Company: BHR-PD
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0001574085-25-000024
Chunk: 245

Company: Braemar Hotels & Resorts Inc.
Filing Date: 2025-03-12
Form: 10-K
Item: Item 8
Chunk 245
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599 $85,599 Restricted cash49,592 49,592 80,904 80,904 Accounts receivable, net31,754 31,754 39,199 39,199 Note receivable8,283 8,283 — — Due from third-party hotel managers22,873 22,873 17,739 17,739 Financial liabilities not measured at fair value:Indebtedness$1,222,003 $1,207,420 $1,171,459 $1,124,377 Accounts payable and accrued expenses143,566 143,566 149,867 149,867 Dividends and distributions payable9,255 9,255 9,158 9,158 Due to Ashford Inc. 4,267 4,267 1,471 1,471 Due to related parties, net1,055 1,055 603 603 Due to third-party hotel managers 1,476 1,476 1,608 1,608 Cash, cash equivalents and restricted cash. These financial assets have maturities of less than 90 days and most bear interest at market rates. The carrying value approximates fair value due to their short-term nature. This is considered a Level 1 valuation technique.Accounts receivable, net, due to/from related parties, net, accounts payable and accrued expenses, dividends and distributions payable, due to Ashford Inc and due to/from third-party hotel managers. The carrying values of these financial instruments approximate their fair values due to the short-term nature of these financial instruments. This is considered a Level 1 valuation technique.Investment in securities. See note 10 for a complete description of the methodology and assumptions utilized in determining fair values.Note receivable. The carrying amount of note receivable approximates its fair value. We estimate the fair value of the note receivable to approximate the carrying value of $8.3 million at December 31, 2024. This is considered a Level 2 valuation technique.Derivative assets and derivative liabilities. See notes 9 and 10 for a complete description of the methodology and assumptions utilized in determining fair values.Indebtedness, net. Fair value of indebtedness is determined using future cash flows discounted at current replacement rates for these instruments. Cash flows are determined using a forward interest rate yield curve. The current replacement rates are determined by using the U.S