Braemar Contracts the Four Seasons Scottsdale at $372 Million
Braemar Hotels & Resorts holds a contract to sell the Four Seasons Resort Scottsdale at Troon North for $372 million. The buyer is Evergreen Acquisitions LLC, a Delaware company unaffiliated with Braemar.
The price works out at $1.8 million a key. The figure includes a $23 million capital programme at the property. Braemar puts the capitalisation rate at 6.2 per cent on net operating income for the trailing twelve months to August 2026.
Closing is set for 22 October 2026. The purchase agreement took effect on 23 September 2026 and came with a $10 million deposit that turned non-refundable. Conditions remain open, and the company states it gives no assurance that the sale completes on those terms.
The Bill It Pays
The proceeds cover the remainder of the Company Sale Fee and the Master Agreement Termination Fee owed to Ashford Inc. Braemar expects separation from Ashford by mid-November 2026, with the move to self-management in the same window.
Three sales closed over the summer. The Ritz-Carlton Sarasota, the Hotel Yountville and the Bardessono Hotel and Spa went together on 14 July for $437.5 million. The 142-key Pier House Resort & Spa followed on 21 August for $190.0 million.
The smaller corporate structure takes general and administrative cost from about $42 million a year to about $15 million. Braemar counts the saving at more than $25 million a year.
The Al Shams Fight Is Over
Braemar, Ashford Hospitality Trust Inc. and Ashford Inc. signed a Cooperation and Settlement Agreement with Al Shams Investments Limited on 6 October 2026. The filing followed on 8 October.
Al Shams withdrew the notice that put director candidates before the annual meeting. The agreement carries standstill restrictions, voting commitments and mutual releases. It closes the disputes between the parties, including the securities claims and the defamation and libel claims.
Braemar pays Al Shams $25 million plus expenses. Insurance proceeds and Ashford's half under a separate Allocation Agreement cut Braemar's own contribution to between $4 million and $6 million.
The Al Shams side consults Braemar's search firm on candidates for one more director seat. The board holds the decision.
Seven Hotels Left
Braemar runs seven properties after the sale: the Ritz-Carlton Reserve Dorado Beach, The Ritz-Carlton St. Thomas, the Capital Hilton, The Notary Hotel in Philadelphia, the Sofitel Chicago Magnificent Mile, The Ritz-Carlton Lake Tahoe and Cameo Beverly Hills.
Five sit in the luxury class and two in the upper upscale class, on the company's own count. The annual stockholders meeting moves to 21 December 2026 from 13 November.