Braemar hotels & resorts inc. (BHR)
Income statement / Quarterly
Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13
REVENUE
Total revenue

121,701

118,884

118,516

128,513

98,945

108,846

121,118

102,489

-

108,119

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Rooms

-

-

-

-

-

-

-

-

-

-

79,449

67,418

-

73,944

79,583

69,251

62,575

70,584

67,787

54,497

55,011

65,253

62,260

43,971

38,818

47,184

47,050

38,618

Food and beverage

-

-

-

-

-

-

-

-

-

-

27,980

24,473

-

20,106

27,051

24,865

21,526

16,346

21,792

20,230

18,366

15,886

18,421

15,181

13,036

11,014

13,691

13,094

Other

-

-

-

-

-

-

-

-

-

-

8,626

5,365

-

5,568

5,761

5,648

4,023

3,795

3,221

3,022

3,350

3,615

3,243

2,636

3,232

2,762

2,601

2,374

Total hotel revenue

-

-

-

-

-

-

-

-

-

-

116,055

97,256

-

99,618

112,395

99,764

88,124

90,725

92,800

77,749

76,727

84,754

83,924

61,788

55,086

60,960

63,342

54,086

Other

-

-

-

-

-

-

-

-

-

-

37

40

-

33

37

33

36

34

37

40

24

30

43

18

22

0

0

0

Total revenue

-

-

-

-

-

-

-

-

-

-

116,092

97,296

-

99,651

112,432

99,797

88,160

90,759

92,837

77,789

76,751

84,784

83,967

61,806

55,108

60,960

63,342

54,086

EXPENSES
Hotel operating expenses:
Total hotel operating expenses

85,234

79,147

76,728

82,503

67,789

68,816

72,208

63,819

-

74,535

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Rooms

-

-

-

-

-

-

-

-

-

-

17,613

15,797

-

16,926

17,096

15,819

14,446

14,804

14,113

12,978

13,072

14,039

13,571

10,954

9,698

10,330

10,347

9,506

Food and beverage

-

-

-

-

-

-

-

-

-

-

19,263

16,861

-

15,944

18,267

17,445

14,609

12,318

13,539

13,069

11,920

11,118

11,575

9,684

8,371

8,045

8,541

8,737

Other expenses

-

-

-

-

-

-

-

-

-

-

32,021

27,731

-

28,249

30,335

28,339

24,337

25,508

22,973

20,924

20,515

23,079

20,375

16,624

15,180

16,997

15,347

14,255

Management fees

-

-

-

-

-

-

-

-

-

-

4,209

3,545

-

3,820

4,331

3,807

3,485

3,709

3,751

3,104

3,117

3,497

3,393

2,518

2,348

2,679

2,717

2,255

Total hotel expenses

-

-

-

-

-

-

-

-

-

-

73,106

63,934

-

64,939

70,029

65,410

56,877

56,339

54,376

50,075

48,624

51,733

48,914

39,780

35,597

38,051

36,952

34,753

Property taxes, insurance and other

7,629

7,690

5,206

7,460

7,511

6,835

6,077

5,604

5,696

5,197

5,370

5,074

5,862

5,120

4,514

5,043

4,736

4,585

4,601

4,595

4,047

4,076

4,384

3,667

3,048

3,000

2,778

2,927

Depreciation and amortization

18,121

16,831

18,474

16,686

15,092

14,474

14,811

13,006

12,689

14,133

13,469

11,971

11,555

11,175

11,263

11,904

11,440

11,308

10,559

10,517

10,550

10,657

10,706

8,773

7,998

7,767

7,647

7,450

Impairment of Real Estate

0

0

0

0

0

0

59

12

60

1,008

0

0

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Advisory services fee

4,948

5,158

4,397

6,024

4,155

5,733

4,880

5,244

3,312

1,814

3,143

865

2,602

4,454

5,835

2,064

8,113

3,514

3,042

3,220

3,278

3,117

3,945

2,194

1,047

0

0

0

Contract modification cost

-

-

-

-

-

-

-

-

-

0

-5,000

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

Transaction costs

0

0

70

634

0

0

461

488

40

244

2,066

4,328

-44

63

438

0

-

255

0

-

0

45

233

1,593

13,577

0

0

0

Corporate general and administrative

1,802

1,575

932

1,126

1,238

1,765

1,206

28

1,139

1,602

1,531

3,874

-2,128

2,653

9,838

3,923

1,324

1,502

1,185

1,123

789

458

971

1,024

2,272

2,777

2,666

3,779

Costs and Expenses

117,734

110,401

105,807

114,433

95,785

97,623

99,702

88,201

82,957

98,533

103,685

90,046

80,051

88,404

101,917

88,344

82,773

77,503

73,763

69,530

67,288

70,086

69,153

57,031

63,539

51,595

50,043

48,909

Gain (loss) on sale of hotel property

-

-

-

-

-

-

-

-

-

-

-

-

-

26,359

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Gain (loss) on insurance settlement, disposition of assets and sale of hotel properties

-

-1,163

9

-

-

0

15,711

-

-

0

0

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

-

-

Operating Income (Loss)

30,286

7,320

12,718

14,080

3,187

11,223

37,127

14,288

33,396

9,586

12,407

7,250

40,285

11,247

10,515

11,453

5,387

13,256

19,074

8,259

9,463

14,698

14,814

4,775

-8,431

9,365

13,299

5,177

Income (Loss) from Equity Method Investments

-50

-48

-51

-50

-88

-81

-62

-3

0

0

0

0

0

0

63

-2,650

1,292

-3,399

-820

0

-

0

0

-

-

-

-

-

Interest income

189

249

287

362

632

540

230

200

215

198

165

112

35

50

50

32

13

12

5

4

7

10

6

4

4

5

4

10

Other income (expense)

13,577

114

139

117

63

64

63

63

85

22

113

157

77

78

0

10

0

59

-1,153

-139

-

-

-

-

-

-

-

-

Other income

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

Interest Expense, Debt

12,613

13,646

14,055

14,193

13,712

13,084

12,678

10,179

10,194

10,610

9,931

8,202

9,815

9,795

10,637

10,634

9,769

9,348

9,129

9,583

9,872

10,137

10,033

8,989

-

-

-

-

Interest expense and amortization of loan costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

8,380

8,299

7,892

Write off of Deferred Debt Issuance Cost

0

335

0

312

0

0

4,176

2

1,531

380

0

1,963

0

2,595

0

0

0

0

0

54

0

0

0

0

0

0

0

1,971

Unrealized loss on marketable securities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-1,323

1,323

-

0

0

0

-

-

-

-

Unrealized gain (loss) on investment in Ashford Inc.

13,262

-1,471

-4,626

707

-4,672

2,158

-6,024

528

6,314

1,875

-1,563

3,091

-879

-458

860

-1,493

-

-5,621

0

-

-

-

-

-

-

-

-

-

Unrealized loss on investment in Ashford Inc.

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

Unrealized gain (loss) on derivatives

-131

-754

654

-872

721

-578

-298

73

-527

-531

-100

-898

-1,793

-3,912

2,597

3,533

-1,151

-2,061

-8

-32

-48

3

-51

-15

-5

-9

9

-31

INCOME (LOSS) BEFORE INCOME TAXES

17,366

-8,799

-5,212

-395

-13,995

114

14,056

4,842

27,588

116

865

-767

1,397

20,818

3,448

231

-6,216

-7,220

8,952

56

-450

4,574

4,736

-4,225

-16,872

981

5,013

-4,707

Income Tax Expense (Benefit)

271

155

411

927

-82

740

1,202

572

-856

333

479

-478

552

-504

1,156

370

-108

62

-172

481

475

185

211

226

88

952

684

619

Net Income (Loss), Including Portion Attributable to Noncontrolling Interest

17,095

-8,954

-5,623

-1,322

-13,913

-626

12,854

4,270

28,444

-217

386

-289

845

21,322

2,292

-139

-6,108

-7,282

9,124

-425

-

4,389

4,525

-4,451

-

29

4,329

-5,326

(Income) loss attributable to noncontrolling interest in consolidated entities

282

1,899

-248

99

274

1,695

89

-42

528

1,143

1,614

-21

-

2,504

-

-

-

-

-

-

-

-

-

-

-

-

-

-

(Income) loss from consolidated entities attributable to noncontrolling interests

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-80

145

-

1,090

125

-147

1,844

-154

-182

-405

-

-

-

-

Loss from consolidated entities attributable to noncontrolling interests

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-371

500

-704

Net (income) loss attributable to redeemable noncontrolling interests in operating partnership

1,563

-1,465

-865

-440

-1,826

-452

1,235

292

2,996

-360

-343

-255

-95

1,960

184

-150

-1,064

-1,532

2,275

-72

-

-

-

-

-

0

0

0

Net (income) loss attributable to redeemable noncontrolling interests in operating partnership

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-1,171

-1,210

1,168

-

-

-

-

Net Income (Loss) Attributable to Parent

15,250

-9,388

-4,510

-981

-12,361

-1,869

11,530

4,020

24,920

-1,000

-885

-13

404

16,858

2,188

-134

-6,390

-6,840

6,724

-206

-2,052

3,372

3,497

-2,878

-11,389

400

3,829

-4,622

Preferred Stock Dividends, Income Statement Impact

2,545

2,533

2,532

2,532

2,083

1,707

1,708

1,707

1,708

1,707

1,707

1,673

994

994

978

894

893

895

198

0

-

0

0

-

-

-

-

-

NET INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCKHOLDERS

12,705

-11,921

-7,042

-3,513

-14,444

-3,576

9,822

2,313

23,212

-2,707

-2,592

-1,686

-590

15,864

1,210

-1,028

-7,283

-7,735

6,526

-206

-

3,372

3,497

-

-

-

-

-

Earnings Per Share, Basic [Abstract]
Earnings Per Share, Basic

0.38

-0.37

-0.22

-0.11

-0.44

-0.12

0.30

0.07

0.77

-0.09

-0.09

-0.07

-0.04

0.61

0.04

-0.04

-0.31

-0.29

0.27

-0.01

-0.06

0.13

0.14

-0.13

-0.70

0.02

0.24

-0.29

Weighted average common shares outstanding – basic (in shares)

32,387

32,347

32,307

32,115

32,067

32,023

32,006

31,680

31,673

31,483

31,469

27,267

24,779

25,554

27,916

28,343

28,303

27,162

24,017

24,070

24,995

25,298

25,291

22,308

16,045

16,045

16,045

16,045

Earnings Per Share, Diluted [Abstract]
Earnings Per Share, Diluted

0.38

-0.37

-0.22

-0.11

-0.43

-0.12

0.29

0.07

0.76

-0.09

-0.09

-0.07

0.00

0.55

0.04

-0.04

-0.31

-0.29

0.27

-0.01

-0.07

0.13

0.14

-0.13

-0.61

0.02

0.15

-0.29

Weighted Average Number of Shares Outstanding, Diluted

32,387

32,347

32,307

32,115

25,482

32,023

38,588

31,683

48,605

31,483

31,469

27,267

30,145

33,874

32,418

28,343

27,547

27,162

24,773

24,070

42,167

34,429

34,396

22,308

-1,675

24,905

24,905

16,045

Dividends declared per common share (in dollars per share)

-

-

-

-

-

-

-

-

-

0.16

0.16

0.16

0.12

0.12

0.12

0.10

0.10

0.10

0.10

0.05

0.05

0.05

0.05

0.05

0.05

0.00

0.00

0.00

Rooms
Total revenue

75,188

76,808

75,121

76,731

64,471

74,358

78,439

65,507

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Total hotel operating expenses

18,217

18,265

16,833

16,982

14,304

16,624

16,652

14,918

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Food and beverage
Total revenue

30,759

26,422

25,790

32,114

24,607

21,171

25,393

23,500

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Total hotel operating expenses

23,354

20,721

19,394

22,210

17,308

16,171

17,287

15,620

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other
Total revenue

15,754

15,652

17,605

19,663

9,867

13,317

17,286

13,482

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Total revenue

0

2

0

5

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Total hotel operating expenses

39,632

36,201

36,335

38,895

32,610

32,058

33,768

29,664

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Total hotel revenue
Total revenue

121,701

118,882

118,516

128,508

98,945

108,846

121,118

102,489

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Management fees
Total hotel operating expenses

4,031

3,960

4,166

4,416

3,567

3,963

4,501

3,617

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

OpenKey
Income (Loss) from Equity Method Investments

-

-

-51

-

-

-

-62

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-