Al Shams Investments Releases Open Letter to the Independent Members of the Board of Directors of Braemar Hotels

Published: 2026-05-08 12:05:37 ET BHR

Published on 05/08/2026 at 12:05 pm EDT

On May 8, 2026, Al Shams Investments Limited issued a letter to Braemar Hotels & Resorts Inc.?s independent members of the Board of Directors announcing its intention to seek the election of new directors at the Company?s 2026 Annual Meeting and urging the independent directors to pause further hotel divestitures until shareholders have the opportunity to elect a new Board, warning that pursuing individual hotel asset sales could trigger a Company change of control under the Advisory Agreement with Ashford Inc., resulting in a termination payment in excess of $480 million to the Advisor before any proceeds flow to the Company or its shareholders, creating a situation in which the Advisor would assume the position of a senior, super-priority creditor and raising concerns about conflicts of interest involving Chairman Monty Bennett. In addition, Al Shams Investments, stating that the Board?s strategic review process is rife with potential and actual conflicts, that several directors have been rejected by shareholders and lack shareholder trust and confidence, and that if the Board proceeds with asset sales that benefit the Advisor and harm shareholders, Al Shams will not hesitate to pursue legal action and challenge any transaction or payment of a termination fee.