Braemar Hotels Q2 RevPAR rises 12.3% to higher rates
BHR•Outlook
- Company did not provide specific guidance for the current qtr or full yr
Result drivers
- Rate increases - Co said Q2 top-line growth was driven primarily by higher average daily rates, with occupancy nearly flat, reflecting pricing power in supply-constrained luxury markets
- Property performance - Cameo Beverly Hills and Ritz-Carlton Reserve Dorado Beach delivered strong RevPAR growth, helping drive portfolio results
- Margin expansion - Co reported 93 basis points of Hotel EBITDA margin expansion to 28.6%
Quarterly overview
- U.S. luxury hotel REIT's Q2 comparable RevPAR rose 12.3% yr/yr
- Comparable Hotel EBITDA grew 14.2% yr/yr; net loss was $0.7 mln for the quarter
- Company closed four property sales and agreed to sell Pier House Resort & Spa
Key details and analyst coverage
| Metric | Beat/Miss | Actual | Consensus Estimate |
|---|---|---|---|
| Q2 Net Loss | $700,000 | ||
| Q2 Adjusted Hotel EBITDA | $48.40 mln |
