Braemar Hotels & Resorts Inc. (NYSE:BHR) ("Braemar" or the "Company") today announced that it has entered into a definitive agreement to sell the 193-room Park Hyatt Beaver Creek Resort & Spa for $176 million ($912,000 per key) and has received a $6.5 million non-refundable earnest money deposit. The sale price represents a 5.1% capitalization rate on net operating income for the trailing 12 months ended December 2025.

"The sale of this asset at a premium valuation is a significant milestone in our ongoing strategic review and sales process, underscoring the high quality of our portfolio," said Richard Stockton, Braemar's President and Chief Executive Officer. "Braemar intends to use the net proceeds to redeem its outstanding convertible notes in June."