What is the implied price‑per‑key valuation compared to other recent hotel sale multiples in the market?

Implied valuation: The transaction closed at $393,000 per key (369 rooms ÷ $145 M).

Market comparison: Recent U.S. hotel disposals have clustered around a  $350‑$450 k per‑key range for upscale assets and $300‑$350 k for mid‑scale properties. For example, a 2024 sale of a 300‑room boutique hotel in Denver fetched roughly $380 k per key, while a 2025 sale of a 400‑room premium‑city‑center hotel in Chicago was priced at about $460 k per key. Braemar’s $393 k per key therefore sits mid‑tier—slightly above the median for mid‑scale deals but comfortably below the premium‑city‑center premium. It signals a respectable, though not top‑end, valuation for a well‑located, 4‑star urban property.

Trading implications:

- Fundamentals: The price is in line with market expectations for a high‑quality, waterfront asset, suggesting Braemar’s portfolio is being monetised at a fair multiple. The cash inflow should improve its balance sheet and may fund near‑term growth projects or debt reduction, a positive catalyst for the stock.

- Technical outlook: Braemar shares have been trading near the 200‑day moving average after the announcement, with modest upside potential if the market prices in the improved liquidity and the “clean‑exit” narrative. A breakout above the recent resistance at $22‑$23 could attract momentum traders, while a breach below $19 may signal a re‑valuation of the deal’s impact.

- Actionable view: Given the solid but not premium per‑key price, the market is likely to view the sale as a value‑adding event. A buy‑on‑dip position if the stock retests the 200‑day average, or a short‑term swing‑long on a breakout, aligns with the fundamentals of a cash‑rich, well‑positioned hotel operator.