Company: BHR-PD
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001574085-25-000051
Chunk: 120

Company: Braemar Hotels & Resorts Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
Chunk 120
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 maintenance7,772 7,662 Energy5,859 5,965 Lease expense554 1,173 Ownership expenses982 1,176 Incentive management fee4,229 3,850 Management fees6,737 6,866 Property taxes5,951 5,710 Other taxes468 513 Insurance3,993 4,403 Total expenses145,079 148,100 Hotel adjusted EBITDA$70,741 $70,979 Three Months Ended March 31,20252024Hotel adjusted EBITDA$70,741 $70,979 Ownership expenses included in other hotel expenses(875)1,551 Ownership expenses included in property taxes, insurance and other(53)(59)Management fees(173)(110)Depreciation and amortization(23,395)(25,420)Advisory services fee(6,611)(6,700)Corporate, general and administrative(2,894)2,226 Equity in earnings (loss) of unconsolidated entities— (49)Interest income1,888 796 Interest expense and amortization of discounts and loan costs(24,827)(26,491)Write-off of loan costs and exit fees(1,464)(721)Realized and unrealized gain (loss) on derivatives(198)932 Income tax (expense) benefit(1,467)(1,452)Net income (loss)$10,672 $15,482 

28

ITEM 2.MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

This Quarterly Report on Form 10-Q (this “Form 10-Q”) contains registered trademarks that are the exclusive property of their respective owners, which are companies other than us, including Marriott International®, Hilton Worldwide®, Sofitel®, Hyatt® and Accor®.

FORWARD-LOOKING STATEMENTS

Throughout this Form 10-Q, we make forward-looking statements that are subject to risks and uncertainties. Forward-looking statements are generally identifiable by use of forward-looking terminology such as “may,” “will,” “should,” “potential,” “intend,” “expect,” “anticipate,” “estimate,” “approximately,” “believe,” “could,” “project,” “predict,” or other similar words or expressions. Additionally, statements regarding the following subjects are forward-looking by their nature:

•our business and investment strategy;

•