Braemar Hotels & Resorts reported a strong first quarter in 2022, achieving the highest quarterly comparable RevPAR in company history. Net income attributable to common stockholders was $11.4 million, and Adjusted EBITDAre was $49.2 million. The company also completed the acquisition of The Ritz-Carlton Reserve Dorado Beach and reinstated its quarterly common stock dividend.
Comparable RevPAR for all hotels increased 68% to $326.42, the highest in the Company’s history.
Net income attributable to common stockholders was $11.4 million or $0.15 per diluted share.
Adjusted funds from operations (AFFO) was $0.41 per diluted share, a 105% increase year-over-year.
The Company completed the acquisition of the 96-room Ritz-Carlton Reserve Dorado Beach for total consideration of $193 million.
Braemar Hotels & Resorts anticipates strong forward bookings and expects to materially exceed both 2019 RevPAR and 2019 Hotel EBITDA for calendar year 2022 on both a comparable and an actual basis.
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