Company: BHR-PD
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0001574085-25-000092
Chunk: 13

Company: Braemar Hotels & Resorts Inc.
Filing Date: 2025-08-11
Form: 10-Q
Item: Part I, Item 1
Chunk 13
---
RICTED CASHCash and cash equivalents at beginning of period$135,465 $85,599 Restricted cash at beginning of period49,592 80,904 Cash, cash equivalents and restricted cash at beginning of period$185,057 $166,503 Cash and cash equivalents at end of period$80,226 $114,607 Restricted cash at end of period55,463 52,339 Cash, cash equivalents and restricted cash at end of period$135,689 $166,946 Cash and cash equivalents at end of period included in assets held for sale— 5,711 Restricted cash at end of period included in assets held for sale— 8,402 Cash, cash equivalents and restricted cash at end of period (including cash, cash equivalents and restricted cash held for sale)$135,689 $181,059 

See Notes to Condensed Consolidated Financial Statements.

8

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

1. Organization and Description of Business

Braemar Hotels & Resorts Inc., together with its subsidiaries (“Braemar”), is a Maryland corporation that invests primarily in high revenue per available room (“RevPAR”) luxury hotels and resorts. High RevPAR, for purposes of our investment strategy, means RevPAR of at least twice the then-current U.S. national average RevPAR for all hotels as determined by STR, LLC. Braemar has elected to be taxed as a real estate investment trust (“REIT”) under the Internal Revenue Code of 1986, as amended (the “Code”). Braemar conducts its business and owns substantially all of its assets through its operating partnership, Braemar Hospitality Limited Partnership (“Braemar OP”). Terms such as the “Company,” “we,” “us” or “our” refer to Braemar Hotels & Resorts Inc. and, as the context may require, all entities included in its condensed consolidated financial statements.We are advised by Ashford Hospitality Advisors LLC (“Ashford LLC” or the “Advisor”) through an advisory agreement. Ashford LLC is a subsidiary of Ashford Inc. All of the hotel properties in our portfolio are currently asset-managed by Ashford LLC. We do not have any employees. All of the services that might be provided by employees are provided to us by Ashford LLC.We do not operate