Al Shams Investments Escalates Governance Fight With Braemar Hotels

The dispute centers on a $480 million termination fee paid to a company controlled by Bennett following the sale of three hotel properties. Al Shams claims this transaction exemplifies a broader pattern of enrichment at the expense of public shareholders. Since its 2013 spin-off from Ashford Inc., Braemar’s stock price has cratered from approximately $20 per share to roughly $2, fueling investor ire over executive compensation and governance standards.

Al Shams has secured court-authorized subpoenas to depose former Braemar directors, a move Saïd describes as a necessary step to establish the truth. In response to recent public allegations from the company questioning his character, Saïd denied any ties to Jeffrey Epstein and defended his historical role in the Al Yamamah arms deal, characterizing the accusations as a calculated distraction. He challenged Bennett to finally hold an annual meeting to allow shareholders to vote on the company’s current direction and the contested termination fees.