15 unchanged sentences
The case is now in the settlement administration phase.
−Removed: As of March 31, 2026, the settlement liability amount has been accrued.
+Added: Settlement distributions were scheduled to begin on July 22, 2026, and the Court has set a compliance hearing for November 18, 2026.
+Added: As of June 30, 2026, the settlement liability amount has been accrued.
On June 8, 2022, a lawsuit was filed against various Hilton entities on behalf of a class of all hourly employees at all Hilton-branded managed properties in California, including Hilton La Jolla Torrey Pines.
2 unchanged sentences
At the end of the mediation, the mediator submitted a mediator’s proposal for approximately $3.5 million, which the parties have since agreed to.
−Removed: The allocation to Hilton La Jolla Torrey Pines
−Removed: is approximately $401,000, which was accrued as of March 31, 2026.
−Removed: The Court granted a motion for preliminary approval of the settlement on October 27, 2025, and a hearing on the motion for final approval was set for April 20, 2026, and the ruling is pending.
+Added: The allocation to Hilton La Jolla Torrey Pines is approximately $401,000, which was accrued as of June 30, 2026.
+Added: The Court granted a motion for preliminary approval of the settlement on October 27, 2025.
+Added: A hearing on the motion for final approval occurred on April 20, 2026, and the Court entered a final judgment.
On August 4, 2020, a lawsuit, Benjamin Zermeno v.
9 unchanged sentences
Braemar’s portion of the settlement is approximately $679,000.
−Removed: As of March 31, 2026, the settlement liability amount has been accrued.
+Added: As of June 30, 2026, the settlement liability was paid in full.
On February 6, 2024, we received a Request for Information Under Section 114 of the Clean Air Act dated January 11, 2024, from the Environmental Protection Agency (EPA), Region 2, relating to The Ritz-Carlton St.
4 unchanged sentences
Since this meeting, we have been working with the hotel management team to ensure full compliance with all applicable regulatory requirements at the hotel, including ensuring all appropriate hotel employees have all applicable certifications, engaging third-party environmental consultants, working with outside counsel, preparing standard operating procedures for the hotel, and reviewing options relating to the operation of the hotel’s generators.
−Removed: As of the date of this Quarterly Report on Form 10-Q, conversations with the EPA are ongoing.
+Added: This matter has been resolved for approximately $350,000, which has been accrued as of June 30, 2026, with no admission with respect to the factual allegations or alleged violations.
+Added: On June 12, 2026, the Company announced its intention to terminate the Advisory Agreement with Ashford Inc.
+Added: and transition to a self-managed REIT.
+Added: In connection with the pending asset sale transactions and the planned termination of the Advisory Agreement, certain shareholders have publicly expressed opposition to aspects of the asset sale transactions and the termination of the Advisory Agreement, and have indicated an intention to pursue legal remedies.
+Added: There can be no assurance that litigation will not be commenced or, if commenced, that it will be resolved quickly or in the Company’s favor.
+Added: If a court were to issue a temporary restraining order, preliminary injunction, or other form of equitable relief, the closing of one or more pending hotel sale transactions could be prevented or delayed, which could in turn prevent or delay the termination of the
+Added: Advisory Agreement.
+Added: In such event, the anticipated reduction in general and administrative costs of more than $25 million annually would not be realized, and the other expected benefits of self-management would be delayed or not achieved.
We are also engaged in other legal proceedings that have arisen but have not been fully adjudicated.
7 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.