc. (BHR) Form 8-K — Nov 3, 2026
Braemar Hotels & Resorts completed the sale of the 210-room Four Seasons Resort Scottsdale to Evergreen Acquisitions, LLC for $372 million in cash ($1.8 million per key) on October 28, 2026. Including $23 million of anticipated capital expenditures, the price represents a 5.8% cap rate and 15.0x trailing Hotel EBITDA, with an unlevered return of roughly 15% versus the company's 10% minimum target. The company received approximately $370.1 million net of selling expenses and repaid roughly $180 million on the hotel's mortgage, reducing consolidated indebtedness from $745.9 million to a pro forma $567.5 million.
Key figures
- Sale Price
- 372000000
- Price Per Key
- $1.8 million per key (210 rooms)
- Ebitda Multiple
- 15.0x TTM Hotel EBITDA
- Mortgage Repaid
- 180000000
- Net Cash Received
- 370100000
- Unlevered Return
- approximately 15% vs. 10% minimum target
- Anticipated Cap Ex
- 23000000
- Capitalization Rate
- 5.8%
AI analysis
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