Braemar Hotels & Resorts Inc.
For the period ended Dec 31, 2024. Filed Mar 12, 2025.
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FY2024 · Filed Mar 12, 2025
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SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized, on March 12, 2025.
| BRAEMAR HOTELS & RESORTS INC. | |
| By: | /s/ RICHARD J. STOCKTON |
| Richard J. Stockton | |
| President and Chief Executive Officer |
Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, this report has been signed below on behalf of the Registrant in the capacities and on the dates indicated.
| Signature | Title | Date |
|---|---|---|
| /s/ MONTY J. BENNETT | Chairman of the Board of Directors | March 12, 2025 |
| Monty J. Bennett | ||
| /s/ RICHARD J. STOCKTON | President and Chief Executive Officer (Principal Executive Officer) | March 12, 2025 |
| Richard J. Stockton | ||
| /s/ DERIC S. EUBANKS | Chief Financial Officer(Principal Financial Officer) | March 12, 2025 |
| Deric S. Eubanks | ||
| /s/ JUSTIN R. COE | Chief Accounting Officer(Principal Accounting Officer) | March 12, 2025 |
| Justin R. Coe | ||
| /s/ STEFANI D. CARTER | Director | March 12, 2025 |
| Stefani D. Carter | ||
| /s/ MATTHEW D. RINALDI | Director | March 12, 2025 |
| Matthew D. Rinaldi | ||
| /s/ REBECA ODINO-JOHNSON | Director | March 12, 2025 |
| Rebeca Odino-Johnson | ||
| /s/ JAY H. SHAH | Director | March 12, 2025 |
| Jay H. Shah | ||
| /s/ REBECCA MUSSER | Director | March 12, 2025 |
| Rebecca Musser | ||
| /s/ MARY CANDACE EVANS | Director | March 12, 2025 |
| Mary Candace Evans | ||
SCHEDULE III
REAL ESTATE AND ACCUMULATED DEPRECIATION
December 31, 2024
| Column A · Column B · Column C · Column D · Column E · Column F · Column G · Column H · Column I | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Initial Cost · Costs CapitalizedSince Acquisition · Gross Carrying AmountAt Close of Period | |||||||||||||
| Hotel Property | Location | Encumbrances | Land | FF&E,Buildings andimprovements | Land | FF&E,Buildings andimprovements | Land | FF&E,Buildings andimprovements | Total | AccumulatedDepreciation | ConstructionDate | AcquisitionDate | IncomeStatement |
| Capital Hilton | Washington, D.C. | $110,600 | $45,721 | $106,245 | $— | $59,536 | $45,721 | $165,781 | $211,502 | $77,489 | — | April 2007 | (1),(2),(3) |
| Marriott Seattle Waterfront | Seattle, WA | 90,785 | 31,888 | 112,176 | — | 23,177 | 31,888 | 135,353 | 167,241 | 63,180 | — | April 2007 | (1),(2),(3) |
| The Notary Hotel | Philadelphia, PA | 57,018 | 9,814 | 94,029 | — | 20,009 | 9,814 | 114,038 | 123,852 | 56,633 | — | April 2007 | (1),(2),(3) |
| The Clancy | San Francisco, CA | 78,384 | 22,653 | 72,731 | — | 33,790 | 22,653 | 106,521 | 129,174 | 58,121 | — | April 2007 | (1),(2),(3) |
| Sofitel Chicago Magnificent Mile | Chicago, IL | 66,993 | 12,631 | 140,369 | — | 957 | 12,631 | 141,326 | 153,957 | 41,397 | — | February 2014 | (1),(2),(3) |
| Pier House Resort & Spa | Key West, FL | 94,000 | 59,731 | 33,011 | — | (576) | 59,731 | 32,435 | 92,166 | 11,850 | — | March 2014 | (1),(2),(3) |
| Bardessono Hotel and Spa | Yountville, CA | 39,000 | — | 64,184 | — | 3,924 | — | 68,108 | 68,108 | 16,421 | — | July 2015 | (1),(2),(3) |
| Hotel Yountville | Yountville, CA | 37,000 | 47,849 | 48,567 | — | (1,922) | 47,849 | 46,645 | 94,494 | 10,372 | — | May 2017 | (1),(2),(3) |
| Park Hyatt Beaver Creek Resort & Spa | Beaver Creek, CO | 70,500 | 89,117 | 56,383 | 353 | 20,193 | 89,470 | 76,575 | 166,045 | 21,338 | — | March 2017 | (1),(2),(3) |
| The Ritz-Carlton Sarasota | Sarasota, FL | 130,000 | 83,630 | 99,782 | — | 11,670 | 83,630 | 111,452 | 195,082 | 25,415 | — | April 2018 | (1),(2),(3) |
| The Ritz-Carlton St. Thomas | St. Thomas, USVI | 107,000 | 25,533 | 38,467 | — | 67,082 | 25,533 | 105,549 | 131,082 | 20,651 | — | December 2015 | (1),(2),(3) |
| The Ritz-Carlton Lake Tahoe | Truckee, CA | 53,413 | 26,731 | 91,603 | — | 40,725 | 26,731 | 132,328 | 159,059 | 23,772 | — | January 2019 | (1),(2),(3) |
| Cameo Beverly Hills | Beverly Hills, CA | — | 29,346 | 45,078 | — | 4,525 | 29,346 | 49,603 | 78,949 | 7,556 | — | August 2021 | (1),(2),(3) |
| The Ritz-Carlton Reserve Dorado Beach | Dorado, Puerto Rico | 62,000 | 79,711 | 117,510 | — | 8,246 | 79,711 | 125,756 | 205,467 | 18,928 | — | March 2022 | (1),(2),(3) |
| Four Seasons Resort Scottsdale | Scottsdale, AZ | 140,000 | 70,248 | 197,610 | — | 8,538 | 70,248 | 206,148 | 276,396 | 20,765 | — | December 2022 | (1),(2),(3) |
| Total | $1,136,693 | $634,603 | $1,317,745 | $353 | $299,874 | $634,956 | $1,617,618 | $2,252,574 | $473,888 | ||||
(1)Estimated useful life for buildings is 39 years.
(2)Estimated useful life for building improvements is 7.5 years.
(3)Estimated useful life for furniture and fixtures is 1.5 to 5 years.
(4)The cost of land and depreciable property, net of accumulated depreciation, for U.S. federal income tax purposes was approximately $1.7 billion as of December 31, 2024.
| Year Ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Investment in real estate: | |||
| Beginning balance | $2,382,716 | $2,325,093 | $1,845,078 |
| Additions | 57,758 | 92,384 | 516,754 |
| Write-offs | (66,227) | (34,761) | (36,739) |
| Sales/disposals | (121,673) | — | — |
| Ending balance | $2,252,574 | $2,382,716 | $2,325,093 |
| Accumulated depreciation: | |||
| Beginning balance | 498,508 | 440,492 | 399,481 |
| Depreciation expense | 98,286 | 92,777 | 77,750 |
| Write-offs | (66,227) | (34,761) | (36,739) |
| Sales/disposals | (56,679) | — | — |
| Ending balance | $473,888 | $498,508 | $440,492 |
| Investment in real estate, net | $1,778,686 | $1,884,208 | $1,884,601 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.