Braemar Hotels & Resorts: Unprofitable but with a Track Record of Loss Reduction

Braemar Hotels & Resorts (BHR) has narrowed its losses by 7.3% per year over the past five years, but remains unprofitable. Revenue is forecast to grow at 0.9% per year, slower than the US market's 10.5% annual growth outlook. The share price is $2.58, compared to an estimated fair value of $1.24. Despite a low Price-to-Sales Ratio of 0.2x, investors must balance ongoing losses and dividend sustainability with the recent track record of narrowing losses.