{"schema_version":"secwatch.filing_event.v1","accession":"0001574085-26-000151","form_type":"8-K","ticker":"BHR","cik":"0001574085","company_name":"Braemar Hotels & Resorts Inc.","filed_at":"2026-10-08T20:08:32+00:00","discovered_at":"2026-10-08T20:09:00.410271+00:00","generated_at":"2026-10-12T15:29:25.796732+00:00","sec_items":["7.01","9.01"],"event_type":"other_material","sentiment":"positive","materiality_score":0.87,"calibrated_materiality_score":0.87,"confidence":"high","headline":"Braemar to sell Four Seasons Scottsdale for $372M, become self-managed REIT, sets 2027 guidance","bullets":["Braemar agreed to sell Four Seasons Resort Scottsdale for $372M ($1.8M/key); $10M non-refundable deposit; expected close Oct 22, 2026, 6.2% cap rate on TTM Aug 2026 NOI.","Company expects to complete separation from Ashford and become self-managed by mid-November; annual corporate G&A expected to fall from ~$42M to ~$15M, over $25M savings.","2027 guidance: RevPAR growth +4.5% to +6.5%; comparable hotel EBITDA margin 24.5%-25.4%; Adjusted EBITDAre $85M-$90M; Adjusted FFO per diluted share $0.25-$0.31.","Next-twelve-months revenue pace as of Sept 2026 up ~25% YoY, led by ~27% ADR increase; pro forma Sept 2026 net debt/gross assets expected to fall from ~50% to ~36%.","Cooperation agreement with largest shareholder Al Shams withdraws director nominations and settles all outstanding legal disputes; 2026 Annual Meeting set for Dec 21, 2026."],"urls":{"canonical":"https://secwatch.observer/filing/0001574085-26-000151","json":"https://secwatch.observer/filing/0001574085-26-000151.json","markdown":"https://secwatch.observer/filing/0001574085-26-000151.md","text":"https://secwatch.observer/filing/0001574085-26-000151.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1574085/000157408526000151/0001574085-26-000151-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1574085/000157408526000151/bhr-20261008.htm"},"model":{"generated_by":"deepseek-v4.1-flash:cloud@v2","generated_at":"2026-10-12T15:29:25.796732+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}