Company: BHR-PD
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001574085-25-000130
Chunk: 192

Company: Braemar Hotels & Resorts Inc.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 8
Chunk 192
---
 results of operations during the three months ended September 30, 2025 and 2024:

Three Months Ended September 30,20252024Occupancy65.24 %68.50 %ADR (average daily rate)$395.60 $376.20 RevPAR (revenue per available room)$258.10 $257.70 Rooms revenue (in thousands)$85,701 $92,427 Total hotel revenue (in thousands)$143,556 $148,398 

The following table illustrates the key performance indicators of the 14 hotel properties that were owned for the full three months ended September 30, 2025 and 2024:

Three Months Ended September 30,20252024Occupancy64.25 %66.34 %ADR (average daily rate)$394.58 $377.91 RevPAR (revenue per available room)$253.50 $250.71 Rooms revenue (in thousands)$80,719 $79,829 Total hotel revenue (in thousands)$137,424 $132,466 

Net Income (Loss) Attributable to the Company. Net income attributable to the Company decreased $6.9 million, from $12.6 million for the three months ended September 30, 2024 (the “2024 quarter”) to $5.7 million for the three months ended September 30, 2025 (the “2025 quarter”), as a result of the factors discussed below.

Rooms Revenue. Rooms revenue decreased $6.7 million, or 7.3%, to $85.7 million during the 2025 quarter compared to the 2024 quarter primarily due to the sales of Marriott Seattle in August 2025 and Hilton La Jolla Torrey Pines in July 2024. During the 2025 quarter, our 14 comparable hotel properties experienced a 209 basis point decrease in occupancy and a 4.4% increase in room rates.

37

Fluctuations in rooms revenue between the 2025 quarter and the 2024 quarter are a result of the changes in occupancy and ADR between the 2025 quarter and the 2024 quarter as reflected in the table below (dollars in thousands):

Hotel PropertyFavorable (Unfavorable) Rooms RevenueOccupancy (change in bps)ADR (change in %)Comparable Capital Hilton$(1,080)(688)(2.8)%The Not