Company: BHR-PD
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0001574085-25-000024
Chunk: 44

Company: Braemar Hotels & Resorts Inc.
Filing Date: 2025-03-12
Form: 10-K
Item: Item 1
Chunk 44
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 Hotel Company, L.L.C., Ritz-Carlton (Virgin Islands), Inc., and Luxury Hotels International of Puerto Rico, Inc.), (3) Four Seasons, (4) Accor, and (5) Hyatt.

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The terms of each of the hotel management agreements, as well as any remaining extension, are set forth in the table below:

HotelEffective Date Expiration DateExtension Options By ManagerCapital Hilton12/17/200312/31/2033Two 10-year optionsMarriott Seattle Waterfront5/23/200312/31/2038Four 10-year optionsThe Clancy10/1/202012/31/2032Four 5-year optionsThe Notary Hotel7/16/201912/31/2041Two 10-year optionsThe Ritz-Carlton Sarasota1/1/201512/31/2030Two 10-year optionsSofitel Chicago Magnificent Mile3/30/200612/31/2030Three 10-year optionsPier House Resort & Spa11/6/201911/06/2029Three 7-year options and one 4-year optionBardessono Hotel and Spa11/6/201911/06/2029Three 7-year options and one 4-year optionThe Ritz-Carlton St. Thomas12/15/201512/31/2065Two 10-year optionsPark Hyatt Beaver Creek Resort & Spa12/11/198712/31/2029One 10-year optionHotel Yountville11/6/201911/06/2029Three 7-year options and one 4-year optionThe Ritz-Carlton Lake Tahoe3/28/200612/31/2034Two 10-year optionsCameo Beverly Hills8/5/202108/05/2031Three 7-year options and one 4-year optionThe Ritz-Carlton Reserve Dorado Beach7/30/200812/31/2042Two 10-year optionsFour Seasons Resort Scottsdale3/29/199612/31/2039Two 20-year options

Each hotel management company receives a base management fee (expressed as a percentage of gross revenues) ranging from 3.0%–5.0%, as well as an incentive management fee calculated as a percentage of hotel operating income, in certain cases after funding of certain requirements, including the capital renewal reserve, and in certain cases after we have received a priority