BRAEMAR HOTELS & RESORTS ADDRESSES FINAL 2025 DEBT MATURITY WITH REFINANCING OF FIVE HOTELS AND REDUCES INTEREST COSTS (Form 8-K)

BRAEMAR HOTELS & RESORTS ADDRESSES FINAL 2025 DEBT MATURITY WITH REFINANCING OF FIVE HOTELS AND REDUCES INTEREST COSTS

DALLAS, March 10, 2025 - Braemar Hotels & Resorts Inc. (NYSE: BHR) ("Braemar" or the "Company") today announced that it has closed on a refinancing involving five hotels. The new loan totals $363 million and has a two-year initial term with three one-year extension options, subject to the satisfaction of certain conditions, taking the final maturity to 2030. The loan is interest only and provides for a floating interest rate of SOFR + 2.52%. The loan is secured by five hotels: The Clancy, The Notary Hotel, Marriott Seattle Waterfront, Sofitel Chicago Magnificent Mile, and The Ritz-Carlton Reserve Dorado Beach. The $363 million loan amount represents a 48.9% loan-to-value based on third-party appraisals completed by the lender. The appraisals valued the hotels at $742.2 million based on the sum of their "as-is" values. The new loan refinanced the $293.2 million loan secured by The Clancy, The Notary Hotel, Marriott Seattle Waterfront, and Sofitel Chicago Magnificent Mile which had an interest rate of SOFR + 2.66% and had a final maturity date in June of 2025 and the $62 million loan secured by The Ritz-Carlton Reserve Dorado Beach which had an interest rate of SOFR + 4.75% and had a final maturity date in March of 2026.

"We are pleased to announce the closing of this financing at a very attractive spread," said Richard J. Stockton, Braemar's President and Chief Executive Officer. "This financing addresses our only remaining final debt maturity for 2025 and not only results in a lower cost of capital for

the debt on these assets, but also improves our maturity schedule and extends our weighted average maturity."

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Braemar Hotels & Resorts is a real estate investment trust (REIT) focused on investing in luxury hotels and resorts.