Shareholder ‘Betrayal’: Al Shams Weighs in on Braemar’s Split From Ashford

Shareholder ‘betrayal’: Al Shams weighs in on Braemar’s split from Ashford

Braemar Hotels & Resorts’ largest shareholder has accused the trust of “self-dealing” and is threatening legal action following its termination of an advisory agreement with Ashford Inc.

Braemar's Largest Shareholder Calls $480M Breakup Fee 'Theft Dressed In A Suit'

Braemar Hotels & Resorts’ largest shareholder is preparing for battle to stop the REIT from paying nearly half a billion dollars to its outgoing chairman in a deal it called “one of the most brazen acts of self-dealing we have ever witnessed.” Saudi-Canadian businessman Wafic Rida Said's Al Shams Investments Ltd., Breamar’s largest investor, in a letter Monday said the REIT's board wasn't acting in the best interest of shareholders when it outli…