Company: BHR-PD
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0001574085-25-000024
Chunk: 13

Company: Braemar Hotels & Resorts Inc.
Filing Date: 2025-03-12
Form: 10-K
Item: Item 1
Chunk 13
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: Approximately 10,000 square feet of meeting space.

•Food and Beverage: The Sofitel Chicago Magnificent Mile includes (i) CDA, an 82 seat French inspired casual restaurant; (ii) Le Bar, a 45 seat modern cocktail lounge; (iii) La Tarrasse, a 40-seat outdoor patio and lounge serving the cuisine of CDA; and (iv) Cigale, a restaurant space featuring an exhibition kitchen and frontage on Wabash Avenue overlooking Connors Park (currently utilized only for event space).

•Other Amenities: The hotel has a fitness center, a business center and valet parking.

Location and Access. The hotel is located one block west of Chicago’s Magnificent Mile on a 0.6 acre parcel in an area of Chicago known as the Gold Coast. The hotel has easy access to the Chicago “L” train and is located approximately 18 miles from O’Hare International Airport and 13 miles from Midway International Airport.

Operating History. The following table shows certain historical information regarding the Sofitel Chicago Magnificent Mile since 2022:

Year Ended December 31,202420232022Rooms415 415 415 Occupancy72.5 %70.3 %65.4 %ADR$253.68 $239.57 $250.78 RevPAR$184.01 $168.42 $163.92 

Selected Financial Information. The following table shows certain selected financial information regarding the Sofitel Chicago Magnificent Mile since 2022 (dollars in thousands):

Year Ended December 31,202420232022Total Revenue$37,568 $33,917 $33,635 Rooms Revenue27,949 25,512 24,829 Hotel net income1,178 3,392 2,226 Hotel net income margin3.1 %10.0 %6.6 %Hotel EBITDA(1)5,742 8,183 8,288 Hotel EBITDA Margin(1)15.3 %24.1 %24.6 %

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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.

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On March 1, 2014, we acquired a fee