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MARKETS / NYSE / BHR
NYSE · REAL ESTATE INVESTMENT TRUSTS · MID CAP

Braemar Hotels & Resorts Inc. BHR

14 fiscal years on record · USD · FY2025 reported · SEC filings only
$704.0M
▼ 3.3% YoY
$-22.3M
In brief

What this company does

It invests primarily in high revenue per available room (“RevPAR”) luxury hotels and resorts. As of March 9, 2026, it owned interests in 13 hotel properties in six states, the District of Columbia, Puerto Rico and St. Thomas, U.S. Virgin Islands, with 3,028 total rooms. It is advised by Ashford Hospitality Advisors LLC, a subsidiary of Ashford Inc., through an advisory agreement. It does not operate its hotel properties directly, instead contractually engaging hotel management companies to operate them under management contracts; Remington Hospitality, a subsidiary of Ashford Inc., manages five of its hotel properties, and third-party management companies manage the rest. It has no employees; the advisory services that would otherwise be provided by employees are instead provided by Ashford LLC. As of December 31, 2025, its indebtedness was approximately $1.1 billion, with a weighted average interest rate of 6.65% per annum.

Written from the business description in Braemar Hotels & Resorts Inc.'s annual report to the U.S. Securities and Exchange Commission, filed 12 March 2026. Every sentence was checked against that document before publication.

Growth
USD 704.0M
Revenue, FY2025 · full 14-year series below
Revenue $M Net income $M
FY2025 · Revenue 704.0 · Net income -22.3
250.0M500.0M-40.0M-80.0M20122014201620182020202220242025
Compound annual growth
+1.7%
+25.4%
+7.3%
+35.7%
+19.5%
+24.4%
+10.6%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +25.4% a year over five years.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability
−4 cents
lost on every revenue dollar
Operating margin Net margin
FY2025 · Operating 10.3% · Net -4.0%
5%10%15%-20%-40%20122014201620182020202220242025
ROE
FY2025 · ROE -11.8%
2%4%6%-10%-20%-30%20122014201620182020202220242025

Each USD of equity lost 12 cents this year.

Cash & shareholders
USD 48.1M
returned in FY2025 · dividends + net buybacks
Free cash flow $M
FY2023 · FCF 84.7
40M80M-100M-200M20122014201620182020202220242025
Net buybacks $M Dividends $M
FY2025 · Dividends 47.3 · Net buybacks 0.8
25.0M50.0M-50.0M-100.0MDividendsNet buybacks20122014201620182020202220242025

USD 47.3M in dividends and USD 778,000.00 in buybacks went back to shareholders in a year without profit.

Total assetsUSD 1.9B
EquityUSD 138.7M
CashUSD 124.4M
Gross debtUSD 1.1B
Net debtUSD 979.1M

Net debt stands at 706% of equity.

The 14-year record
14 fiscal years
Every figure from documents filed with the SEC · USD

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative
Metric 20252024202320222021202020192018201720162015201420132012
Revenue $B0.70.70.70.70.40.20.50.40.40.40.30.30.20.2
Operating income $B0.10.10.10.10.0−0.10.10.10.10.10.00.00.00.0
EBITDA $B0.20.20.20.10.1−0.00.10.10.10.10.10.10.10.1
Income tax $B0.00.00.00.00.0−0.00.00.0−0.00.00.00.00.00.0
Net income $B−0.0−0.0−0.00.0−0.0−0.10.00.00.00.0−0.00.0−0.0−0.0
Free cash flow $B··0.1−0.20.0−0.1········
EPS, diluted $−1.07−0.77−1.13−0.15−0.76−3.39−0.32−0.190.510.55−0.340.07−0.73−0.28
Dividend / sh $0.200.200.200.08··0.640.640.640.460.350.200.050.00
Payout %−212−3045−195117−34−159005229811887−176330−0−0
ROE %−11.8−0.6−7.54.4−7.9−32.60.10.36.76.0−2.20.9−8.1·
Shares out B0.070.070.070.070.070.040.030.030.030.030.030.020.02·

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Provenance
Company facts, as filed
How we verify · 0 failures in 41 reconciliationsAUDITED

Reconciled in 14 of 19 fiscal years. 22 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures
ActivityReal Estate Investment Trusts
Listed onNYSE
Incorporated inMaryland
Fiscal year endsDecember 31
SEC categorysmaller reporting company
Data on record since2012

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