Company: BHR-PD
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0001574085-25-000024
Chunk: 47

Company: Braemar Hotels & Resorts Inc.
Filing Date: 2025-03-12
Form: 10-K
Item: Item 1
Chunk 47
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 Fee and the Incentive Fee paid to Operator in any given Fiscal Year exceed 6% of gross revenues for such Fiscal Year1% of gross revenues for each fiscal year$9,059,563 plus 10% of the amount of certain owner-funded renovation expenditures, plus 10% of any other owner-funded capital expenditures after 1/1/2022 that were approved by manager, plus a varying additional credit based on the number of condominium units (which are to be constructed) in the voluntary rental programNot applicableCameo Beverly Hills Greater of $17,320 monthly or 3%The lesser of 1% of gross revenues or the amount by which actual house profit exceeds budgeted house profitNot applicableNot applicableNot applicableThe Ritz-Carlton Reserve Dorado Beach3%, comprised of a management fee of 0.4% and a royalty fee of 2.6%$250,000 if Net House Profit exceeds Owner’s Priority plus 20% of the excess of Net House Profit over Owner’s Priority with annual true-up1% of Gross Revenues plus allocation of reimbursable expenses$14,455,110 plus (a) 11% of any operating losses funded by owner, plus (b) 11% of certain non-routine capital expenditures incurred by manager and certain non-routine owner-funded capital expenditures, plus (c) $100,000 time the number of condominium units in the voluntary rental program at the beginning of each FY, plus (d) an amount negotiated at the beginning of each year for the West Beach Estates and East Beach Villas participating in the standard and flexible voluntary rental program Not applicableFour Seasons Resort Scottsdale3.5%, comprised of a management fee of 3.0% and a royalty fee of 0.5%7.5% of the amount of operating profit (after deducting property taxes, insurance premiums, and expenditures from the capital reserve) for a particular period, minus the Hurdle Amount applicable for the same period. If there is a negative incentive fee in any year, the negative balance will carry forward and operate as a hurdle to future incentive fees1.47% of budgeted gross revenues.$19,741,351.59 (to be reduced to zero in January 1, 2039). Any Additional Capital will be reduced to zero 15 years after made.Not applicable

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(1)    Management fee is expressed as a percentage of gross hotel revenue.

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(2)    Owner’s priority