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Mar 31, 2024
Braemar Q1 2024 Earnings Report
Braemar reported a net income of $3.5 million, with a comparable RevPAR decrease of 0.2% and the company ended the quarter with $137.1 million in cash and cash equivalents.
Key Takeaways
Braemar Hotels & Resorts reported first quarter 2024 financial results, featuring a net income attributable to common stockholders of $3.5 million, or $0.05 per diluted share. The company's comparable RevPAR decreased slightly by 0.2% to $368, while ending the quarter with a solid cash position of $137.1 million.
Comparable RevPAR decreased 0.2% to $368, with ADR decreasing 1.0% to $563 and Occupancy increasing 0.8% to 65.4%.
Net income attributable to common stockholders was $3.5 million, or $0.05 per diluted share.
Adjusted EBITDAre was $66.2 million.
The Company ended the quarter with cash and cash equivalents of $137.1 million.
Revenue by Geographic Location
Forward Guidance
Braemar is evaluating the sale of two more hotels, subject to market conditions, to be completed in 2024 and 2025, respectively, a $50 million preferred share redemption program, and a $50 million share buyback authorization.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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