Braemar Hotels & Resorts Inc. (BHR) Q3 2025 Earnings Call Transcript
Comparable RevPAR $257, reflecting an increase of 1.4% over the prior year quarter. This marks the fourth consecutive quarter of RevPAR growth, attributed to a return to normalized growth in the resort portfolio.
Comparable Total Hotel Revenue Increased by 3.9% over the prior year period, driven by strong performance in resort properties and group demand.
Comparable Hotel EBITDA $21.4 million, reflecting a 15.1% increase over the prior year quarter, attributed to strong resort performance and operational efficiencies.
Resort Portfolio Comparable RevPAR $361, a 5.5% increase over the prior year period, driven by strong demand and rate growth in luxury resort destinations.
Resort Portfolio Combined Comparable Hotel EBITDA $13.1 million, a 58% increase over the prior year period, attributed to strong group demand and benefits from renovations.
Four Seasons Resort Scottsdale Comparable RevPAR Increased by approximately 25%, attributed to strong demand and operational improvements.
Ritz-Carlton Lake Tahoe Total Revenue Up roughly 32% year-over-year, reflecting strong group demand and benefits from the recently completed renovation.
Ritz-Carlton Reserve Toronto Beach Comparable RevPAR Achieved approximately 20% growth, attributed to strong demand and rate growth.
Urban Hotels Comparable RevPAR Decreased 3.9% during the quarter, reflecting extensive renovations and citywide occupancy declines in Philadelphia.
Portfolio GOP Margin Expanded by 160 basis points compared to the prior year period, driven by operational efficiencies and strong resort performance.
Group Room Revenue Paced 9.1% higher for the full year 2025 compared to the prior year, with a 1.3% increase in the third quarter, driven by strong group demand.
Ritz-Carlton Dorado Beach Comparable RevPAR Increased by 20.4% during the third quarter, reflecting strong demand and sustained rate growth.
Ritz-Carlton Lake Tahoe Group Room Revenue Grew 80.2% compared to the prior year period, driven by increased group demand and renovations.
Ritz-Carlton Lake Tahoe Catering Revenue Increased 80.7% during the third quarter compared to the prior year period, driven by higher group demand and enhanced facilities.
Portfolio-wide Catering Revenue Finished ahead by 31% in the third quarter compared to the prior year period, attributed to higher spend events and enhanced food and beverage offerings.
Ritz-Carlton Sarasota Total Revenue Increased 5.2% compared to the prior year period, driven by a 15.5% increase in other revenue and expanded access to amenities.
Ritz-Carlton Sarasota Other Revenue Increased 15.5% compared to the prior year period, attributed to expanded access to amenities for local and outside guests.
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Braemar Hotels Releases 2025 Tax Reporting for Distributions
- Distribution Announcement: Braemar Hotels & Resorts disclosed tax reporting for 2025 distributions, with common stock dividends at $0.20 per share and preferred shares B, D, E, and M yielding $1.3752, $2.0624, $1.8750, and $2.1354 respectively, indicating the company's ongoing cash flow and commitment to shareholder returns.
- Tax Compliance: The company will issue Form 8937 in accordance with IRS regulations, providing detailed capital return information to ensure shareholders understand the tax implications of dividends, thereby enhancing transparency and building shareholder trust.
- Investor Guidance: Braemar encourages shareholders to consult tax advisors regarding federal, state, and local tax effects, demonstrating the company's commitment to shareholder interests and providing necessary support for informed investment decisions.
- Market Positioning: As a REIT focused on high-growth luxury hotels and resorts, Braemar targets properties generating revenue per available room (RevPAR) at least twice the U.S. national average, showcasing its strong competitive edge in the luxury market.
Braemar Hotels & Resorts Announces 2025 Tax Reporting for Distributions
- Dividend Disclosure: Braemar Hotels & Resorts has announced the tax reporting for its 2025 distributions, with common stock dividends set at $0.20 per share and preferred shares B, D, E, and M at $1.3752, $2.0624, and $2.1354 respectively, reflecting the company's commitment to shareholder returns and stability.
- Record Date for Shareholders: The distributions paid on January 15, 2025, to shareholders of record as of December 31, 2024, indicate the company's ongoing dedication to maintaining shareholder value while providing clear income expectations for future investors.
- Tax Compliance: The company will issue Form 8937 in accordance with IRS regulations, detailing the return of capital information, which ensures shareholders can accurately assess the tax implications of their dividends, thereby enhancing the company's transparency in compliance matters.
- Market Positioning: As a REIT focused on high-growth luxury hotels and resorts, Braemar targets properties that achieve revenue per available room (RevPAR) at least twice the U.S. national average, showcasing its competitive edge and growth potential in the premium market.
