Schedule III - Real Estate and Accumulated Depreciation

12 Months Ended

Dec. 31, 2023

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, 2023

(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.	$	110,600	$	45,721	$	106,245	$	—	$	63,801	$	45,721	$	170,046	$	215,767	$	71,927	—	April 2007	(1),(2),(3)
Hilton La Jolla Torrey Pines	La Jolla, CA	66,600		—		114,614		—		7,644		—		122,258		122,258		55,311		—	April 2007	(1),(2),(3)
Marriott Seattle Waterfront	Seattle, WA	90,785		31,888		112,176		—		23,821		31,888		135,997		167,885		56,631		—	April 2007	(1),(2),(3)
The Notary Hotel	Philadelphia, PA	57,018		9,814		94,029		—		28,279		9,814		122,308		132,122		60,066		—	April 2007	(1),(2),(3)
The Clancy	San Francisco, CA	78,384		22,653		72,731		—		47,354		22,653		120,085		142,738		63,991		—	April 2007	(1),(2),(3)
Sofitel Chicago Magnificent Mile	Chicago, IL	66,993		12,631		140,369		—		1,528		12,631		141,897		154,528		38,250		—	February 2014	(1),(2),(3)
Pier House Resort & Spa	Key West, FL	80,000		59,731		33,011		—		1,272		59,731		34,283		94,014		12,208		—	March 2014	(1),(2),(3)
Bardessono Hotel and Spa	Yountville, CA	39,279		—		64,184		—		2,072		—		66,256		66,256		14,882		—	July 2015	(1),(2),(3)
Hotel Yountville	Yountville, CA	43,687		47,849		48,567		—		(4,088)		47,849		44,479		92,328		9,039		—	May 2017	(1),(2),(3)
Park Hyatt Beaver Creek Resort & Spa	Beaver Creek, CO	70,500		89,117		56,383		353		14,243		89,470		70,626		160,096		19,130		—	March 2017	(1),(2),(3)
The Ritz-Carlton Sarasota	Sarasota, FL	117,034		83,630		99,782		—		5,730		83,630		105,512		189,142		20,400		—	April 2018	(1),(2),(3)
The Ritz-Carlton St. Thomas	St. Thomas, USVI	42,500		25,533		38,467		—		83,282		25,533		121,749		147,282		33,058		—	December 2015	(1),(2),(3)
The Ritz-Carlton Lake Tahoe	Truckee, CA	53,413		26,731		91,603		—		30,692		26,731		122,295		149,026		16,559		—	January 2019	(1),(2),(3)
Cameo Beverly Hills	Beverly Hills, CA	30,000		29,346		45,078		—		1,688		29,346		46,766		76,112		4,916		—	August 2021	(1),(2),(3)
The Ritz-Carlton Reserve Dorado Beach	Dorado, Puerto Rico	—		79,711		117,510		—		3,798		79,711		121,308		201,019		11,734		—	March 2022	(1),(2),(3)
Four Seasons Resort Scottsdale	Scottsdale, AZ	140,000		70,248		197,610		—		4,285		70,248		201,895		272,143		10,406		—	December 2022	(1),(2),(3)
Total		$	1,086,793	$	634,603	$	1,432,359	$	353	$	315,401	$	634,956	$	1,747,760	$	2,382,716	$	498,508

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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)The cost of land and depreciable property, net of accumulated depreciation, for U.S. federal income tax purposes was approximately $1.8 billion as of December 31, 2023.


	Year Ended December 31,
	2023		2022		2021
Investment in real estate:
Beginning balance	$	2,325,093	$	1,845,078	$	1,784,849
Additions	92,384		516,754		95,663
Write-offs	(34,761)		(36,739)		(32,677)

Sales/disposals	—		—		(2,757)
Ending balance	$	2,382,716	$	2,325,093	$	1,845,078
Accumulated depreciation:
Beginning balance	440,492		399,481		360,259
Depreciation expense	92,777		77,750		73,054

Write-offs	(34,761)		(36,739)		(32,677)
Sales/disposals	—		—		(1,155)
Ending balance	$	498,508	$	440,492	$	399,481
Investment in real estate, net	$	1,884,208	$	1,884,601	$	1,445,597