Company: BHR-PD
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0001574085-25-000092
Chunk: 19

Company: Braemar Hotels & Resorts Inc.
Filing Date: 2025-08-11
Form: 10-Q
Item: Part I, Item 1
Chunk 19
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Six Months Ended June 30, 2024Primary Geographical MarketNumber of HotelsRoomsFood and BeverageOther HotelTotalCalifornia5$47,390 $11,851 $7,809 $67,050 Puerto Rico128,926 9,225 5,804 43,955 Arizona122,848 14,150 4,928 41,926 Colorado115,093 7,421 5,463 27,977 Florida236,972 19,293 13,509 69,774 Illinois111,721 3,284 1,070 16,075 Pennsylvania113,138 2,907 617 16,662 Washington113,245 2,144 1,281 16,670 Washington, D.C.122,643 10,985 1,795 35,423 USVI128,676 10,982 5,644 45,302 Sold hotel property114,127 8,868 2,857 25,852 Total16$254,779 $101,110 $50,777 $406,666 

4. Investments in Hotel Properties, net

Investments in hotel properties, net consisted of the following (in thousands):June 30, 2025December 31, 2024Land$643,526 $630,842 Buildings and improvements1,423,269 1,430,096 Furniture, fixtures and equipment172,547 158,470 Construction in progress20,276 20,420 Residences12,746 12,746 Total cost2,272,364 2,252,574 Accumulated depreciation(495,003)(473,888)Investments in hotel properties, net$1,777,361 $1,778,686 

Impairment ChargesDuring the three and six months ended June 30, 2025 and 2024, no impairment charges were recorded.

Land AcquisitionOn April 4, 2025, the Company acquired an eight acre parcel of land with an estimated fair value of $12.6 million. The consideration consisted of cash of approximately $5.5 million and a 25% equity interest in the acquiring entity (“CR JV”) with an estimated fair value of $1.8 million. CR JV also assumed a mortgage loan for the land with an