Braemar Hotels & Resorts Inc. (NYSE: BHR-PD)

Braemar Hotels & Resorts Inc., with ticker symbol BHR, operates in the direct hotel investment segment of the hotel lodging industry. This Maryland corporation invests in high-revenue-per-available-room (RevPAR) luxury hotels and resorts across the United States.

The company's main business activities involve operating a portfolio of 16 hotel properties, located in seven states, the District of Columbia, Puerto Rico, and the U.S. Virgin Islands. These hotels offer a range of amenities and services to guests, including luxury accommodations, dining, meeting and event spaces, fitness centers, and recreational activities. The primary products and services offered by the company's hotels are designed to cater to both business and leisure travelers, as well as groups and events.

Braemar Hotels & Resorts generates revenue through its hotel properties. Its customer base includes business travelers, leisure travelers, and groups, with a focus on attracting high-end customers who are willing to pay a premium for luxury accommodations and services. The company's position within the industry is strong, thanks to its well-located and well-managed hotels that offer unique and luxurious experiences for guests. Its ability to attract high-end customers has driven its success, setting it apart from other hotel companies.

The company's hotels are operated under various brands, including Marriott International, Hilton Worldwide, Accor Management US Inc., Hyatt Corporation, and Four Seasons Hotels Limited. These brands are well-known and respected in the hotel industry, providing the company with access to a range of resources and expertise. For instance, The Ritz-Carlton Reserve Dorado Beach, located in Dorado, Puerto Rico, offers 96 guest rooms featuring modern decor, a large wardrobe, and marble floors. Some rooms have an en-suite plunge pool and spectacular ocean views, while the hotel offers amenities such as a private dining room, meeting spaces, and a spa.

The Four Seasons Resort Scottsdale, located in Scottsdale, Arizona, offers 210 guest rooms featuring luxurious and spacious accommodations with private patios or balconies overlooking the desert landscape. The hotel offers a range of amenities, including a spa, fitness center, and multiple dining options. These hotels are managed by brand management companies under hotel management agreements, providing benefits such as the use of the brand's reservation system and guest loyalty program.

Braemar Hotels & Resorts relies on Ashford LLC, a subsidiary of Ashford Inc., to provide asset management services for its hotel properties. Ashford LLC is responsible for implementing the company's investment strategies and decisions, as well as the management of its day-to-day operations. The company's asset management team monitors the performance of its hotel properties on a daily basis and holds frequent ownership meetings with personnel at the hotel properties and with key executives of the brands and management companies.

In terms of financing, Braemar Hotels & Resorts intends to finance its long-term growth and liquidity needs with operating cash flow, equity issuances of both common and preferred stock, joint ventures, a revolving line of credit, and secured and unsecured debt financings having staggered maturities. The company targets a leverage ratio of 35% net debt to gross assets.