Company: BHR-PD
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001574085-25-000130
Chunk: 30

Company: Braemar Hotels & Resorts Inc.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 1
Chunk 30
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 RESORTS INC. AND SUBSIDIARIESNOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (continued)(unaudited)

The carrying amounts and estimated fair values of financial instruments were as follows (in thousands):September 30, 2025December 31, 2024CarryingValueEstimatedFair ValueCarryingValueEstimatedFair ValueFinancial assets measured at fair value:Investment in securities$17,277 $17,277 $41,535 $41,535 Derivative assets164 164 356 356 Financial assets not measured at fair value:Cash and cash equivalents$116,278 $116,278 $135,465 $135,465 Restricted cash47,682 47,682 49,592 49,592 Accounts receivable, net32,819 32,819 31,754 31,754 Note receivable8,747 8,747 8,283 8,283 Due from third-party hotel managers23,129 23,129 22,873 22,873 Financial liabilities not measured at fair value:Indebtedness$1,177,302 $1,177,753 $1,222,003 $1,207,420 Accounts payable and accrued expenses150,127 150,127 143,566 143,566 Dividends and distributions payable8,553 8,553 9,255 9,255 Due to Ashford Inc., net2,638 2,638 4,267 4,267 Due to related parties, net331 331 1,055 1,055 Due to third-party hotel managers 1,775 1,775 1,476 1,476 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 8 for a