Company: BHR-PD
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001574085-25-000130
Chunk: 113

Company: Braemar Hotels & Resorts Inc.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 2
Chunk 113
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 Pines. At September 30, 2025, noncontrolling interest in consolidated entities represented an ownership interest of 25% in one hotel property held by one entity and a 25% ownership interest in a JV. At September 30, 2024, noncontrolling interest in consolidated entities represented an ownership interest of 25% in one hotel property held by one entity.

Net (Income) Loss Attributable to Redeemable Noncontrolling Interests in Operating Partnership. Noncontrolling interests in operating partnership were allocated a net loss of $607,000 and $124,000 in the 2025 quarter and the 2024 quarter, respectively. Redeemable noncontrolling interests in Braemar OP represented ownership interests of 6.91% and 8.05% as of September 30, 2025 and 2024, respectively.

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Nine Months Ended September 30, 2025 Compared to Nine Months Ended September 30, 2024 

The following table summarizes changes in key line items from our condensed consolidated statements of operations for the nine months ended September 30, 2025 and 2024 (in thousands except percentages):

Nine Months Ended September 30,Favorable (Unfavorable) 20252024$ Change% ChangeRevenueRooms$331,617 $347,206 $(15,589)(4.5)%Food and beverage133,996 135,891 (1,895)(1.4)%Other72,840 71,967 873 1.2 %Total hotel revenue538,453 555,064 (16,611)(3.0)ExpensesHotel operating expenses:Rooms80,232 81,288 1,056 1.3 Food and beverage106,662 109,379 2,717 2.5 Other expenses168,587 169,531 944 0.6 Management fees16,891 17,913 1,022 5.7 Total hotel operating expenses372,372 378,111 5,739 1.5 Property taxes, insurance and other26,568 30,740 4,172 13.6 Depreciation and amortization69,919 75,192 5,273 7.0 Advisory services fee21,717 23,155 1,438 6.2 Corporate general and administrative4,407 11