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

Company: Braemar Hotels & Resorts Inc.
Filing Date: 2025-03-12
Form: 10-K
Item: Item 1
Chunk 25
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 Following an extensive renovation, which is expected to be completed by the end of 2025, the hotel will join LXR Hotels & Resorts.

Additional property highlights include:

•    Meeting Space: The property has over 24,000 sq. ft. of flexible indoor/outdoor meeting space. The 12th floor ballroom features unparalleled 360-degree panoramic views of Beverly Hills.

•    Food and Beverage: The property also features I1 Moderno which offers a menu of classic southern Italian recipes with a California flair.

•    Other Amenities: The property offers an outdoor pool terrace with daybeds and cabanas, state-of-the-art fitness center and a business center. 

Location and Access. With its premier location in the heart of West Los Angeles, the property is in the middle of more than 45 million sq. ft. of office space, supporting substantial corporate demand and a wide array of world-renowned leisure demand generators, including unrivaled shopping with high-end retailers, vibrant restaurants and various art and cultural attractions.

Operating History. The following table shows certain historical information regarding Cameo Beverly Hills since 2022:

Year Ended December 31, 202420232022Rooms143 143 143 Occupancy67.0 %72.8 %74.3 %ADR$274.33 $308.71 $347.57 RevPAR$183.67 $224.69 $258.10 

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Selected Financial Information. The following table shows certain selected financial information regarding Cameo Beverly Hills since 2022 (dollars in thousands):

Year Ended December 31, 202420232022Total Revenue$13,139 $16,113 $19,484 Rooms Revenue9,613 11,727 13,472 Hotel net income (5,778)(4,222)(1,390)Hotel net income margin(44.0)%(26.2)%(7.1)%Hotel EBITDA (1)(1,485)987 3,157 Hotel EBITDA Margin (1)(11.3)%6.1 %16.2 %

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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 Ritz-Carlton Reserve, Dorado, Puerto Rico

On March 11,