Company: BHR-PD
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0001574085-25-000092
Chunk: 187

Company: Braemar Hotels & Resorts Inc.
Filing Date: 2025-08-11
Form: 10-Q
Item: Part I, Item 8
Chunk 187
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 entities represented an ownership interest of 25% in one hotel property held by one entity and a 25% ownership interest in a JV. At June 30, 2024, noncontrolling interest in consolidated entities represented an ownership interest of 25% in two hotel properties held by one entity.

Net (Income) Loss Attributable to Redeemable Noncontrolling Interests in Operating Partnership. Noncontrolling interests in operating partnership were allocated a net loss of $1.5 million and $1.9 million in the 2025 quarter and the 2024 quarter, respectively. Redeemable noncontrolling interests in Braemar OP represented ownership interests of 8.51% and 8.02% as of June 30, 2025 and 2024, respectively.

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Six Months Ended June 30, 2025 Compared to Six Months Ended June 30, 2024 

The following table summarizes changes in key line items from our condensed consolidated statements of operations for the six months ended June 30, 2025 and 2024 (in thousands except percentages):

Six Months Ended June 30,Favorable (Unfavorable) 20252024$ Change% ChangeRevenueRooms$245,916 $254,779 $(8,863)(3.5)%Food and beverage97,359 101,110 (3,751)(3.7)%Other51,622 50,777 845 1.7 %Total hotel revenue394,897 406,666 (11,769)(2.9)ExpensesHotel operating expenses:Rooms55,504 55,740 236 0.4 Food and beverage75,977 77,381 1,404 1.8 Other expenses116,821 118,231 1,410 1.2 Management fees12,451 13,044 593 4.5 Total hotel operating expenses260,753 264,396 3,643 1.4 Property taxes, insurance and other18,357 20,755 2,398 11.6 Depreciation and amortization46,755 50,114 3,359 6.7 Advisory services fee13,802 14,528 726 5.0 Corporate general and administrative596 2,231 1,635 73.3 Total expenses340,263 352,024 11