BMS Braemar Plc

The candidates, with expertise across real estate, finance, investing, law, accounting and corporate governance, will stand for election at Braemar’s annual shareholder meeting.

Since the real estate investment trust announced in June that it would end a controversial management deal with its chairman Monty Bennett—with a payment of half a billion dollars—the REIT’s stock has fallen 30%, to a recent $1.87. On Tuesday, Braemar’s largest outside shareholder said it was ready to wage a proxy fight for control of the REIT’s board when shareholders vote on Nov. 13. “Shareholders are entitled to a genuine choice regarding who represents them in the boardroom,” announced Al Shams Investments, a vehicle of billionaire Wafic Saïd that owns just under 10% of Braemar shares.

The trust’s largest shareholder is looking to fill five board seats as it clashes with Braemar Hotels & Resorts on its decision to split from Ashford Inc. and become self-managed.

Middle Eastern oil producers are scrambling to secure their own shipping capacity as the Strait of Hormuz crisis drives tanker prices and charter rates to record highs.

Sixth Street Partners and Riller Capital acquired the 142-room Pier House Resort in Key West from Braemar Hotels for $190 million.

The sale of Florida’s luxury Pier House Resort & Spa to Sixth Street marks “meaningful progress” in Braemar’s management spin-out from Ashford Inc., per CEO Richard Stockton.