Ashford Hospitality Prime, Inc. (NYSE: AHP) said it will change its name to Braemar Hotels & Resorts, Inc. (NYSE: BHR) with effect from April 24.
Braemar will continue to be externally-advised by Ashford Inc. (NYSE American: AINC).
“This rebranding marks an important step to better differentiate ourselves as a high-revenue per available room (RevPAR) lodging REIT and aligns with our mission to continue to maximize shareholder value,” said Richard Stockton, president and CEO of Ashford Prime.
The new name pays homage to Braemar Castle in Scotland and reinforces the REIT’s relationship with the Ashford group of companies, as the Ashford name was originally selected based on a castle in Ireland, the company explained.
(Contact: Sarah Borchersen-Keto at sborchersen-keto@nareit.com )