Braemar Hotels & Resorts Inc. announced on October 14, 2024, that it has successfully addressed all of its 2024 debt maturities. This was achieved through a combination of extensions, refinancings, and planned repayments, significantly strengthening the company's balance sheet.
The company anticipates more constructive debt capital markets for lodging in the future, including lower interest costs from reduced base rates and credit spreads. This proactive debt management positions Braemar favorably for upcoming financial periods.
Looking ahead, the company expects a positive industry outlook for 2024, with a forecast of 4% RevPAR growth across the industry and over 5% for the luxury segment. This projection suggests a robust environment for Braemar's high-RevPAR luxury hotel and resort portfolio.
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