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Braemar Hotels and Resorts to Acquire Dorado Beach Resort in Puerto Rico.

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Vincent

MANews-(C)2009-2021

US-based real estate investment trust Braemar Hotels and Resorts Inc. (NYSE: BHR) has entered into a definitive agreement to acquire the 96-room Dorado Beach, a Ritz-Carlton Reserve in Dorado, Puerto Rico, the company said.

In addition, the company is also acquiring the income stream attributable to fourteen luxury residential units adjacent to the property that participate in a rental management program.

The acquisition is expected to close on or prior to February 1, 2022, subject to certain customary closing conditions.

Because the acquisition is subject to certain customary closing conditions, the company can give no assurance that the transaction will be consummated by such date or at all.

With its premier beachfront location on the North coast of Puerto Rico, the Property is situated within Dorado Beach Resort, a 1,900-acre master planned community in one of the most sought after residential real estate markets in both Puerto Rico as well as the United States.

In addition to the amenities of the self-contained Dorado Beach community, the resort also benefits from its location within the town of Dorado.

Dorado is an upscale suburb of San Juan featuring many restaurants, retail outlets, and other amenities and leisure activities in the surrounding area.

Additionally, the town is 20 miles from Old San Juan and 22 miles from Luis Muñoz Marin International Airport, making it very accessible from the capital city.

Dorado Beach, a Ritz-Carlton Reserve was opened in 2012 and underwent an extensive USD 78m renovation in 2018.

It has 96 luxurious and spacious rooms, including 12 suites, that average 1,288 sq. ft. in size.

The hotel offers a range of amenities, including the full-service, five-acre Spa Botanico, and three food and beverage outlets (in addition to in-room dining).

The property also boasts the acclaimed COA Restaurant, over 4,800 sq. ft. of meeting space, and an infinity pool with direct access to the beach.

While not included in the...

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