Company: BHR-PD
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0001574085-25-000024
Chunk: 207

Company: Braemar Hotels & Resorts Inc.
Filing Date: 2025-03-12
Form: 10-K
Item: Item 8
Chunk 207
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MENTS OF OPERATIONS

(in thousands, except per share amounts)

Year Ended December 31,202420232022REVENUERooms$452,361 $464,899 $431,515 Food and beverage181,250 185,331 159,241 Other94,793 89,113 78,829 Total hotel revenue728,404 739,343 669,585 EXPENSESHotel operating expenses:Rooms106,465 105,439 94,410 Food and beverage145,901 144,544 125,555 Other expenses225,864 227,913 205,373 Management fees23,500 23,261 20,149 Total hotel operating expenses501,730 501,157 445,487 Property taxes, insurance and other42,508 38,629 30,766 Depreciation and amortization98,733 93,272 78,122 Advisory services fee30,487 31,089 28,847 (Gain) loss on legal settlements— — (114)Corporate general and administrative14,361 13,523 18,084 Total operating expenses687,819 677,670 601,192 Gain (loss) on disposition of assets and hotel property88,165 — — OPERATING INCOME (LOSS)128,750 61,673 68,393 Equity in earnings (loss) of unconsolidated entity(1,608)(253)(328)Interest income7,135 6,401 2,677 Other income (expense)— 293 — Interest expense and amortization of discounts and loan costs(108,124)(94,219)(52,166)Write-off of loan costs and exit fees(6,111)(3,489)(146)Gain (loss) on extinguishment of debt(22)2,318 — Realized and unrealized gain (loss) on derivatives585 (663)4,961 INCOME (LOSS) BEFORE INCOME TAXES20,605 (27,939)23,391 Income tax (expense) benefit(842)(2,689)(4,043)NET INCOME (LOSS)19,763 (30,628)19,348 (Income) loss attributable to noncontrolling interest in consolidated entities(25,928)(1,619)(2,063)