Company: BHR-PD
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001574085-25-000130
Chunk: 201

Company: Braemar Hotels & Resorts Inc.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 8
Chunk 201
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 of operations during the nine months ended September 30, 2025 and 2024:

Nine Months Ended September 30,20252024Occupancy67.26 %68.91 %ADR (average daily rate)$480.86 $446.95 RevPAR (revenue per available room)$323.44 $308.00 Rooms revenue (in thousands)$331,617 $347,206 Total hotel revenue (in thousands)$538,453 $555,064 

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

Nine Months Ended September 30,20252024Occupancy66.61 %67.41 %ADR (average daily rate)$497.57 $480.71 RevPAR (revenue per available room)$331.45 $324.03 Rooms revenue (in thousands)$313,175 $307,236 Total hotel revenue (in thousands)$514,685 $496,609 

Net Income (Loss) Attributable to the Company. Net income attributable to the Company decreased $5.7 million from $17.0 million for the nine months ended September 30, 2024 (the “2024 period”) to $11.3 million for the nine months ended September 30, 2025 (the “2025 period”), as a result of the factors discussed below.

Rooms Revenue. Rooms revenue decreased $15.6 million to $331.6 million during the 2025 period compared to the 2024 period primarily due to the sales of Marriott Seattle Waterfront in August 2025 and Hilton La Jolla Torrey Pines in July 2024. During the 2025 period, our 14 comparable hotel properties experienced a 3.5% increase in room rates and an 80 basis point decrease in occupancy compared to the 2024 period. 

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

Hotel PropertyFavorable (Unfavorable)Rooms RevenueOccupancy (change in bps)ADR(change in %)Comparable Capital Hilton (2)$(100)(424)5.5 %The Notary Hotel