Braemar Hotels & Resorts Announces Preliminary Revpar Results For Fourth Quarter 2022

January 6, 2023

Braemar Hotels & Resorts Inc. (NYSE: BHR) (“Braemar” or the “Company”) reported today that the Company expects to report occupancy of approximately 64% for the fourth quarter of 2022 with an average daily rate of approximately $469 resulting in RevPAR of approximately $301. This RevPAR reflects an approximate increase of 8% compared to the fourth quarter of 2021 and an approximate increase of 20% compared to the fourth quarter of 2019.

Additionally, for the month of December 2022, RevPAR increased approximately 26% versus December 2019. For the month of November 2022, RevPAR increased approximately 15% versus November 2019. For the month of October 2022, RevPAR increased approximately 14% versus October 2019. The preliminary operating information discussed above assumes the 16 hotel properties owned and included in the Company’s operations at December 31, 2022, were owned as of the beginning of 2019.