ITEM 7.01 REGULATION FD DISCLOSURE. On January 10, 2022, Braemar Hotels & Resorts Inc. (the "Company") issued a press release announcing that its Board of Directors:

a) declared a quarterly cash dividend for the first quarter ending March 31, 2022, of $0.3438 per diluted share, for the Company's 5.5% Series B Cumulative Convertible Preferred Stock. This dividend is payable on April 15, 2022, to stockholders of record as of March 31, 2022;

b) declared a quarterly cash dividend for the first quarter ending March 31, 2022, of $0.5156 per diluted share, for the Company's 8.25% Series D Cumulative Preferred Stock. This dividend is payable on April 15, 2022, to stockholders of record as of March 31, 2022;

c) declared a monthly cash dividend for the Company's Series E Redeemable Preferred Stock equal to a quarterly rate of $0.50 per share, payable as follows: $0.1666 per share will be paid on February 15, 2022 to stockholders of record as of January 31, 2022; $0.1666 per share will be paid on March 15, 2022 to stockholders of record as of February 28, 2022; and $0.1666 per share will be paid on April 15, 2022 to stockholders of record as of March 31, 2022; and

d) declared a monthly cash dividend for the Company's Series M Redeemable Preferred Stock equal to a quarterly rate of $0.5125 per share, payable as follows: $0.1708 per share will be paid on February 15, 2022 to stockholders of record as of January 31, 2022; $0.1708 per share will be paid on March 15, 2022 to stockholders of record as of February 28, 2022; and $0.1708 per share will be paid on April 15, 2022 to stockholders of record as of March 31, 2022.

As of December 31, 2021, there were 1,708,883 shares of the Company's Series E Redeemable Preferred Stock and 29,044 shares of the Company's Series M Redeemable Preferred Stock issued and outstanding.

The Board also announced that it plans to continue its suspension of the common stock dividend into 2022 to protect liquidity and will evaluate future dividend declarations on a quarterly basis going forward.

A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference. The information in this Form 8-K and Exhibits attached hereto shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, except as shall be expressly set forth by specific reference in such filing.

ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS.



(d) Exhibits

Exhibit
Number   Exhibit Description

99.1 Press Release of the Company, dated January 10, 2022, furnished under Item 7.01, announcing the declaration of dividends 104 Cover Page Interactive Data File (formatted in Inline XBRL and contained in Exhibit 101)

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