Braemar Hotels & Resorts and Ghassemieh Group Forge Strategic Partnership

Braemar Hotels & Resorts, a real estate investment trust focused on luxury hotels and resorts, has entered into a cooperation agreement with Ghassemieh Group. The agreement aims to generate attractive returns on invested capital and long-term growth in cash flow to maximize total returns to stockholders. Braemar operates in the direct hotel investment segment of the hotel lodging industry and owns interests in 16 hotel properties with 4,192 total rooms. The company's hotel properties are predominantly located in the US urban and resort locations and are asset-managed by Ashford LLC.

Braemar Hotels & Resorts Inc. (NYSE: BHR), a real estate investment trust (REIT) specializing in luxury hotels and resorts, has expanded its board of directors by appointing Bob Ghassemieh as a new member. This move is part of a cooperation agreement between Braemar and the Ghassemieh Group, which collectively owns approximately 7.3% of the company's outstanding common stock [1].

The agreement aims to generate attractive returns on invested capital and long-term growth in cash flow to maximize total returns to stockholders. Braemar operates in the direct hotel investment segment of the hotel lodging industry and owns interests in 16 hotel properties with 4,192 total rooms. The company's hotel properties are predominantly located in the US urban and resort locations and are asset-managed by Ashford LLC [2].

The Ghassemieh Group has agreed to certain standstill, voting, and other provisions as part of the cooperation agreement. Additional information will be filed in a Form 8-K with the Securities and Exchange Commission. White & Case LLP is serving as legal counsel to Braemar, while Olshan Frome Wolosky LLP is serving as legal counsel to the Ghassemieh Group [1].

Monty Bennett, Chairman of Braemar, stated, "We're pleased to have come to a productive agreement with the Ghassemieh Group and look forward to our continued collaboration. We believe this outcome supports the best interests of Braemar and all our stakeholders" [1].

This development underscores Braemar's commitment to strategic partnerships and long-term growth, positioning the company to capitalize on opportunities in the luxury hotel and resort sector.

References:
[1] https://www.prnewswire.com/news-releases/braemar-to-expand-board-of-directors-302538867.html
[2] https://www.marketscreener.com/news/braemar-hotels-resorts-and-ghassemieh-group-enter-into-cooperation-agreement-ce7c50d9db88ff21