Braemar Hotels & Resorts, a real estate investment trust, completed the acquisition of Dorado Beach, a Ritz-Carlton Reserve in Dorado, for $187m. "The acquisition of Dorado Beach, a Ritz-Carlton Reserve is an opportunity for us to acquire one of the most iconic luxury assets in the Americas. As the first Ritz-Carlton Reserve in the Americas and one of only five Ritz-Carlton Reserve properties worldwide, this unique property fits perfectly with our strategy of owning high RevPAR luxury hotels and resorts and further diversifies our portfolio," Richard J. Stockton, Braemar President and CEO.