Company: BHR-PD
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0001574085-25-000092
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Company: Braemar Hotels & Resorts Inc.
Filing Date: 2025-08-11
Form: 10-Q
Item: Part I, Item 1
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ITEM 1.    FINANCIAL STATEMENTS (unaudited)

BRAEMAR HOTELS & RESORTS INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

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

June 30, 2025December 31, 2024ASSETSInvestments in hotel properties, gross$2,272,364 $2,252,574 Accumulated depreciation(495,003)(473,888)Investments in hotel properties, net1,777,361 1,778,686 Cash and cash equivalents80,226 135,465 Restricted cash55,463 49,592 Investment in securities (amortized cost of $17,279 and $42,279, respectively)17,134 41,535 Accounts receivable, net of allowance of $261 and $459, respectively32,673 31,754 Inventories4,737 4,664 Note receivable8,590 8,283 Prepaid expenses5,504 5,116 Deferred costs, net75 75 Investment in unconsolidated entity145 145 Derivative assets313 356 Operating lease right-of-use assets34,524 34,852 Other assets20,333 19,538 Intangible assets, net2,936 3,125 Due from third-party hotel managers24,232 22,873 Total assets$2,064,246 $2,136,059 LIABILITIES AND EQUITYLiabilities:Indebtedness, net$1,210,878 $1,210,018 Accounts payable and accrued expenses131,142 143,566 Dividends and distributions payable8,627 9,255 Due to Ashford Inc.2,767 4,267 Due to related parties, net636 1,055 Due to third-party hotel managers1,919 1,476 Operating lease liabilities20,000 19,984 Other liabilities26,941 24,268 Total liabilities1,402,910 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 June 30, 2025 and December