Braemar Hotels & Resorts, Inc. provided operating guidance for the first quarter of 2022. The company expects to report occupancy of approximately 55% for the first quarter of 2022 with an average daily rate (ADR) of approximately $597 resulting in RevPAR of approximately $328. This RevPAR reflects an approximate increase of 69% compared to the first quarter of 2021 and an approximate increase of 20% compared to the first quarter of 2019.

The preliminary operating information discussed assumes the 15 hotel properties owned and included in the company's operations at March 31, 2022, were owned as of the beginning of 2019.