---
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"
generated_at: "2026-10-12T15:29:25.796732+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.87
calibrated_materiality_score: 0.87
confidence: "high"
source: SEC EDGAR
---

# Braemar to sell Four Seasons Scottsdale for $372M, become self-managed REIT, sets 2027 guidance

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: other_material
- sentiment: positive
- materiality_score: 0.87
- calibrated_materiality_score: 0.87
- confidence: high
- sec_items: 7.01, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001574085-26-000151
- JSON: https://secwatch.observer/filing/0001574085-26-000151.json
- Plain text: https://secwatch.observer/filing/0001574085-26-000151.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.