Company: BHR-PD
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001574085-25-000051
Chunk: 175

Company: Braemar Hotels & Resorts Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 2
Chunk 175
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, IL415 100 %415 Pier House Resort & SpaKey West, FL142 100 %142 The Ritz-Carlton St. Thomas St. Thomas, USVI180 100 %180 Park Hyatt Beaver Creek Resort & SpaBeaver Creek, CO193 100 %193 Hotel YountvilleYountville, CA80 100 %80 The Ritz-Carlton SarasotaSarasota, FL 276 100 %276 The Ritz-Carlton Lake Tahoe (1)Truckee, CA170 100 %170 Cameo Beverly Hills (2)Los Angeles, CA143 100 %143 The Ritz-Carlton Reserve Dorado Beach (3)Dorado, Puerto Rico96 100 %96Four Seasons Resort ScottsdaleScottsdale, AZ210 100 %210Ground Lease Property (4)Bardessono Hotel and Spa (5)Yountville, CA65 100 %65 Total3,807 3,667 ________

(1)    The above information does not include the operations of the voluntary rental program with respect to condominium units not owned by the Company.

(2)    Includes 138 hotel rooms and five residences adjacent to the hotel. On August 1, 2023, the Company announced the rebranding and planned conversion of its Mr. C Beverly Hills in Los Angeles, California to the Cameo Beverly Hills. Following an extensive renovation, which is expected to be completed by the end of 2025, the hotel will join LXR Hotels & Resorts.

(3)    The above information does not include the operations of the voluntary rental program with respect to residential units not owned by the Company.

(4)    Some of our hotel properties are on land subject to ground leases, one of which covers the entire property.

(5)    The initial ground lease expires in 2065. The ground lease contains two 25-year extension options, at our election.

ITEM 3.QUANTITATIVE AND QUALITATIVE DISCLOSURE ABOUT MARKET RISK

Our primary market risk exposure consists of changes in interest rates on borrowings under our debt instruments that bear interest at variable rates that fluctuate with market interest rates. To the extent that we acquire assets or conduct operations in an international jurisdiction, we will also have currency exchange risk. We may enter into certain hedging arrangements in order to