{"schema_version":"secwatch.filing_event.v1","accession":"0001574085-26-000162","form_type":"8-K","ticker":"BHR","cik":"0001574085","company_name":"Braemar Hotels & Resorts Inc.","filed_at":"2026-11-03T21:04:58+00:00","discovered_at":"2026-11-03T21:06:01.400895+00:00","generated_at":"2026-11-03T21:06:26.601943+00:00","sec_items":["2.01","7.01","9.01"],"event_type":"m_and_a","sentiment":"positive","materiality_score":0.8,"calibrated_materiality_score":0.8,"confidence":"high","headline":"Braemar closes $372M sale of Four Seasons Scottsdale at 5.8% cap rate, 15.0x EBITDA","bullets":["Sold 210-room Four Seasons Resort Scottsdale to Evergreen Acquisitions for $372.0M cash ($1.8M/key); 5.8% cap rate and 15.0x trailing-12M Hotel EBITDA after $23M anticipated capex.","Received ~$370.1M net of selling expenses and repaid ~$180.0M on the hotel mortgage; proceeds plus cash on hand to fund remaining external-advisor separation fees.","CEO Richard J. Stockton said the 2022 acquisition generated an ~15% unlevered return, above the 10% minimum target; self-managed REIT transition on track for mid-November 2026.","Pro forma FY2025 gain on disposition of $126.0M; net income attributable to common stockholders $39.5M ($0.59 basic EPS) vs historical $(72.7)M loss ($(1.07)).","Pro forma removes $79.3M FY2025 and $46.3M H1 2026 hotel revenue; H1 2026 pro forma net income attributable to common stockholders falls to $0.1M from $4.2M."],"urls":{"canonical":"https://secwatch.observer/filing/0001574085-26-000162","json":"https://secwatch.observer/filing/0001574085-26-000162.json","markdown":"https://secwatch.observer/filing/0001574085-26-000162.md","text":"https://secwatch.observer/filing/0001574085-26-000162.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1574085/000157408526000162/0001574085-26-000162-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1574085/000157408526000162/bhr-20261028.htm"},"model":{"generated_by":"deepseek-v4.1-flash:cloud@v2","generated_at":"2026-11-03T21:06:26.601943+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"}