Company: BHR-PD
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0001574085-25-000024
Chunk: 172

Company: Braemar Hotels & Resorts Inc.
Filing Date: 2025-03-12
Form: 10-K
Item: Item 7
Chunk 172
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 million from a net loss of $27.0 million for the year ended December 31, 2023 (“2023”) to $1.7 million for the year ended December 31, 2024 (“2024”), as a result of the factors discussed below.

Rooms Revenue. Rooms revenue decreased $12.5 million to $452.4 million during 2024 compared to 2023 primarily due to the sale of the Hilton La Jolla Torrey Pines in July 2024. During 2024, we experienced an increase of 0.1% in room rates and a 69 basis point increase in occupancy compared to 2023. 

Fluctuations in rooms revenue between 2024 and 2023 are a result of the changes in occupancy and ADR between 2024 and 2023 as reflected in the table below (dollars in thousands):

Hotel PropertyFavorable (Unfavorable)Rooms RevenueOccupancy (change in bps)ADR(change in %)Comparable Capital Hilton (1) (2)$5,549 571 4.9 %Marriott Seattle Waterfront1,907 227 3.1 %The Notary Hotel2,420 456 1.5 %The Clancy (2,747)(453)(2.4)%Sofitel Chicago Magnificent Mile2,437 223 5.9 %Pier House Resort & Spa(1,123)(130)(3.2)%The Ritz-Carlton St. Thomas (1)(2,929)(264)(2.5)%Park Hyatt Beaver Creek Resort & Spa(1,284)70 (6.6)%Hotel Yountville(978)(102)(6.6)%The Ritz-Carlton Sarasota (1) (2)(672)(52)(1.2)%Bardessono Hotel and Spa (1)(1,691)(526)(2.8)%The Ritz-Carlton Lake Tahoe (1) (2)1,449 218 1.1 %Cameo Beverly Hills(2,115)(583)(11.1)%The Ritz-Carlton Reserve Dorado Beach(442)(146)1.4 %Four Seasons Resort Scottsdale915 549 (8.2)%Total$696 128 (2.3)%Non-comparableHilton La Jolla Torrey Pines$(13,234)29 (0.9