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Braemar Hotels Resorts Inc. (BHR) SEC Filing 10-K Annual Report for the fiscal year ending Friday, December 31, 2021

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  • 10-K Annual Report March 2022
  • 10-K Annual Report March 2021
    10-K Annual Report March 2020
    10-K Annual Report March 2019

Braemar Hotels Resorts Inc.

CIK: 1574085 Ticker: BHR

EXHIBIT 99.1
braemara59a.jpg
NEWS RELEASE

Contact:Deric EubanksJordan JenningsJoseph Calabrese
Chief Financial OfficerInvestor RelationsFinancial Relations Board
(972) 490-9600(972) 778-9487(212) 827-3772


BRAEMAR HOTELS & RESORTS REPORTS
FOURTH QUARTER AND FULL YEAR 2021 RESULTS
Fourth Quarter Comparable RevPAR Increased 163%
Highest Quarterly RevPAR in Company History at $240
Net Loss Attributable to Common Stockholders for the Fourth Quarter was $(4.3) Million
Fourth Quarter Adjusted EBITDAre was $29.4 Million
Fourth Quarter Comparable Hotel EBITDA was $35.5 Million
Fourth Quarter AFFO per Share was $0.23
Announced the Pending Acquisition of Dorado Beach, a Ritz-Carlton Reserve

DALLAS – February 24, 2022 – Braemar Hotels & Resorts Inc. (NYSE: BHR) (“Braemar” or the “Company”) today reported financial results and performance measures for the fourth quarter and full year ended December 31, 2021. The comparable performance measurements for Occupancy, Average Daily Rate (ADR), Revenue Per Available Room (RevPAR), and Hotel EBITDA assume each of the hotel properties in the Company’s hotel portfolio as of December 31, 2021, was owned as of the beginning of each of the periods presented.
Unless otherwise stated, all reported results compare the fourth quarter and year ended December 31, 2021, with the fourth quarter and year ended December 31, 2020 (see discussion below). The reconciliation of non-GAAP financial measures is included in the financial tables accompanying this press release.

FINANCIAL AND OPERATING HIGHLIGHTS
Comparable RevPAR for all hotels increased 163% to $239.62 during the quarter, the highest quarterly RevPAR in the Company’s history. Comparable ADR increased 18.5% to $392.08 and comparable occupancy increased 121.9% to 61.1%. Comparable RevPAR for all hotels increased 6.3% compared to the comparable period in 2019.
Net loss attributable to common stockholders for the quarter was $(4.3) million or $(0.06) per diluted share. For the full year of 2021, net loss attributable to common stockholders was $(40.0) million or $(0.76) per diluted share.
Adjusted funds from operations (AFFO) was $0.23 per diluted share for the quarter compared to $(0.17) in the prior year quarter. For the full year of 2021, AFFO per diluted share was $0.80.
Adjusted EBITDAre was $29.4 million for the quarter, reflecting a growth rate of 15.4% over the fourth quarter of 2019. Adjusted EBITDAre for the full year of 2021 was $87.5 million.
Comparable Hotel EBITDA was $35.5 million for the quarter, reflecting a growth rate of 12.2% over the fourth quarter of 2019. Comparable Hotel EBITDA was $109.2 million for the full year of 2021.



The following information was filed by Braemar Hotels Resorts Inc. (BHR) on Thursday, February 24, 2022 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Braemar Hotels Resorts Inc.'s 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Audit Information
Cover Page
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income (Loss)
Consolidated Statements Of Equity
Consolidated Statements Of Equity (Parenthetical)
Consolidated Statements Of Operations
Commitment And Contingencies (Tables)
Commitments And Contingencies
Commitments And Contingencies - Narrative (Details)
Commitments And Contingencies - Schedule Of Licensing Fees Incurred (Details)
Concentration Of Risk
Concentration Of Risk (Details)
Derivative Instruments
Derivative Instruments (Details)
Derivative Instruments (Tables)
Derivative Instruments - Warrants (Details)
Equity
Equity (Common Stock Dividends) (Details)
Equity (Issuance Activity Under The Seda) (Details)
Equity (Issuance Activity) (Details)
Equity (Narrative) (Details)
Equity (Noncontrolling Interest In Consolidated Entities) (Details)
Equity (Preferred Stock Dividends) (Details)
Equity (Tables)
Fair Value Measurements
Fair Value Measurements (Details)
Fair Value Measurements (Tables)
Fair Value Measurements - Schedule Of Assets And Liabilities Measured At Fair Value On A Recurring Basis (Details)
Income (Loss) Per Share
Income (Loss) Per Share (Antidilutive) (Details)
Income (Loss) Per Share (Reconciliation) (Details)
Income (Loss) Per Share (Tables)
Income Taxes
Income Taxes (Change In Valuation Allowance) (Details)
Income Taxes (Components Of Income Tax Expense) (Details)
Income Taxes (Deferred Tax Assets (Liabilities)) (Details)
Income Taxes (Income Tax Expense Reconciliation) (Details)
Income Taxes (Narrative) (Details)
Income Taxes (Tables)
Indebtedness, Net
Indebtedness, Net (Maturities And Scheduled Amortization Of Indebtedness) (Details)
Indebtedness, Net (Narrative) (Details)
Indebtedness, Net (Schedule Of Indebtedness) (Details)
Indebtedness, Net (Tables)
Intangible Assets, Net
Intangible Assets, Net (Narrative) (Details)
Intangible Assets, Net (Schedule Of Future Amortization Expense) (Details)
Intangible Assets, Net (Schedule Of Intangible Assets) (Details)
Intangible Assets, Net (Tables)
Investment In Unconsolidated Entity
Investment In Unconsolidated Entity (Details)
Investment In Unconsolidated Entity (Tables)
Investments In Hotel Properties, Net
Investments In Hotel Properties, Net (Details)
Investments In Hotel Properties, Net (Tables)
Investments In Hotel Properties, Net - Mr. C Beverly Hills Hotel (Details)
Investments In Hotel Properties, Net - Schedule Of Preliminary Estimated Fair Value Of The Assets Acquired And Liabilities Assumed In The Acquisition (Details)
Investments In Hotel Properties, Net - Schedule Of Pro Forma Financial Results (Details)
Investments In Hotel Properties, Net - Schedule Of Pro Forma Information Since Acquisition Date (Details)
Leases
Leases (Lease Balances) (Details)
Leases (Lease Cost And Other Information) (Details)
Leases (Maturities Of Operating Lease Liabilities) (Details)
Leases (Narrative) (Details)
Leases (Tables)
Organization And Description Of Business
Organization And Description Of Business (Details)
Preferred Stock
Preferred Stock (Details)
Preferred Stock (Tables)
Redeemable Noncontrolling Interest In Operating Partnership (Narrative) (Details)
Redeemable Noncontrolling Interests In Operating Partnership
Redeemable Noncontrolling Interests In Operating Partnership (Activity Of Units In Operating Partnership) (Details)
Redeemable Noncontrolling Interests In Operating Partnership (Allocated Redeemable Noncontrolling Interests) - (Details)
Redeemable Noncontrolling Interests In Operating Partnership (Compensation Expense) (Details)
Redeemable Noncontrolling Interests In Operating Partnership (Redeemable Noncontrolling Interests) (Details)
Redeemable Noncontrolling Interests In Operating Partnership (Tables)
Redeemable Noncontrolling Interests In Operating Partnership (Units Redeemed) (Details)
Related Party Transactions
Related Party Transactions (Narrative) (Details)
Related Party Transactions (Schedule Of Advisory Services Fee) (Details)
Related Party Transactions (Schedule Of Hotel And Project Management Agreements) (Details)
Related Party Transactions (Schedule Of Reimbursed Operating Expenses) (Details)
Related Party Transactions (Summary Of Entities With Advisor Interest) (Details)
Related Party Transactions (Tables)
Revenue
Revenue (Details)
Revenue (Tables)
Schedule Iii - Real Estate And Accumulated Depreciation
Schedule Iii - Real Estate And Accumulated Depreciation (Details)
Schedule Iii - Real Estate And Accumulated Depreciation (Roll Forward) (Details)
Segment Reporting
Segment Reporting (Details)
Significant Accounting Policies
Significant Accounting Policies (Details)
Significant Accounting Policies (Policies)
Stock-Based Compensation
Stock-Based Compensation (Narrative) (Details)
Stock-Based Compensation (Summary Of Compensation Expense) (Details)
Stock-Based Compensation (Summary Of Unit Activity) (Details)
Stock-Based Compensation (Tables)
Subsequent Event
Subsequent Event (Details)
Summary Of Fair Value Of Financial Instruments
Summary Of Fair Value Of Financial Instruments (Carrying Amounts And Estimated Fair Values Of Financial Instruments) (Details)
Summary Of Fair Value Of Financial Instruments (Narrative) (Details)
Summary Of Fair Value Of Financial Instruments (Tables)
Ticker: BHR
CIK: 1574085
Form Type: 10-K Annual Report
Accession Number: 0001574085-22-000032
Submitted to the SEC: Thu Mar 10 2022 4:19:35 PM EST
Accepted by the SEC: Thu Mar 10 2022
Period: Friday, December 31, 2021
Industry: Real Estate Investment Trusts

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