Company: BHR-PD
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0001574085-25-000092
Chunk: 17

Company: Braemar Hotels & Resorts Inc.
Filing Date: 2025-08-11
Form: 10-Q
Item: Part I, Item 1
Chunk 17
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 issued ASU 2024-03, Income Statement – Reporting Comprehensive Income – Expense Disaggregation Disclosures (Subtopic 220-40) Disaggregation of Income Statement Expenses that requires more detailed information about specified categories of expenses (purchases of inventory, employee compensation, depreciation, amortization, and depletion) included in certain expense captions presented on the face of the statement of operations. In January 2025, the FASB issued ASU 2025-01 which amends the effective date of the new disaggregation of income statement expenses standard to clarify that all public business entities are required to adopt the guidance in annual reporting periods beginning after December 15, 2026, and interim periods within annual reporting periods beginning after December 15, 2027. Early adoption is still permitted. The amendments may be applied either: (1) prospectively to financial statements issued for reporting periods after the effective date of this ASU: or (2) retrospectively to all prior periods presented in the financial statements. We are currently evaluating the impact this ASU will have on our disclosures.

10

BRAEMAR HOTELS & RESORTS INC. AND SUBSIDIARIESNOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (continued)(unaudited)

3. Revenue

The following tables present our revenue disaggregated by geographical areas (dollars in thousands):

Three Months Ended June 30, 2025Primary Geographical MarketNumber of HotelsRoomsFood and BeverageOther HotelTotalCalifornia5$22,788 $7,530 $3,980 $34,298 Puerto Rico111,695 4,616 2,803 19,114 Arizona19,758 7,270 2,252 19,280 Colorado11,470 1,506 1,539 4,515 Florida215,173 9,725 7,126 32,024 Illinois18,511 2,522 587 11,620 Pennsylvania18,565 1,690 701 10,956 Washington18,879 1,486 974 11,339 Washington, D.C.112,818 4,472 1,155 18,445 USVI110,167 4,754 2,565 17,486 Total15$109,824 $45,571 $23,682 $179,077 Three Months Ended