Q2 2025 Braemar Hotels & Resorts Inc Earnings Call Transcript
Key Points
- Braemar Hotels & Resorts Inc (BHR) achieved a 1.5% growth in comparable RevPAR and a 3.7% increase in total comparable growth, indicating strong performance in both urban and resort hotel segments.
- The company successfully addressed its final 2025 debt maturity and agreed to sell the Marriott Seattle Waterfront, enhancing its liquidity position.
- The resort portfolio reported a 1.6% increase in comparable RevPAR and a 6.9% increase in comparable hotel EBITDA, with standout performances from Ritz-Carlton Lake Tahoe and Ritz-Carlton Reserve Dorado Beach.
- Group revenue pace for 2025 is up 8.6%, with continued growth expected in 2026, reflecting strong booking trends.
- The transition of Sofitel Chicago Magnificent Mile to a franchise model is already yielding positive results, with increased total hotel revenue and food and beverage revenue.
- Braemar Hotels & Resorts Inc (BHR) reported a net loss attributed to stockholders of $1 million or $0.24 per diluted share for the quarter.
- Approximately 78% of the company's debt is effectively floating, which could pose a risk if interest rates rise.
- The company experienced temporary headwinds from renovations at two properties, which muted results to some extent.
- Government segment softness impacted the Capitol Hilton in Washington, D.C., affecting overall performance.
- Despite strong group and leisure performance, the company faced challenges with Easter timing and renovation disruptions.
Hello and thank you for standing by. My name is Regina, and I will be your conference operator today. At this time, I would like to welcome everyone to the Braemar Hotels and Resorts Inc. second quarter 2025 results conference call. All lines have been placed on you to prevent any background noise after the speakers. Marks, there will be a question and answer session. If you would like to ask a question during this time, simply press, then the number one on your telephone keypad. To withdraw your question, press one again. I would now like to turn the conference over to Deric Eubanks, Chief Financial Officer. Please go ahead.
Good morning and welcome to today's call to review results for Braemar Hotels and Resorts for the second quarter of 2025 and to update you on recent developments. On the call today will also be Richard Stockton, President and Chief Executive Officer and Chris Nixon, executive Vice President and head of asset management. The results, as well as notice of the
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