Company: BHR-PD
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0001574085-25-000024
Chunk: 27

Company: Braemar Hotels & Resorts Inc.
Filing Date: 2025-03-12
Form: 10-K
Item: Item 1
Chunk 27
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Selected Financial Information. The following table shows certain selected financial information regarding The Ritz-Carlton Reserve Dorado Beach since 2022 (dollars in thousands):

Year Ended December 31, Year Ended December 31, 2022 (Combined)Period from March 11, 2022 through December 31, 2022Period from January 1, 2022 through March 10, 202220242023Total Revenue$78,388 $83,744 $76,415 $61,246 $15,169 Rooms Revenue (1)49,994 46,937 43,484 34,817 8,666 Hotel net income (2)5,762 13,480 9,672 7,583 2,089 Hotel net income margin7.4 %16.1 %12.7 %12.4 %13.8 %Hotel EBITDA (3)19,138 20,924 18,521 14,887 3,634 Hotel EBITDA Margin (3)24.4 %25.0 %24.2 %24.3 %24.0 %

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(1)    Rooms revenue does not include the operations of the voluntary rental program with respect to residential units not owned by the Company.

(2)    Hotel net income (loss) for the periods before the Company’s ownership includes the predecessor hotel net income (loss) and adjustments for depreciation and interest as if the Company owned the hotel during the predecessor periods.

(3)    See “Management’s Discussion and Analysis of Financial Condition and Results of Operations—Non-GAAP Financial Measures” for a reconciliation of net income (loss) to Hotel EBITDA by property. 

The hotel operating results for the period from March 11, 2022 through December 31, 2022 represent the operating results since the acquisition of the hotel on March 11, 2022. The hotel operating results for the period from January 1, 2022 through March 10, 2022 represent the period before our ownership and were obtained from the prior owner. The Company performed a limited review of the information as part of its analysis of the acquisition. No financial statements were prepared, audited or reviewed for the period from January 1, 2022 through March 10, 2022.

Four Seasons Resort, Scottsdale, Arizona

On December