Company: BHR-PD
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0001574085-25-000024
Chunk: 267

Company: Braemar Hotels & Resorts Inc.
Filing Date: 2025-03-12
Form: 10-K
Item: Item 8
Chunk 267
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 is delivered based on percentage complete, as reasonably determined by Premier for each service, or payable as set forth in other agreements.Hotel Management ServicesAt December 31, 2024, Remington Hospitality managed four of our 15 hotel properties.We pay monthly hotel management fees equal to the greater of approximately $17,000 per hotel (increased annually based on consumer price index adjustments) or 3% of gross revenues, as well as annual incentive management fees, if certain operational criteria were met, and other general and administrative expense reimbursements primarily related to accounting services. Our hotel management agreement also requires that we fund property-level operating costs including the hotel manager's payroll and related costs.

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BRAEMAR HOTELS & RESORTS INC. AND SUBSIDIARIESNOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)

Summary of TransactionsIn accordance with our advisory agreement, our Advisor, or entities in which our Advisor has an interest, has a right to provide products or services to our hotel properties, provided such transactions are evaluated and approved by our independent directors. The following tables summarize the entities in which our Advisor has an interest with which we or our hotel properties contracted for products and services, the amounts recorded by us for those services and the applicable classification on our consolidated financial statements (in thousands):

Year Ended December 31, 2024CompanyProduct or ServiceTotalInvestments in Hotel Properties, net (1)Indebtedness, net (2)Other AssetsOther Hotel RevenueOther Hotel ExpensesManagement feesProperty Taxes, Insurance and OtherAdvisory Services FeeInterest IncomeCorporate General and AdministrativeWrite-off of Premiums, Loan Costs and Exit FeesAshford LLCInsurance claims services$2 $— $— $— $— $— $2 $— $— $— $— Ashford SecuritiesBroker/Dealer(4,473)— — — — — — — — — (4,473)— INSPIREAudio visual services4,525 — — — 4,415 — — — — — 110 — Lismore CapitalDebt placement and related services2,799 — 1,112 75 — — — — — — — 1,612 OpenKeyMobile key app36 — — — — 36 — — — — — —