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Braemar Hotels & Resorts (BHR) Stock Moves in a Tight Range: What Next?

Madison Hall , , , ,

Braemar Hotels & Resorts (NYSE:BHR) is moving in range after the company announced a preliminary RevPAR of around $211.43 for June, which is around 366% growth YoY. In May, the company had a RevPAR of around $172.03. In the second quarter, the company expects a RevPAR increase of 871% YoY for its entire hotel portfolio.

Braemar CEO Richard J. Stockton said they are pleased with the recovery trends they are witnessing, driven by rebuts leisure demand at Braemar hotels. He said that comparable RevPAR for Braemar Hotels was up $186.72 based on 49% occupancy and $379.73 ADR during the quarter.

Stockton added that new bookings are strong from now on, and they are optimistic they are better positioned to execute their growth strategy. In addition, the company has announced that its executives will present at the virtual Nareit’sREITweek 2021 investor conferences scheduled on June 10, 2021. So in the coming days, BAHR is a stock to keep an eye on.

Market Reaction:

On Tuesday, BHR stock fell 1% at $6.05 with more than 3.01 million shares, compared to its average volume of 1.26 million shares. The stock had moved within a range of $5.89 – 6.30 after opening the trade at $6.17. Over the past 52-week, the stock has been trading within a range of $2.17 – 7.45.

Madison Hall

After graduating from the University of Buffalo, Madison gained a real interest in the markets. She tends to be a swing trader and enjoys Pilates and yoga in her downtime.