{"id":86448,"date":"2024-10-29T21:42:19","date_gmt":"2024-10-29T21:42:19","guid":{"rendered":"https:\/\/pakistaninewspaperlist.com\/news\/blackwells-capital-calls-on-brancous-to-end-its-alarmist-attacks-on-braemar\/"},"modified":"2024-10-29T21:42:19","modified_gmt":"2024-10-29T21:42:19","slug":"blackwells-capital-calls-on-brancous-to-end-its-alarmist-attacks-on-braemar","status":"publish","type":"post","link":"https:\/\/pakistaninewspaperlist.com\/news\/blackwells-capital-calls-on-brancous-to-end-its-alarmist-attacks-on-braemar\/","title":{"rendered":"Blackwells Capital Calls on Brancous to End its Alarmist Attacks on Braemar"},"content":{"rendered":"
\n

Brancous\u2019 misleading accusations are not constructive and could negatively impact the Company\u2019s business<\/em><\/p>\n

Blackwells encourages all Braemar shareholders to support the enhanced Board and management team<\/em><\/p>\n

NEW YORK, Oct. 29, 2024 (GLOBE NEWSWIRE) — Blackwells Capital LLC (\u201cBlackwells\u201d), a shareholder of Braemar Hotels & Resorts Inc. (\u201cBraemar\u201d or the \u201cCompany\u201d) (NYSE: BHR), today released a letter to its fellow Braemar shareholders:<\/p>\n

The full text of the letter follows:<\/u><\/p>\n

Dear Fellow Braemar Shareholders,<\/p>\n

Over the past months, Blackwells Capital, in its capacity as an engaged shareholder of Braemar Hotels & Resorts (\u201cBraemar\u201d or the \u201cCompany\u201d), exchanged views with the board of directors (the \u201cBoard\u201d) and management of Braemar. Blackwells\u2019 concerns were heard by Braemar, and Blackwells was pleased to enter into a constructive agreement with the Company, reflective of its confidence in the Board and management team to drive value for all shareholders.<\/p>\n

Recently, another shareholder, Brancous LP1 (\u201cBrancous\u201d) has issued several public letters to Braemar. While Brancous is free to have its say as a shareholder of the Company, we believe its accusations and inferences are increasingly alarmist in nature, and without merit. Left uncorrected, Blackwells is concerned these accusations could have a negative impact on Braemar\u2019s business.<\/p>\n

Brancous\u2019 latest letter dated October 22, 2024 appears to be a regurgitation of false claims made by a disgruntled hotel union. We believe it is irresponsible to peddle such misinformation, and, in particular, highlight the recklessness of stating that a lawsuit was filed against Braemar when no such thing happened.<\/p>\n

Contrary to Brancous\u2019 misstatements, Ashford Inc has stated publicly that Braemar has received an official private letter ruling from the Internal Revenue Service regarding its structure and operating relationship with Remington Hospitality, providing assurance of its proper REIT compliance. We question Brancous\u2019 claim that \u201cNo other REIT operates in this manner<\/em>,\u201d and believe that it demonstrates a lack of knowledge of the REIT space.<\/p>\n

Further, Brancous\u2019 missives about the Braemar Board ignore the recent appointment of Jay Shah. Mr. Shah is a seasoned hospitality and real estate executive and joined the Board as an independent director. Blackwells believes that Mr. Shah brings an infusion of skills, experience and fresh expertise to Braemar. Blackwells strenuously objects to Brancous\u2019 attacks which oddly single out Braemar independent director, Stefani Carter. Blackwells has had the opportunity to meet with Ms. Carter and believes she is an effective and independent fiduciary for shareholders, with an esteemed professional background.\u00a0\u00a0<\/p>\n

Brancous closes its October 22, 2024 letter noting that \u201cBHR has incredible potential…<\/em>\u201d Blackwells agrees with that assessment wholeheartedly. Brancous\u2019 hyperbolic attacks, however, are not constructive, and could unjustly hurt the Company and its prospects.<\/p>\n

Blackwells calls on Brancous and all shareholders to join us in voting in favor of the enhanced Board and management team as they unlock value for all shareholders.<\/p>\n

Sincerely,<\/p>\n

Jason Aintabi
Chief Investment Officer
Blackwells Capital<\/p>\n

About Blackwells Capital<\/strong><\/p>\n

Blackwells is a multi-strategy alternative asset management firm that invests in public and private markets globally. Our public markets portfolio focuses on currencies, equities, credit and commodities. When necessary, we engage with public company boards to drive value for all stakeholders. Our private markets portfolio includes investments in space, clean energy, infrastructure, real estate and technology. Further information is available at\u00a0www.blackwellscap.com<\/a>.<\/p>\n

Media<\/strong>
Gagnier Communications
Dan Gagnier & Riyaz Lalani
646-569-5897
blackwells@gagnierfc.com<\/u><\/a><\/p>\n

\n <\/div>\n","protected":false},"excerpt":{"rendered":"

Brancous\u2019 misleading accusations are not constructive and could negatively impact the Company\u2019s business Blackwells encourages all Braemar shareholders to support the enhanced Board and management team NEW YORK, Oct. 29, 2024 (GLOBE NEWSWIRE) — Blackwells Capital LLC (\u201cBlackwells\u201d), a shareholder of Braemar Hotels & Resorts Inc. (\u201cBraemar\u201d or the \u201cCompany\u201d) (NYSE: BHR), today released a […]<\/p>\n","protected":false},"author":2,"featured_media":86449,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"fifu_image_url":"https:\/\/ml.globenewswire.com\/Resource\/Download\/a02be145-7664-4610-ab96-b6f6e680e8f2","fifu_image_alt":"","footnotes":""},"categories":[208],"tags":[],"class_list":["post-86448","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-globenewswire"],"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/posts\/86448","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/comments?post=86448"}],"version-history":[{"count":0,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/posts\/86448\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/media\/86449"}],"wp:attachment":[{"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/media?parent=86448"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/categories?post=86448"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/tags?post=86448"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}