Braemar Hotels & Resorts invests primarily in hotels and resorts. The company conducts its business and owns substantially all of its assets through its operating partnership, Braemar OP. The company operates in the direct hotel investment segment of the hotel lodging industry. The company owns interests in hotel properties in various states, the District of Columbia and St. Thomas, U.S. Virgin Islands. The hotel properties in the company's portfolio are primarily located in U.S. urban and resort locations. The company is advised by Ashford LLC, a subsidiary of Ashford Inc., through an advisory agreement. All of the hotel properties in the company's portfolio are asset-managed by Ashford LLC.

Trecora Resources is engaged in the manufacturing of various petrochemical products and synthetic waxes and the provision of custom processing services. The company also owns an interest in Al Masane Al Kobra Mining Company, a Saudi Arabian closed joint stock mining company, which is engaged in the commercial production of copper and zinc concentrates and silver and gold dore, and an interest in Pioche Ely Valley Mines, Inc., a mining corporation which owns undeveloped properties in the U.S. The company has two segment: the manufacturing of various specialty petrochemical products through South Hampton Resources, Inc. and the manufacturing of specialty synthetic waxes through Trecora Chemical, Inc.