BRAEMAR HOTELS & RESORTS ANNOUNCES $358 MILLION REFINANCING OF FOUR HOTELS

DALLAS, Nov. 10, 2026 /PRNewswire/ -- Braemar Hotels & Resorts Inc. (NYSE: BHR) ("Braemar" or the "Company") announced today that it has successfully closed a new $358.0 million CMBS loan secured by The Ritz-Carlton St. Thomas, The Ritz-Carlton Reserve Dorado Beach, The Notary Hotel and Sofitel Chicago Magnificent Mile. The loan is interest-only, has a two-year initial term with three one-year extension options, subject to certain conditions, taking the final maturity to November 2031 and provides for a floating interest rate of SOFR + 2.37%.

The new loan replaces two existing CMBS loans with combined outstanding balances of approximately $290.4 million as of September 30, 2026. The loan secured by The Ritz-Carlton St. Thomas, with a balance of approximately $80.5 million, carried a spread of SOFR + 4.91% and had a final maturity of August 2029. The loan secured by The Ritz-Carlton Reserve Dorado Beach, The Notary Hotel and Sofitel Chicago Magnificent Mile, with a balance of approximately $209.9 million, carried a spread of SOFR + 2.83% and had a final maturity of March 2030. Together, the refinancing reduces the weighted-average spread on the loans for these four hotels by approximately 104 basis points, from approximately 3.41% to approximately 2.37%, while also extending the final maturities.

The $358.0 million loan balance is $42.0 million lower than the $400.0 million estimated in the Company's October 2026 investor presentation.

"This refinancing meaningfully lowers our interest rate spread and extends maturities on the loans for four of our seven hotels. The final loan balance also came in well below our October investor presentation estimate, reflecting our management team's disciplined approach to capital allocation and commitment to creating long-term value for shareholders," said Richard J. Stockton, President and Chief Executive Officer.

About Braemar Hotels & Resorts

Braemar Hotels & Resorts Inc. (NYSE: BHR) is a real estate investment trust (REIT) focused on the high-growth luxury hotel and resort sector. Its industry-leading portfolio features luxury properties across the United States and the U.S. territories in the Caribbean.

Forward-Looking Statements

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