Company: BHR-PD
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0001574085-25-000024
Chunk: 16

Company: Braemar Hotels & Resorts Inc.
Filing Date: 2025-03-12
Form: 10-K
Item: Item 1
Chunk 16
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 numerous retail and restaurant establishments including the famed French Laundry. Yountville is in the heart of the Napa Valley, a premier wine and culinary destination with over 450 wineries. In addition to the valley’s traditional wine and dining attractions, the region is also known as a popular leisure destination for hiking, biking, golfing, shopping and festivals.

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Operating History. The following table shows certain historical information regarding the Bardessono Hotel and Spa since 2022:

Year Ended December 31,202420232022Rooms65 65 65 Occupancy61.0 %66.2 %64.0 %ADR$1,016.30 $1,045.70 $1,257.56 RevPAR$619.52 $692.48 $804.31 

Selected Financial Information. The following table shows certain selected financial information regarding the Bardessono Hotel and Spa since 2022 (dollars in thousands):

Year Ended December 31, 202420232022Total Revenue$20,140 $22,159 $25,259 Rooms Revenue14,738 16,429 19,082 Hotel net income876 1,428 4,488 Hotel net income margin4.3 %6.4 %17.8 %Hotel EBITDA (1)4,436 6,067 9,127 Hotel EBITDA Margin (1)22.0 %27.4 %36.1 %

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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 net income (loss) to Hotel EBITDA by property.

The Ritz-Carlton, St. Thomas, U.S. Virgin Islands

On December 15, 2015, we acquired a 100% interest in The Ritz-Carlton St. Thomas on the island of St. Thomas, U.S. Virgin Islands. The Ritz-Carlton St. Thomas opened in 1996 and has 155 luxurious guest rooms and 25 suites, all featuring a spacious private balcony with ocean or resort views. Approximately $123.7 million has been spent on capital expenditures since the acquisition of the hotel in December 2015. Capital investment was primarily focused on remediation and reconstruction effort due to damage sustained after Hurricane Irma. 

Additional property highlights include:

•    Meeting Space: The