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Schedule III - Real Estate and Accumulated Depreciation | 12 Months Ended
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Dec. 31, 2022
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, 2022 (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
Capital Hilton |  | Washington, D.C. |  | $ | 107,000 |  |  | $ | 45,721 |  |  | $ | 106,245 |  |  | $ | — |  |  | $ | 40,495 |  |  | $ | 45,721 |  |  | $ | 146,740 |  |  | $ | 192,461 |  |  | $ | 67,028 |  |  | — |  |  | April 2007 |  | (1),(2),(3)
Hilton La Jolla Torrey Pines |  | La Jolla, CA |  | 88,000 |  |  | — |  |  | 114,614 |  |  | — |  |  | 7,031 |  |  | — |  |  | 121,645 |  |  | 121,645 |  |  | 52,308 |  |  | — |  |  | April 2007 |  | (1),(2),(3)
Marriott Seattle Waterfront |  | Seattle, WA |  | 134,700 |  |  | 31,888 |  |  | 112,176 |  |  | — |  |  | 23,587 |  |  | 31,888 |  |  | 135,763 |  |  | 167,651 |  |  | 49,559 |  |  | — |  |  | April 2007 |  | (1),(2),(3)
The Notary Hotel |  | Philadelphia, PA |  | 84,600 |  |  | 9,814 |  |  | 94,029 |  |  | — |  |  | 34,366 |  |  | 9,814 |  |  | 128,395 |  |  | 138,209 |  |  | 60,453 |  |  | — |  |  | April 2007 |  | (1),(2),(3)
The Clancy |  | San Francisco, CA |  | 116,300 |  |  | 22,653 |  |  | 72,731 |  |  | — |  |  | 53,830 |  |  | 22,653 |  |  | 126,561 |  |  | 149,214 |  |  | 61,516 |  |  | — |  |  | April 2007 |  | (1),(2),(3)
Sofitel Chicago Magnificent Mile |  | Chicago, IL |  | 99,400 |  |  | 12,631 |  |  | 140,369 |  |  | — |  |  | 4,269 |  |  | 12,631 |  |  | 144,638 |  |  | 157,269 |  |  | 36,919 |  |  | — |  |  | February 2014 |  | (1),(2),(3)
Pier House Resort & Spa |  | Key West, FL |  | 80,000 |  |  | 59,731 |  |  | 33,011 |  |  | — |  |  | 3,197 |  |  | 59,731 |  |  | 36,208 |  |  | 95,939 |  |  | 12,578 |  |  | — |  |  | March 2014 |  | (1),(2),(3)
Bardessono Hotel and Spa |  | Yountville, CA |  | 40,000 |  |  | — |  |  | 64,184 |  |  | — |  |  | 1,895 |  |  | — |  |  | 66,079 |  |  | 66,079 |  |  | 14,565 |  |  | — |  |  | July 2015 |  | (1),(2),(3)
Hotel Yountville |  | Yountville, CA |  | 51,000 |  |  | 47,849 |  |  | 48,567 |  |  | — |  |  | (4,577) |  |  | 47,849 |  |  | 43,990 |  |  | 91,839 |  |  | 7,659 |  |  | — |  |  | May 2017 |  | (1),(2),(3)
Park Hyatt Beaver Creek Resort & Spa |  | Beaver Creek, CO |  | 70,500 |  |  | 89,117 |  |  | 56,383 |  |  | — |  |  | 11,206 |  |  | 89,117 |  |  | 67,589 |  |  | 156,706 |  |  | 16,876 |  |  | — |  |  | March 2017 |  | (1),(2),(3)
The Ritz-Carlton Sarasota |  | Sarasota, FL |  | 98,500 |  |  | 83,630 |  |  | 99,782 |  |  | — |  |  | (5,755) |  |  | 83,630 |  |  | 94,027 |  |  | 177,657 |  |  | 15,523 |  |  | — |  |  | April 2018 |  | (1),(2),(3)
The Ritz-Carlton St. Thomas |  | St. Thomas, USVI |  | 42,500 |  |  | 25,533 |  |  | 38,467 |  |  | — |  |  | 80,355 |  |  | 25,533 |  |  | 118,822 |  |  | 144,355 |  |  | 24,863 |  |  | — |  |  | December 2015 |  | (1),(2),(3)
The Ritz-Carlton Lake Tahoe |  | Truckee, CA |  | 54,000 |  |  | 26,731 |  |  | 91,603 |  |  | — |  |  | 5,759 |  |  | 26,731 |  |  | 97,362 |  |  | 124,093 |  |  | 11,316 |  |  | — |  |  | January 2019 |  | (1),(2),(3)
Mr. C Beverly Hills Hotel |  | Beverly Hills, CA |  | 30,000 |  |  | 29,346 |  |  | 45,078 |  |  | — |  |  | 820 |  |  | 29,346 |  |  | 45,898 |  |  | 75,244 |  |  | 3,424 |  |  | — |  |  | August 2021 |  | (1),(2),(3)
The Ritz-Carlton Reserve Dorado Beach |  | Dorado, Puerto Rico |  | 54,000 |  |  | 79,711 |  |  | 117,510 |  |  | — |  |  | 1,270 |  |  | 79,711 |  |  | 118,780 |  |  | 198,491 |  |  | 5,124 |  |  | — |  |  | March 2022 |  | (1),(2),(3)
Four Seasons Resort Scottsdale |  | Scottsdale, AZ |  | 100,000 |  |  | 70,248 |  |  | 197,610 |  |  | — |  |  | 383 |  |  | 70,248 |  |  | 197,993 |  |  | 268,241 |  |  | 781 |  |  | — |  |  | December 2022 |  | (1),(2),(3)
Total |  |  |  | $ | 1,250,500 |  |  | $ | 634,603 |  |  | $ | 1,432,359 |  |  | $ | — |  |  | $ | 258,131 |  |  | $ | 634,603 |  |  | $ | 1,690,490 |  |  | $ | 2,325,093 |  |  | $ | 440,492 |  |  |  |  |  |  |
__________________ (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)The cost of land and depreciable property, net of accumulated depreciation, for U.S. federal income tax purposes was approximately $1.9 billion as of December 31, 2022.
| Year Ended December 31,
| 2022 |  | 2021 |  | 2020
Investment in real estate: |  |  |  |  |
Beginning balance | $ | 1,845,078 |  |  | $ | 1,784,849 |  |  | $ | 1,791,174 |
Additions | 516,754 |  |  | 95,663 |  |  | 16,067 |
Write-offs | (36,739) |  |  | (32,677) |  |  | (22,392) |
Sales/disposals | — |  |  | (2,757) |  |  | — |
Ending balance | $ | 2,325,093 |  |  | $ | 1,845,078 |  |  | $ | 1,784,849 |
Accumulated depreciation: |  |  |  |  |
Beginning balance | 399,481 |  |  | 360,259 |  |  | 309,752 |
Depreciation expense | 77,750 |  |  | 73,054 |  |  | 72,899 |
Write-offs | (36,739) |  |  | (32,677) |  |  | (22,392) |
Sales/disposals | — |  |  | (1,155) |  |  | — |
Ending balance | $ | 440,492 |  |  | $ | 399,481 |  |  | $ | 360,259 |
Investment in real estate, net | $ | 1,884,601 |  |  | $ | 1,445,597 |  |  | $ | 1,424,590 |

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- Definition The entire disclosure of real estate investments and associated accumulated depreciation for entities with a significant portion of their business acquiring and holding investment real estate. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 12 -Subsection 28 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 970 -SubTopic 360 -Section S99 -Paragraph 1 -Subparagraph (SX 210.12-28) -URI https://asc.fasb.org/extlink&oid=120402810&loc=d3e638233-123024 + Details
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