Company: BHR-PD
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0001574085-25-000024
Chunk: 217

Company: Braemar Hotels & Resorts Inc.
Filing Date: 2025-03-12
Form: 10-K
Item: Item 8
Chunk 217
---
ash preferred stock dividends3,403 3,614 1,050 Non-cash common stock dividends— — 5 Unsettled proceeds from derivatives113 361 330 Non-cash common stock/unit dividends35 20 — SUPPLEMENTAL DISCLOSURE OF CASH, CASH EQUIVALENTS AND RESTRICTED CASHCash and cash equivalents at beginning of period$85,599 $261,541 $215,998 Restricted cash at beginning of period80,904 54,155 47,376 Cash, cash equivalents and restricted cash at beginning of period$166,503 $315,696 $263,374 Cash and cash equivalents at end of period$135,465 $85,599 $261,541 Restricted cash at end of period49,592 80,904 54,155 Cash, cash equivalents and restricted cash at end of period$185,057 $166,503 $315,696 

See Notes to Consolidated Financial Statements.

114

Table of ContentsBRAEMAR HOTELS & RESORTS INC. AND SUBSIDIARIESNOTES TO CONSOLIDATED FINANCIAL STATEMENTS For the years ended December 31, 2024, 2024 and 2022

1. Organization and Description of Business

Braemar Hotels & Resorts Inc., together with its subsidiaries (“Braemar”), is a Maryland corporation that invests primarily in high revenue per available room (“RevPAR”) luxury hotels and resorts. High RevPAR, for purposes of our investment strategy, means RevPAR of at least twice the then-current U.S. national average RevPAR for all hotels as determined by STR, LLC. Braemar has elected to be taxed as a real estate investment trust (“REIT”) under the Internal Revenue Code of 1986, as amended (the “Code”). Braemar conducts its business and owns substantially all of its assets through its operating partnership, Braemar Hospitality Limited Partnership (“Braemar OP”). Terms such as the “Company,” “we,” “us” or “our” refer to Braemar Hotels & Resorts Inc. and, as the context may require, all entities included in its consolidated financial statements.We are advised by Ashford Hospitality Advisors LLC (“Ashford LLC” or the “Advisor”) through an advisory agreement. Ashford LLC is a subsidiary of Ashford Inc. All of the hotel properties in