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Stock impact report

BRAEMAR HOTELS & RESORTS ENTERS INTO FRANCHISE AGREEMENT FOR THE SOFITEL CHICAGO MAGNIFICENT MILE

Braemar Hotels & Resorts Inc. (BHR) 
Last braemar hotels & resorts inc. earnings: 2/26 05:10 pm Check Earnings Report
Company Research Source: PR Newswire
DALLAS, April 3, 2025 /PRNewswire/ -- Braemar Hotels & Resorts Inc. (NYSE: BHR) ("Braemar" or the "Company") today announced its plans to transition the 415-room Sofitel Chicago Magnificent Mile to a franchise structure. Under the franchise structure, the hotel will continue to be the Sofitel Chicago Magnificent Mile, but will be managed by Remington Hospitality under the existing terms of its Master Hotel Management Agreement with Braemar. In connection with the conversion, which is expected to be effective in May 2025, Remington Hospitality will give offers for all employees employed on the conversion date to remain in their current positions as employees of a subsidiary of Remington Hospitality. There is no required property improvement plan associated with the conversion, but the Company does plan to renovate the lobby, restaurant, and meeting space over the next two years."We are pleased to announce the conversion of the Sofitel Chicago Magnificent Mile from being brand-managed t Show less Read more
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