Braemar Hotels & Resorts Announces Maturity Extensions for Its Napa Valley Hotels Mortgages
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DALLAS, September 27, 2021 / PRNewswire / – Braemar Hotels & Resorts Inc. (NYSE: BHR) (âBraemarâ or the âCompanyâ) today announced that it has completed an extension of its mortgages for Bardessono Resort & Spa with a final maturity in August 2022, and the Yountville Hotel with a final deadline in May 2022. The two hotels are located at Yountville, California. Each of the loans is extended for one year beyond their initial maturity on the same terms as the initial loan.
“We are very happy to be able to extend these loans for an additional year,” said Richard J. Stockton, President and CEO of Braemar. âIn doing so, we only have one loan maturing in 2022 with a balance of $ 67.5 million and have no debt due for the remainder of this year. “
Braemar Hotels & Resorts is a real estate investment trust (REIT) focused on investing in luxury hotels and resorts.
Certain statements and assumptions contained in this press release contain or are based on “forward-looking” information and are made in accordance with the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The forward-looking statements contained in this press release include , among others, statements on the strategy and future plans of the Company. These forward-looking statements are subject to risks and uncertainties. When we use the words “will probably result”, “may”, “anticipate”, “estimate”, “should”, “expect”, “believe”, “intend” or similar expressions, we have intend to identify statements. Such statements are subject to many assumptions and uncertainties, many of which are beyond Braemar’s control.
These forward-looking statements are subject to known and unknown risks and uncertainties, which could cause actual results to differ materially from those anticipated, including, without limitation: the impact of COVID-19, and the rate of adoption and effectiveness of vaccines to prevent COVID-19, on our business and investment strategy; the timing and outcome of the Securities and Exchange Commission investigation; our ability to repay, refinance or restructure our indebtedness and the indebtedness of some of our subsidiaries; anticipated or expected asset purchases or sales; our projected operating results; the completion of all pending transactions; our understanding of our competitors; market trends; projected capital expenditures; the impact of technology on our operations and activities; general volatility in capital markets and the market price of our common and preferred shares; availability, conditions and deployment of capital; availability of qualified personnel; changes in our industry and the markets in which we operate, interest rates or the economy in general; and the degree and nature of our competition. These and other risk factors are discussed in more detail in documents filed by Braemar with the Securities and Exchange Commission.
The forward-looking statements included in this press release are made only as of the date of this press release. These forward-looking statements are based on our beliefs, assumptions and expectations regarding our future performance, taking into account all the information currently available to us. These beliefs, assumptions and expectations can change due to many events or potential factors, not all of which we are aware of. If any change occurs, our business, financial condition, liquidity, results of operations, plans and other objectives may differ materially from those expressed in our forward-looking statements. You should carefully consider this risk when making an investment decision regarding our securities. Investors should not place undue reliance on these forward-looking statements. The Company cannot guarantee that these forward-looking statements will be achieved or that no deviations will occur. We are under no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or circumstances, changes in expectations or otherwise, except to the extent required by law. law.
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SOURCE Braemar Hotels & Resorts Inc.
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