<SEC-DOCUMENT>0001213900-25-112094-index.html : 20251118
<SEC-HEADER>0001213900-25-112094.hdr.sgml : 20251118
<ACCEPTANCE-DATETIME>20251118160521
ACCESSION NUMBER:		0001213900-25-112094
CONFORMED SUBMISSION TYPE:	SCHEDULE 13D
PUBLIC DOCUMENT COUNT:		3
FILED AS OF DATE:		20251118
DATE AS OF CHANGE:		20251118

SUBJECT COMPANY:	

	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
		EIN:				462488594
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13D
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-87737
		FILM NUMBER:		251494605

	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

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Blackwells Capital LLC
		CENTRAL INDEX KEY:			0001720183
		ORGANIZATION NAME:           	
		EIN:				815196117
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13D

	BUSINESS ADDRESS:	
		STREET 1:		800 THIRD AVENUE
		STREET 2:		39TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022
		BUSINESS PHONE:		212-792-6096

	MAIL ADDRESS:	
		STREET 1:		800 THIRD AVENUE
		STREET 2:		39TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022
</SEC-HEADER>
<DOCUMENT>
<TYPE>SCHEDULE 13D
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
Document 1 - file: primary_doc.html

Document 1 - RAW XML: primary_doc.xml

</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>ea026522901ex99-1_blackwells.htm
<DESCRIPTION>JOINT FILING AGREEMENT, DATED NOVEMBER 18, 2025
<TEXT>
Document 2 - file: ea026522901ex99-1_blackwells.htm

</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.2
<SEQUENCE>3
<FILENAME>ea026522901ex99-2_blackwells.htm
<DESCRIPTION>SCHEDULE OF TRANSACTIONS FOR ITEM 5(C) OF SCHEDULE 13D
<TEXT>
Document 3 - file: ea026522901ex99-2_blackwells.htm

</DOCUMENT>
</SEC-DOCUMENT>