On May 16, 2024, Blackwells Capital LLC announced that on May 14, 2024, Braemar Hotels & Resorts Inc issued a press release congratulating Ashford?s victory after stockholders voted out Chairman Monty J. Bennett and director Kamal Jafarnia, and both directors were forced to tender their resignations pursuant to Ashford?s corporate governance guidelines. In addition, Blackwells Capital?s Chief Investment Officer Jason Aintabi said that for the Company to issue a press release congratulating the board of directors at a supposedly separate public company for its successful employment of entrenchment tactics to preserve the seats of 2 losing directors highlights the lack of separation between the Company and other companies in the Monty Bennett sphere of influence, it further foreshadows the types of improper entrenchment mechanisms that Monty and other board nominees will employ at the Company to prevent independent voices from gaining access to the boardroom, and Blackwells Capital stated that it will held the Company board and Monty Bennett to account for destruction of shareholder value at the Company.