Company: BHR-PD
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001574085-25-000051
Chunk: 77

Company: Braemar Hotels & Resorts Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
Chunk 77
---
ITEM 1.    FINANCIAL STATEMENTS (unaudited)

BRAEMAR HOTELS & RESORTS INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

(unaudited, in thousands, except share and per share amounts)

March 31, 2025December 31, 2024ASSETSInvestments in hotel properties, gross$2,257,665 $2,252,574 Accumulated depreciation(487,720)(473,888)Investments in hotel properties, net1,769,945 1,778,686 Cash and cash equivalents81,689 135,465 Restricted cash54,546 49,592 Investment in securities (amortized cost of $42,279 and $42,279, respectively)42,394 41,535 Accounts receivable, net of allowance of $299 and $459, respectively39,899 31,754 Inventories4,662 4,664 Note receivable8,434 8,283 Prepaid expenses10,034 5,116 Deferred costs, net75 75 Investment in unconsolidated entity145 145 Derivative assets478 356 Operating lease right-of-use assets34,688 34,852 Other assets22,548 19,538 Intangible assets, net3,030 3,125 Due from third-party hotel managers25,462 22,873 Total assets$2,098,029 $2,136,059 LIABILITIES AND EQUITYLiabilities:Indebtedness, net$1,202,668 $1,210,018 Accounts payable and accrued expenses136,090 143,566 Dividends and distributions payable8,692 9,255 Due to Ashford Inc.3,511 4,267 Due to related parties, net1,700 1,055 Due to third-party hotel managers2,389 1,476 Operating lease liabilities19,992 19,984 Other liabilities27,290 24,268 Total liabilities1,402,332 1,413,889 Commitments and contingencies (note 15)5.50% Series B cumulative convertible preferred stock, $0.01 par value, 3,078,017 shares issued and outstanding at March 31, 2025 and