Company: BHR-PD
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0001574085-25-000092
Chunk: 51

Company: Braemar Hotels & Resorts Inc.
Filing Date: 2025-08-11
Form: 10-Q
Item: Part I, Item 1
Chunk 51
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, and amortization, adjusted to exclude certain items determined by management to not be reflective of its ongoing operating performance or incurred in the normal course of business (Hotel Adjusted EBITDA). The adjustments include gains and losses on hotel dispositions, impairment charges, pre-opening costs associated with extensive renovation projects, property-level legal settlements, restructuring, severance, and management transition costs, and other expenses identified by management to be non-recurring. The CODM does not regularly review asset information by segment.

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

The following tables include revenues, significant hotel operating expenses, and Hotel Adjusted EBITDA for the Company’s hotels, reconciled to the consolidated amounts included in the Company’s condensed consolidated statements of operations (in thousands):Three Months Ended June 30,Six Months Ended June 30,2025202420252024REVENUERooms$109,824 $116,227 $245,916 $254,779 Food and beverage45,571 47,563 97,359 101,110 Other hotel revenue23,682 23,797 51,622 50,777 Total hotel revenue$179,077 $187,587 $394,897 $406,666 EXPENSESHotel expenses:Rooms$27,285 $27,476 $55,504 $55,740 Food and beverage35,767 36,664 75,977 77,381 Direct expenses8,208 7,970 17,667 17,739 Indirect expenses:Property, general and administration15,466 15,644 30,864 32,247 Sales and marketing12,557 12,624 25,730 26,005 Information and telecommunications systems1,884 2,072 3,959 4,120 Repairs and maintenance8,053 7,906 15,825 15,568 Energy5,892 5,781 11,751 11,745 Lease expense568 1,483 1,122 2,656 Ownership expenses1,172 761 2,154 1,937 Incentive management fee1,221 2,361 5,450 6,211 Management