<SEC-DOCUMENT>0001574085-24-000047.txt : 20250124
<SEC-HEADER>0001574085-24-000047.hdr.sgml : 20250124
<ACCEPTANCE-DATETIME>20240401212348
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001574085-24-000047
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		3
FILED AS OF DATE:		20240401

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Braemar Hotels & Resorts Inc.
		CENTRAL INDEX KEY:			0001574085
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE INVESTMENT TRUSTS [6798]
		ORGANIZATION NAME:           	05 Real Estate & Construction
		IRS NUMBER:				462488594
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		14185 DALLAS PARKWAY
		STREET 2:		SUITE 1100
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75254
		BUSINESS PHONE:		(972) 490-9600

	MAIL ADDRESS:	
		STREET 1:		14185 DALLAS PARKWAY
		STREET 2:		SUITE 1100
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75254

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Ashford Hospitality Prime, Inc.
		DATE OF NAME CHANGE:	20130410
</SEC-HEADER>
<DOCUMENT>
<TYPE>CORRESP
<SEQUENCE>1
<FILENAME>filename1.htm
<TEXT>
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<title>Document</title></head><body><div id="i99d803a81a29478ba62badb5eb4c6d0c_1"></div><div style="min-height:49.68pt;width:100%"><div><font><br></font></div></div><div style="padding-left:18pt;padding-right:31.5pt"><img alt="image_0.jpg" src="image_0.jpg" style="height:71px;margin-bottom:5pt;vertical-align:text-bottom;width:711px"></div><div style="padding-left:18pt;padding-right:27pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">&#160;</font></div><div style="margin-top:12pt;padding-left:18pt;padding-right:27pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">April 1, 2024</font></div><div style="margin-top:12pt;padding-left:18pt;padding-right:27pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">VIA EDGAR </font></div><div style="margin-top:12pt;padding-left:18pt;padding-right:27pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Securities and Exchange Commission </font></div><div style="padding-left:18pt;padding-right:27pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Division of Corporation Finance </font></div><div style="padding-left:18pt;padding-right:27pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Office of Mergers &#38; Acquisitions </font></div><div style="padding-left:18pt;padding-right:27pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">100 F Street, NE </font></div><div style="padding-left:18pt;padding-right:27pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Washington, D.C. 20549</font></div><div style="margin-top:12pt;padding-left:18pt;padding-right:27pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Re&#58;   Braemar Hotels &#38; Resorts Inc.</font></div><div style="padding-left:18pt;padding-right:27pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">DEF 14A filed March 28, 2024</font></div><div style="padding-left:18pt;padding-right:27pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">File No. 001-35972</font></div><div style="margin-top:12pt;padding-left:18pt;padding-right:27pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Ladies and Gentlemen&#58; </font></div><div style="margin-top:12pt;padding-left:18pt;padding-right:36pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On behalf of Braemar Hotels &#38; Resorts Inc., a Maryland corporation (the &#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Company</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221;), we are transmitting this letter in response to comments received from the staff (the &#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Staff</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221;) of the Securities and Exchange Commission by letter dated March 29, 2024 with respect to the Company&#8217;s Proxy Statement filed March 28, 2024 in respect of the Company&#8217;s 2024 Annual Meeting of Stockholders using the EDGAR tag &#8220;DEF 14A&#8221; (the &#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Filed Proxy Statement</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221;). This letter is being submitted together with the Company&#8217;s re-submission of such Filed Proxy Statement, revised to be filed as a preliminary proxy statement using the EDGAR tag &#8220;PREC14A&#8221;, on April 1, 2024 (the &#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Preliminary Proxy Statement</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221;). The Preliminary Proxy Statement includes revisions by the Company to address the Staff&#8217;s comments.</font></div><div style="margin-top:12pt;padding-left:18pt;padding-right:36pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The text of the Staff&#8217;s comments has been included in this letter for your convenience, and we have also set forth the Company&#8217;s response to such comments immediately below. Unless otherwise indicated, capitalized terms used herein have the meanings assigned to them in the Preliminary Proxy Statement. </font></div><div style="padding-left:18pt;padding-right:27pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">&#160;</font></div><div style="height:64.08pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">1</font></div><div><font><br></font></div></div></div><div id="i99d803a81a29478ba62badb5eb4c6d0c_4"></div><hr style="page-break-after:always"><div style="min-height:49.68pt;width:100%"><div><font><br></font></div></div><div style="padding-left:18pt;padding-right:27pt"><img alt="image_1.jpg" src="image_1.jpg" style="height:33px;margin-bottom:5pt;vertical-align:text-bottom;width:251px"></div><div style="margin-top:12pt;padding-left:18pt;padding-right:27pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Securities and Exchange Commission </font></div><div style="padding-left:18pt;padding-right:27pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">April 1, 2024</font></div><div style="padding-left:18pt;padding-right:27pt"><font><br></font></div><div style="padding-left:18pt;padding-right:27pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%;text-decoration:underline">DEF 14A filed March 28, 2024</font></div><div style="margin-bottom:5pt;margin-top:5pt;padding-left:41.4pt;padding-right:36pt;text-align:justify;text-indent:-27pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">1.</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:19.5pt">We note that on March 28, 2024, the Company filed a definitive proxy statement on Schedule 14A using the EDGAR tag &#8220;DEF 14A.&#8221; As discussed with counsel, please promptly re-file such proxy statement in preliminary form, using the correct &#8220;PREC14A&#8221; EDGAR tag, in light of the preliminary proxy statement filed by Blackwells Capital LLC et al. (collectively, &#8220;Blackwells&#8221;) on March 22, 2024, which proxy statement and related activity by Blackwells constitutes a &#34;solicitation in opposition,&#34; as defined in Note 3 to paragraph (a) of Exchange Act Rule 14a-6. Please include in the Company&#8217;s proxy statement the disclosure specified in Items 4(b) and 5(b) of Schedule 14A. In addition, please confirm that, pursuant to Rule 14a-6(a), the PREC14A filing will precede the filing of a definitive proxy statement by at least 10 calendar days. Finally, please confirm that no proxies will be solicited or accepted from shareholders in connection with the DEF 14A filing of March 28.</font></div><div style="margin-bottom:5pt;margin-top:5pt;padding-left:18pt;padding-right:36pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Response</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#58; The Company respectfully acknowledges the Staff&#8217;s comments and confirms that the Company has re-filed the Filed Proxy Statement in preliminary form using the &#8220;PREC14A&#8221; EDGAR tag. Additionally, the Company confirms that (i) it has included the specific disclosure specified in Items 4(b) and 5(b) of Schedule 14A in the Preliminary Proxy Statement, (ii) the Preliminary Proxy Statement will precede the filing of a subsequent definitive proxy statement by at least 10 calendar days pursuant to Rule 14a-6(a) and (iii) no proxies will be solicited or accepted from shareholders in connection with the Filed Proxy Statement. </font></div><div style="height:64.08pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">USActive 60404739.3</font></div></div></div><hr style="page-break-after:always"><div style="min-height:49.68pt;width:100%"><div><font><br></font></div></div><div style="padding-left:18pt;padding-right:27pt"><img alt="image_1.jpg" src="image_1.jpg" style="height:33px;margin-bottom:5pt;vertical-align:text-bottom;width:251px"></div><div style="margin-top:12pt;padding-left:18pt;padding-right:27pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Securities and Exchange Commission </font></div><div style="padding-left:18pt;padding-right:27pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">April 1, 2024</font></div><div style="padding-left:18pt;padding-right:27pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">&#160;</font></div><div style="margin-top:6pt;padding-left:18pt;padding-right:27pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We hope that the foregoing has been responsive to the Staff&#8217;s comments. Please do not hesitate to contact Gregory P. Patti, Jr. at (212) 504-6780 or Erica L. Hogan at (212) 504-6645 with any questions or further comments you may have regarding this filing or if you wish to discuss the above. </font></div><div style="margin-top:12pt;padding-left:18pt;padding-right:27pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Sincerely, </font></div><div style="padding-left:18pt;padding-right:27pt;text-align:justify"><font><br></font></div><div style="padding-left:18pt;padding-right:27pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Gregory P. Patti, Jr. </font></div><div style="padding-left:18pt;padding-right:27pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Erica L. Hogan </font></div><div style="margin-top:12pt;padding-left:18pt;padding-right:27pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Via E-mail&#58; </font></div><div style="padding-left:18pt;padding-right:27pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">cc&#58;&#160;&#160;&#160;&#160;Richard J. Stockton, Chief Executive Officer of Braemar Hotels &#38; Resorts Inc. </font></div><div style="padding-left:18pt;padding-right:27pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#160;&#160;&#160;&#160;Alex Rose, Executive Vice President, General Counsel and Secretary of Braemar Hotels &#38; Resorts Inc.</font></div><div style="padding-left:18pt;padding-right:27pt"><font><br></font></div><div style="padding-left:18pt;padding-right:27pt"><font><br></font></div><div style="padding-left:18pt;padding-right:27pt"><font><br></font></div><div style="padding-left:18pt;padding-right:27pt"><font><br></font></div><div style="padding-left:18pt;padding-right:27pt"><font><br></font></div><div><font><br></font></div><div style="height:64.08pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">USActive 60404739.3</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">-3-</font></div><div><font><br></font></div></div></div></body></html>
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