Braemar Hotels & Resorts Inc. entered into a definitive agreement on April 27, 2026 to sell its 193‑room Park Hyatt Beaver Creek Resort & Spa to Apres Owner, LLC for $176 million. The transaction includes a $6.5 million non‑refundable earnest money deposit and is expected to close in May 2026.
The sale price translates to $912,000 per key and reflects a 5.1% capitalization rate based on the resort’s trailing 12‑month net operating income of $9.0 million for the period ending December 31, 2025. The $176 million price represents a premium over the $145.5 million purchase price paid by Ashford Hospitality Prime in March 2017, underscoring the asset’s continued value.
Braemar intends to use the net proceeds to redeem its outstanding 4.50% convertible senior notes due in June 2026, a move that will reduce debt and improve liquidity. The company’s current ratio of 0.87 and short‑term obligations that exceed liquid assets highlight the urgency of strengthening the balance sheet through this sale.
The transaction is part of a broader portfolio refinement strategy that began in August 2025, which also included the sale of The Clancy in San Francisco for $115 million. In Q4 2025, Braemar reported a net loss of $46 million ($0.67 per diluted share) on revenue of $165.6 million, a loss that exceeded expectations and underscored the need for capital discipline.
Richard Stockton, Braemar’s President and CEO, said, “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.” He added, “Braemar intends to use the net proceeds to redeem its outstanding convertible notes in June.”
The content on EveryTicker is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.