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Dec 31, 2020
Braemar Q4 2020 Earnings Report
Reported financial results and performance measures.
Key Takeaways
Braemar Hotels & Resorts reported a net loss attributable to common stockholders of $28.3 million, or $0.77 per diluted share, for the fourth quarter ended December 31, 2020. Comparable RevPAR for all hotels decreased 59.8% to $89.83 during the quarter on a 10.8% increase in ADR and a 63.8% decrease in occupancy. Comparable Hotel EBITDA was $1.6 million for the quarter.
Net loss attributable to common stockholders for the quarter was $28.3 million or $0.77 per diluted share.
Comparable RevPAR for all hotels decreased 59.8% to $89.83 during the quarter on a 10.8% increase in ADR and a 63.8% decrease in occupancy.
Adjusted funds from operations (AFFO) was $(0.17) per diluted share for the quarter.
Comparable Hotel EBITDA was $1.6 million for the quarter.
Forward Guidance
The Company announced that it has amended its term loan to extend the previous covenant waiver through the fourth quarter of 2021. In light of the economic uncertainty arising from the COVID-19 pandemic and to protect liquidity, the Company and its Board of Directors announced a suspension of its previously announced 2020 common stock dividend policy. Accordingly, the Company did not pay a dividend on its common stock or common units for the fourth quarter ended December 31, 2020. The Board of Directors also announced that it plans to continue its suspension of the common stock dividend into 2021 to protect liquidity and will evaluate future dividend declarations on a quarterly basis going forward.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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