Company: BHR-PD
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0001574085-25-000092
Chunk: 205

Company: Braemar Hotels & Resorts Inc.
Filing Date: 2025-08-11
Form: 10-Q
Item: Part I, Item 8
Chunk 205
---
) (unaudited):

Three Months Ended June 30,Six Months Ended June 30,2025202420252024Net income (loss)$(6,841)$(13,787)$3,831 $1,695 Interest expense and amortization of loan costs 25,361 27,285 50,188 53,776 Depreciation and amortization 23,360 24,694 46,755 50,114 Income tax expense (benefit) (345)(114)1,122 1,338 Equity in (earnings) loss of unconsolidated entity— 85 — 134 Company’s portion of EBITDA of OpenKey— (82)— (139)EBITDA and EBITDAre41,535 38,081 101,896 106,918 Amortization of favorable (unfavorable) contract assets (liabilities)107 118 214 237 Transaction and conversion costs (1)471 53 1,166 (5,574)Write-off of premiums, loan costs and exit fees3 82 1,467 803 Realized and unrealized (gain) loss on derivatives(15)(326)183 (1,258)Stock/unit-based compensation(47)1,135 (95)2,262 Legal, advisory and settlement costs (2)(4,626)2,870 (4,482)4,817 Advisory services incentive fee188 648 270 648 (Gain) loss on extinguishment of debt— 22 — 22 Other (income) expense1,250 — 1,250 — Company’s portion of adjustments to EBITDAre of OpenKey— 3 — 3 Adjusted EBITDAre$38,866 $42,686 $101,869 $108,878 

__________________

(1) Includes amounts associated with funding certain expenses of Ashford Securities LLC, which in 2024 included a true up of these expenses based on capital raised. 

(2) Includes amounts related to a $5.0 million expense reduction in 2025 from an insurance recovery for prior legal expenses. 

49

FFO is calculated on the basis defined by NAREIT, which is net income (loss) attributable to common stockholders, computed in accordance with GAAP, excluding gains or