Braemar Hotels & Resorts Inc. · NYSE:BHR
Braemar Hotels & Resorts — Ashford Hospitality Prime — Non-Deal Roadshow (May 2015)
13 slides from Braemar Hotels & Resorts's roadshow presentation, May 28, 2015
Slide 1: Chicago Investor Tour - May 2015
1 Chicago Investor Tour - May 2015
Slide 2: Ashford Prime
2 Ashford Prime Invest in high quality, high RevPAR hotels (RevPAR > 2x the national average) located in gateway & resort markets Conservative leverage with target (Net Debt + Preferred Equity) / EBITDA of 5.0x or less
Slide 3: Compelling Opportunity
3 Compelling Opportunity High quality portfolio predominantly located in gateway & resort markets Low leverage strategy in line with peers Highly-aligned management team Portfolio is in great physical condition after recent renovations Recently announced 100% increase in common dividend
Slide 4: Demonstrated Long-Term Track Record
Demonstrated Long-Term Track Record 4 • Disciplined growth, operational expertise, and capital allocation to maximize shareholder returns • Prime expects to benefit from strong AINC management team capabilities Peer average includes: BEE, CHSP, CLDT, DRH, FCH, HST, HT, INN, LHO, PEB, RLJ, SHO Traili
Slide 5: Highly-Aligned Management
Highly-Aligned Management 5 • With insider ownership* of approximately 14% for AHP, management is highly-aligned with shareholder interests Publicly-Traded Hotel REIT Insider Ownership Public Lodging REITs include: BEE, CHSP, CLDT, DRH, FCH, HST, HT, INN, LHO, PEB, RLJ, SHO Source: Company filings.
Slide 6: Sofitel Chicago Water Tower
Sofitel Chicago Water Tower 6 Sofitel Chicago Water Tower: 415 Rooms; 10,000 sf
Slide 7: Property Overview
Property Overview 7 Sofitel Chicago Water Tower: 415 Rooms; 10,000 sf Property Information: • Location: Downtown Chicago (Gold Coast submarket) • Rooms: 415 (including 32 suites) • Year Built: 2002 • 10,000 sf of meeting space • Fee simple; 32 story tower • Segmentation: 70% transient; 30% group Acq
Slide 8: Competitive Set - Primary
Competitive Set - Primary 8 Sofitel Chicago Water Tower: 415 Rooms; 10,000 sf
Slide 9: New Supply - Tract
New Supply - Tract 9 Sofitel Chicago Water Tower: 415 Rooms; 10,000 sf
Slide 10: Capital Summary
Capital Summary 10 Sofitel Chicago Water Tower: 415 Rooms; 10,000 sf Year $ Spend 2010 N/A 2011 N/A 2012 N/A 2013 N/A 2014 $352,161 Total $352,161 Historical Capital Spend Projected Capital Spend Year $ Spend 2015 $860,800 2016 $912,653 2017 $3,028,750 2018 $2,608,750 2019 $701,250 Total $8,112,203
Slide 11: Case Study – Deep Dive
Case Study – Deep Dive 11 Sofitel Chicago Water Tower: 415 Rooms; 10,000 sf • Property was previously owned by Blackstone’s Real Estate Division, noted for stringent cost controls on portfolio hotels • Ashford worked alongside existing property management to accomplish goals • Ashford has no previou
Slide 12: Property Pictures
Property Pictures 12 Sofitel Chicago Water Tower: 415 Rooms; 10,000 sf
Slide 13: Chicago Investor Tour - May 2015
13 Chicago Investor Tour - May 2015
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