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Schedule III - Real Estate and Accumulated Depreciation

12 Months Ended

Dec. 31, 2018

SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract]

Schedule III - Real Estate and Accumulated Depreciation

SCHEDULE III

BRAEMAR HOTELS & RESORTS INC. AND SUBSIDIARIES

REAL ESTATE AND ACCUMULATED DEPRECIATION

December 31, 2018

(in thousands)



Column A				Column B				Column C								Column D								Column E												Column F				Column G			Column H		Column I
								Initial Cost								Costs Capitalized Since Acquisition								Gross Carrying Amount At Close of Period
Hotel Property		Location		Encumbrances				Land				FF&E, Buildings and improvements				Land				FF&E, Buildings and improvements				Land				FF&E, Buildings and improvements				Total				Accumulated Depreciation				Construction Date			Acquisition Date		Income Statement
Hilton		Washington D.C.		$	121,677			$	45,721			$	106,245			$	—			$	37,286			$	45,721			$	143,531			$	189,252			$	50,260			—			04/2007		(1),(2),(3)
Hilton		La Jolla, CA		65,409				—				114,614				—				18,441				—				133,055				133,055				48,883				—			04/2007		(1),(2),(3)
Marriott		Seattle, WA		134,700				31,888				112,176				—				6,450				31,888				118,626				150,514				37,071				—			04/2007		(1),(2),(3)
Courtyard by Marriott		Philadelphia, PA		84,600				9,814				94,029				—				23,805				9,814				117,834				127,648				38,001				—			04/2007		(1),(2),(3)
Courtyard by Marriott		San Francisco, CA		116,300				22,653				72,731				—				39,963				22,653				112,694				135,347				31,927				—			04/2007		(1),(2),(3)
Chicago Sofitel Magnificent Mile		Chicago, IL		99,400				12,631				140,369				—				11,943				12,631				152,312				164,943				21,187				—			02/2014		(1),(2),(3)
Pier House Resort		Key West, FL		70,000				59,731				33,011				—				1,709				59,731				34,720				94,451				6,433				—			03/2014		(1),(2),(3)
Bardessono⁽⁴⁾		Yountville, CA		40,000				—				64,184				—				3,036				—				67,220				67,220				8,795				—			07/2015		(1),(2),(3)
Hotel Yountville		Yountville, CA		51,000				47,849				48,567				—				717				47,849				49,284				97,133				4,344				—			05/2017		(1),(2),(3)
Park Hyatt Beaver Creek		Beaver Creek, CO		67,500				89,117				56,383				—				4,010				89,117				60,393				149,510				5,993				—			03/2017		(1),(2),(3)
Ritz-Carlton		Sarasota, FL		100,000				83,630				99,782				—				2,126				83,630				101,908				185,538				6,499				—			04/2018		(1),(2),(3)
Ritz-Carlton		St. Thomas, USVI		42,000				25,533				38,467				—				4,195				25,533				42,662				68,195				3,512				—			12/2015		(1),(2),(3)
Total				$	992,586			$	428,567			$	980,558			$	—			$	153,681			$	428,567			$	1,134,239			$	1,562,806			$	262,905

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⁽¹⁾	Estimated useful life for buildings is 39 years.


⁽²⁾	Estimated useful life for building improvements is 7.5 years.


⁽³⁾	Estimated useful life for furniture and fixtures is 1.5 to 5 years.


⁽⁴⁾	Amount includes transfer of FF&E to Ashford Inc. in return for key money consideration.



	Year Ended December 31,
	2018				2017				2016
Investment in real estate:
Beginning balance	$	1,403,110			$	1,258,412			$	1,315,621
Additions	267,224				287,871				24,280
Write-offs	(22,134		)		(6,935		)		(11,977		)
Impairment	(5,885		)		(25,391		)		—
Sales/disposals	(79,509		)		(110,847		)		(69,512		)
Ending balance	$	1,562,806			$	1,403,110			$	1,258,412
Accumulated depreciation:
Beginning balance	257,268				243,880				224,142
Depreciation expense	56,884				52,135				45,716
Impairment	(3,570		)		—				—
Write-offs	(22,134		)		(6,935		)		(11,977		)
Sales/disposals	(25,543		)		(31,812		)		(14,001		)
Ending balance	$	262,905			$	257,268			$	243,880
Investment in real estate, net	$	1,299,901			$	1,145,842			$	1,014,532