Braemar Hotels & Resorts Inc. (NYSE: BHR) reported today that the Company expects to report occupancy of approximately 71% for the second quarter of 2022 with an average daily rate of approximately $442 resulting in RevPAR of approximately $315. This RevPAR reflects an approximate increase of 43% compared to the second quarter of 2021 and an approximate increase of 28% compared to the second quarter of 2019. The preliminary operating information discussed above assumes the 15 hotel properties owned and included in the Company's operations at June 30, 2022, were owned as of the beginning of 2019.
"We're extremely pleased with our strong second quarter and continue to see outperformance compared to 2019," commented Richard J. Stockton, Braemar's President and Chief Executive Officer. "These solid results are a testament to the ideal positioning and industry leading quality of our portfolio. Our luxury resorts continue to benefit from the recent surge in leisure demand and soaring average daily rates, which put average RevPARs up 78% compared to 2019. Additionally, our urban assets continue to see strong bookings, as corporate transient and corporate group demand rebounds. In fact, 13 of our 15 hotels delivered ADRs above the comparable period in 2019. We are very well-positioned and, looking ahead, remain excited about our opportunities to deliver continued growth."
Braemar Hotels & Resorts is a real estate investment trust (REIT) focused on investing in luxury hotels and resorts.