Overview

Strategy

Our strategy is to invest primarily in full-service luxury hotels and resorts which are anticipated to generate RevPAR of at least twice the current U.S. average RevPAR for all hotels as determined by Smith Travel Research. We will seek to acquire both premium branded and independent hotels. We are listed on the New York Stock Exchange under the symbol BHR and are externally-advised by Ashford.

Guiding Principles

Braemar Hotels & Resorts embraces five guiding principles which we believe best describe what our company stands for: ethical, innovative, profitable, engaging and tenacious. Our guiding principles are more than just a catchy phrase or slogan, they are a way of doing business. Our adherence to these standards is a key component in building a reputation of excellence and integrity.

Philanthropic Spirit

One of our Five Guiding Principles is to be Engaging. The focus of this principle is for Braemar Hotels & Resorts to be an active partner and contributor to our surrounding community and to positively support organizations that assist those less fortunate. Our major company-wide philanthropic events are our Community Service Day (Spring) and Holiday Events Participation (Winter). In addition, throughout the year, we encourage associates to be mindful of community contributions and we financially support many charitable causes in our markets.

Community Service Projects

Below are just a few organizations we support:

• Habitat For Humanity
• ManeGait
• S.M. Wright Foundation
• Ashford RISE School
• Shatterproof
• Metroplex Civic Association (MCA)