Company: BHR-PD
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001574085-25-000051
Chunk: 51

Company: Braemar Hotels & Resorts Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 8
Chunk 51
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 thousands)$215,820 $207,339 

Net Income (Loss) Attributable to the Company. Net income attributable to the Company decreased $4.9 million from $15.9 million for the three months ended March 31, 2024 (the “2024 quarter”) to $11.0 million for the three months ended March 31, 2025 (the “2025 quarter”), as a result of the factors discussed below.

Rooms Revenue. Rooms revenue decreased $2.5 million to $136.1 million during the 2025 quarter compared to the 2024 quarter primarily due to the sale of the Hilton La Jolla Torrey Pines in July 2024. During the 2025 quarter, our 15 comparable hotel properties experienced an increase of 4.4% in room rates and a 22 basis point decrease in occupancy compared to the 2024 quarter. 

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

Hotel PropertyFavorable (Unfavorable)Rooms RevenueOccupancy (change in bps)ADR(change in %)Comparable Capital Hilton (2)$1,673 (128)21.5 %Marriott Seattle Waterfront122 215 0.2 %The Notary Hotel974 564 11.0 %The Clancy 882 (102)12.8 %Sofitel Chicago Magnificent Mile(239)(468)3.1 %Pier House Resort & Spa(26)(5)0.8 %The Ritz-Carlton St. Thomas(465)(96)(0.4)%Park Hyatt Beaver Creek Resort & Spa643 158 3.9 %Hotel Yountville (1)(392)(1,391)11.3 %The Ritz-Carlton Sarasota (2)(1,611)(215)(7.9)%Bardessono Hotel and Spa (2)237 688 (3.1)%The Ritz-Carlton Lake Tahoe610 (395)14.5 %Cameo Beverly Hills(118)(723)7.5 %The Ritz-Carlton Reserve Dorado Beach1,372 641 (1.2)%Four Seasons Resort Scottsdale173 387