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An announcement from Braemar Hotels & Resorts (BHR) is now available.
Braemar Hotels & Resorts Inc. has successfully refinanced a portfolio of five hotels with a new $407 million loan, featuring a two-year term and potential extensions up to 2029. This strategic financial move, which includes a floating interest rate of SOFR + 3.24%, replaces higher-interest loans and reduces the net interest spread for the company. The refinancing not only boosts the company’s financial flexibility but also secures its investments in high-end properties including The Ritz-Carlton Sarasota and St. Thomas, as well as other luxury spas and resorts.
For an in-depth examination of BHR stock, go to TipRanks’ Stock Analysis page.
