Company: BHR-PD
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0001574085-25-000024
Chunk: 281

Company: Braemar Hotels & Resorts Inc.
Filing Date: 2025-03-12
Form: 10-K
Item: Item 8
Chunk 281
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ORTS INC. AND SUBSIDIARIESNOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)

The following tables include revenues, significant hotel operating expenses, and Hotel Adjusted EBITDA for the Company’s hotels, reconciled to the consolidated amounts included in the Company’s consolidated statements of operations (in thousands):Year Ended December 31,202420232022REVENUERooms$452,361 $464,899 $431,515 Food and beverage181,250 185,331 159,241 Other hotel revenue94,793 89,112 78,829 Total hotel revenue$728,404 $739,342 $669,585 EXPENSESRooms$106,465 $105,439 $94,410 Food and beverage145,901 144,544 125,555 Direct expenses32,824 31,887 28,842 Indirect expenses:Property, general and administration62,214 59,714 53,412 Sales and marketing49,331 48,998 40,078 Information and telecommunications systems8,331 8,159 6,521 Repairs and maintenance30,732 29,587 25,509 Energy23,696 24,603 22,205 Lease expense4,052 6,283 6,190 Ownership expenses3,765 3,912 3,575 Incentive management fee8,037 9,935 12,466 Management fees22,837 22,839 19,950 Property taxes23,745 21,343 19,236 Other taxes1,571 1,171 677 Insurance16,766 14,489 10,454 540,267 532,903 469,080 Hotel adjusted EBITDA$188,137 $206,439 $200,505 Reconciliation of hotel operating income (loss) to net income (loss)Year Ended December 31,202420232022Hotel adjusted EBITDA$188,137 $206,439 $200,505 Ownership expenses included in other hotel expenses(2,882)(4,834)(6,575)Ownership expenses included in property taxes, insurance and other(426)(1,626)(399)Management fees(663)(422)(199)Depreciation and amortization(98,733)(93,272