Company: BHR-PD
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0001574085-25-000024
Chunk: 5

Company: Braemar Hotels & Resorts Inc.
Filing Date: 2025-03-12
Form: 10-K
Item: Item 1
Chunk 5
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00 %60.96 %1,016.30 619.52 876 4,436 Hotel YountvilleYountville, CA80100 %59.76 %648.50 387.53 1,875 3,954 Cameo Beverly HillsLos Angeles, CA143100 %66.95 %274.33 183.67 (5,778)(1,485)Total / Weighted Average (5)3,807 67.00 %$465.21 $311.68 $30,070 $179,033 

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(1)    See “Management’s Discussion and Analysis of Financial Condition and Results of Operations—Non-GAAP Financial Measures” for a reconciliation of Hotel EBITDA by property. We own the Capital Hilton in a joint venture. The Hilton La Jolla Torrey Pines, which was also part of the joint venture, was sold on July 17, 2024. The operating results of the Hilton La Jolla Torrey Pines, including $9.1 million of hotel EBITDA, is excluded from the table above. The Hotel EBITDA represents the total amount for each hotel during our period of ownership, not our pro rata amount based on our ownership percentage.

(2)    The above information, excluding Hotel net income and Hotel EBITDA, does not include the operations of the voluntary rental program with respect to condominium units not owned by the Company.

(3)    Subject to a ground lease that initially expires in 2065. The ground lease contains two 25-year extension options, at our election.

(4)    The above information, excluding Hotel net income and Hotel EBITDA, does not include the operations of the voluntary rental program with respect to the residential units not owned by the Company. 

(5)    Calculated on a portfolio basis for the 15 hotel properties in our portfolio as of December 31, 2024.

5

Capital Hilton, Washington, D.C.

We own a 75% partnership interest in Ashford HHC Partners III LP, which has a fee simple interest in the Capital Hilton. CHH Capital Hotel Partners LP, a subsidiary of Ashford HHC Partners III LP, leases the Capital Hilton to CHH Capital Tenant Corp. The remaining 25% partnership interest in Ashford HHC Partners III LP is owned by Park Hotels & Resorts, Inc. The hotel