On May 7, 2024, Blackwells Capital LLC announced that it has commented on the recent disclosure that the Braemar Hotels & Resorts Inc has announced a shareholder value creation plan and entered into a definitive agreement to sell the iconic Hilton La Jolla Torrey Pines, and stating that the Company claims to have a plan to create shareholder value, meanwhile, Monty Bennett, Archibald, and Company?s advisor, Ashford LLC have been paid hundreds of millions of dollars under their Advisory Agreement, and Blackwells Capital demand that the Board halt the sale of the Hilton La Jolla Torrey Pines until all aspects of the transaction are disclosed to shareholders, including any benefits to Monty Bennett and his affiliates, and further demand that the Board sell no additional assets until shareholders have had an opportunity to vote on a full and fair director election at the 2024 annual meeting. In addition, Blackwells Capital stated that selling an asset at fire sale pricing, and announcing a buyback of a stock that has cratered under the jackboot of self-dealing, further confirms its view that urgent change is needed, shareholders will have the opportunity to bring that change by supporting its? director candidates at the upcoming annual meeting, and Blackwells Capital stated that it has nominated Jennifer M. Hill, Betsy L. McCoy, Steven J. Pully and Michael Cricenti for election to the Board of the Company at the Company?s 2024 annual meeting of shareholders to be held on July 30, 2024.