Braemar Hotels & Resorts, Inc. (NYSE:BHR) Q2 2020 Earnings Conference Call - Final Transcript

Jul 31, 2020 • 11:00 am ET


Braemar Hotels & Resorts, Inc. (NYSE:BHR) Q2 2020 Earnings Conference Call - Final Transcript


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Hello and welcome to the Braemar Hotels & Resorts Second Quarter 2020 Results Conference Call. [Operator Instructions]

It is now my pleasure to turn the call over to Jordan Jennings, Investor Relations for Braemar Hotels & Resorts. Please go ahead.

Jordan Jennings

Good morning and welcome to today's call to review results for Braemar Hotels & Resorts for the second quarter of 2020 and to update you on recent developments.

On the call today will be Richard Stockton, President and Chief Executive Officer; Deric Eubanks, Chief Financial Officer; and Jeremy Welter, Chief Operating Officer. The results as well as notice of the accessibility of this conference call on a listen-only basis over the Internet were distributed yesterday in a press release.

At this time, let me remind you that certain statements and assumptions in this conference call contain or are based upon forward-looking information and are being made pursuant to the Safe Harbor provisions of the federal securities regulations. Such forward-looking statements are subject to numerous assumptions, uncertainties and known or unknown risks, which could cause actual results to differ materially from those anticipated. These factors are more fully discussed in the Company's filings with the Securities and Exchange Commission. The forward-looking statements included in this conference call are only made as of the date of this call and the Company is not obligated to publicly update or revise them. Statements made during this call do not constitute an offer to sell or a solicitation of an offer to buy any securities. Securities will be offered only by means of a registration statement and prospectus, which can be found at

In addition, certain terms used in this call are non-GAAP financial measures, reconciliations of which are provided in the Company's earnings release and accompanying tables or schedules, which have been filed on Form 8-K with the SEC on July 30, 2020 and may also be accessed through the Company's website at Each listener is encouraged to review those reconciliations provided in the earnings release together with all other information provided in the release.

I will now turn the call over to Richard Stockton. Please go ahead, Richard.

Richard J. Stockton

Good morning. Welcome to our second quarter 2020 earnings conference call.

I will begin by providing an overview of our business and an update on our portfolio, including the reopening of almost all of our hotels. After that, Deric will provide a review of our financial results and then Jeremy will provide an update on our asset management activity. Afterward, we will open the call for Q&A.

The COVID-19 global pandemic has created both social and economic disruption on an unprecedented level and has created a volatile landscape throughout the hospitality industry. As I have said previously, this has been an extraordinary period for all of us and our entire leadership team has been steadfast in our commitment to protect all of our stakeholders during this unprecedented time. A few objectives have continued to guide us: the health and well-being of the employees at