Company: BHR-PD
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0001574085-25-000024
Chunk: 8

Company: Braemar Hotels & Resorts Inc.
Filing Date: 2025-03-12
Form: 10-K
Item: Item 1
Chunk 8
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 snacks, drinks and sundry items.

•     Other Amenities: The hotel has a fitness center, indoor/outdoor connected pool, business center, guest laundry facilities, valet parking and three electric vehicle charging stations.

Location and Access. The hotel is conveniently located on the Seattle waterfront, just off of the Alaskan Way S. exit from Highway 99 N. The hotel is approximately 13 miles from the Seattle/Tacoma International Airport.

Operating History. The following table shows certain historical information regarding the Marriott Seattle Waterfront since 2022:

Year Ended December 31,202420232022Rooms369 369 361 Occupancy73.0 %70.7 %56.9 %ADR$307.67 $298.39 $286.14 RevPAR$224.48 $210.94 $162.75 

Selected Financial Information. The following tables show certain selected financial information regarding the Marriott Seattle Waterfront since 2022 (dollars in thousands):

Year Ended December 31,202420232022Total Revenue$38,776 $34,629 $26,385 Rooms Revenue30,317 28,410 21,445 Hotel net income6,172 5,471 3,790 Hotel net income margin15.9 %15.8 %14.4 %Hotel EBITDA (1)13,996 12,816 9,217 Hotel EBITDA Margin (1)36.1 %37.0 %34.9 %

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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.

The Clancy, San Francisco, California

Our subsidiary, Ashford San Francisco II LP, owns a fee simple interest in The Clancy. The hotel opened in 2001 and is comprised of 410 guest rooms, including 196 king rooms, 184 queen/queen rooms and 30 suites. Approximately $77.6 million has been spent on capital expenditures since the acquisition of the hotel in 2007, which included a restaurant renovation, a guest room soft goods renovation and a meeting space renovation. In early 2017, the hotel began an extensive custom designed guest room renovation. As part of this renovation we increased the room count from 405 to 410 rooms utilizing former conference