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Braemar Hotels & Resorts Inc (BHR) Q2 2025 Earnings Call Highlights: Strong Resort …

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  • Comparable RevPAR: $318, a 1.5% increase over the prior year quarter.

  • Comparable Total Hotel Revenue: Increased by 3.3% over the prior year period.

  • Comparable Hotel EBITDA: $47.8 million, a 3.7% increase over the prior year quarter.

  • Resort Portfolio RevPAR: $464 million, a 1.6% increase over the prior year period.

  • Resort Portfolio EBITDA: $25.7 million, a 6.9% increase over the prior year period.

  • Net Loss Attributable to Stockholders: $1 million or $0.24 per diluted share.

  • AFFO per Diluted Share: $0.09.

  • Total Assets: $2.1 billion at quarter end.

  • Total Loans: $1.2 billion with a blended average interest rate of 7.1%.

  • Cash and Cash Equivalents: $80.2 million plus restricted cash of $55.5 million.

  • Common Stock Dividend: $0.05 per share, equating to an annual yield of approximately 9.1%.

  • Portfolio Composition: 15 hotels with 3,667 net rooms.

  • Group Revenue Pace for 2025: Up 8.6% compared to the prior year.

  • Capital Expenditures for 2025: Expected to total between $75 million and $95 million.

Release Date: August 01, 2025

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

  • Braemar Hotels & Resorts Inc (NYSE: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 (NYSE: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.



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Peru’s Inkaterra hotels offer culture, eco-friendly experiences in a luxe setting.: Travel Weekly


You probably shouldn’t try this at home. There’s no telling how your kitchen will fare — or if you will remain sober.

I refer to the ancient Andean practice of making chicha de jora, or corn beer. The process takes a couple of weeks. The ingredient list is short: yellow corn, flour, herbs, water and a little chicha to kick-start fermentation. 

I collected the recipe this spring during a press trip to Peru hosted by that nation’s Inkaterra hotels.

We were guests at the group’s five-star Hacienda Urubamba, in the Sacred Valley of the Incas, when our dance card included chicha-making. 

Luxury as a backdrop

Chicha-making is one of several activities included in room rates at Inkaterra properties. The group’s five properties offer adventure/nature/ecofocused experiences against the backdrop of luxury accommodations (near-luxury in the Amazon basin), spa services and some very fine food. Our group stayed at two five-star properties, both Virtuoso members. 

The lobby at the Hacienda Urubamba. Photo Credit: Nadine Godwin

• Hacienda Urubamba. This 10-year-old, 40-unit hotel — between Machu Picchu and Cuzco — is 9,776 feet above sea level, providing guests with stunning views of mountains and the Sacred Valley. Several Inca sites are nearby, as are picturesque villages, colorful markets and handicrafts of interest.

The hotel’s architecture mimics a colonial-era hacienda. Design elements — wall hangings, Inca masks, handcrafted woodwork — are inspired by history and local arts. The resulting look is enriched in the dining room and lobby area by floor-to-ceiling windows, reminding visitors again of the area’s beauty.

Hacienda Urubamba’s 100-acre site includes an organic plantation, farmed using traditional hand tools and oxen. It produces New World foods — corn, potatoes and quinoa — ultimately served to guests.

Twenty-eight units are 484-square-foot, stand-alone casitas accessible by foot or a motorized cart operated by staff. Besides terraces with those sweeping views, casitas offer fireplaces, sitting/dining areas, remarkably spacious bathrooms and flat-screen TVs.

Larger than casitas, suites in the main building range from 495 to 958 square feet. For the ultimate in spacious luxury, the hotel combines Suite and Superior rooms to create its Owners Quarters, one at 1,076 square feet accommodating four and another at 2,045 square feet for six.

Even the smallest rooms (258 to 344 square feet) feature sitting/dining areas and terraces. All units receive housekeeping services three times daily and, quaintly, a turndown service with hot water bottle.

The lounge area at the Machu Picchu Pueblo Hotel. Photo Credit: Nadine Godwin

• Machu Picchu Pueblo Hotel. Opened in 1991, this property, at 6,627 feet above sea level, is located in the surprisingly charming little tourist town of Machu Picchu Pueblo.

The hotel layout imitates a village and occupies 12.3 acres of a private preserve in the cloud forest below Machu Picchu Mountain. 

The Inkaterra “village” counts 83 whitewashed casitas plus dining halls, spa and lounges, a tea plantation and the world’s largest collection (372 species) of orchid plants. Tea-making is among activities included in room rates, and the property’s tea is served at Inkaterra hotels. 

All room types include decor featuring local crafts, a dining area, environmentally friendly toiletries, turndown with hot water bottle plus fireplaces in most cases.

Top of the line are two Villas Inkaterra (3,154 square feet), which come with 24-hour private butler service. The Villas Inkaterra as well as the two Suites Inkaterra (1,894 square feet) and five Suites (1,259 square feet) have heated plunge pools and private gardens. 

Chefs emphasize local ingredients, including organic vegetables from the property’s grounds. There are two on-site restaurants, but under the Private Dining program, guests may book private meals in their rooms, in select lobby areas or in the wine cellar. 

Conveniently, the hotel is next to the railroad station. Furthermore, guests can walk to the bus that goes to the Machu Picchu archaeological site. For those not trekking, trains are the only way into town. The trains have weight limits, so Inkaterra holds its guests’ larger bags for a convenient pickup after they leave town. 

A suite in Inkaterra’s 16th century manor house La Casona, a Relais & Chateau property in Cuzco. Photo Credit: Nadine Godwin

Accolades for Inkaterra

The 50-year-old Inkaterra won U.N. recognition in 2021 as the world’s first climate-positive hotel brand.

Nearly two-thirds of Inkaterra business originates in the U.S. Its properties range from the four-star Hacienda Concepcion in the Amazon basin to the protected 16th century manor house La Casona, a Relais & Chateau property in Cuzco. 

La Casona, with 11 suites, is a step back in time, with its classic courtyard, finely carved woodwork and period furnishings. It’s also a door to modern comforts, with a spa, fine dining space, heated floors and smartly outfitted bathrooms. A bonus: It’s a short walk to Cuzco’s main square.

Inkaterra will add a sixth property in Cabo Blanco on the northern coast by early 2026. The inventory also includes two properties operated under a separate brand, named ByInkaterra. 

Aside from buffet breakfasts, meals are a la carte. We sampled local specialties — alpaca, guinea pig and quinoa — but ceviche won our hearts. But not just ours: Unesco in 2023 recognized Peruvian ceviche as part of the world’s intangible cultural heritage.

Average rates, based on double occupancy, at Hacienda Urubamba ($600 per night with breakfast) and Machu Picchu Pueblo Hotel ($500 per night with breakfast and dinner) also include on-property activities, tea time, special promotions at cocktail hour, a welcome drink (purple chicha at Urubamba) and 10% tip.

Inkaterra-organized Machu Picchu visits are $150. Other extras include ceremonies overseen by a shaman, which must be booked ahead, and spa services. 

Agents can book through a local DMC or directly at sales@inkaterra.com



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US Hotel Industry Sees Mixed Performance in Week Ending July, St. Louis Showing Growth Amid Declines

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Sunday, August 3, 2025

The latest data from CoStar, a leading provider of real estate analytics, paints a challenging picture for the US hotel industry for the week ending July 26, 2025. Despite recovery signs in certain markets, the overall year-over-year performance indicates slight declines in key metrics such as occupancy, average daily rate (ADR), and revenue per available room (RevPAR). These results reflect a mix of ongoing challenges in the hospitality sector, as well as regional variations across the country.

The overall trend of negative growth in hotel performance for the week compared to the same period in 2024 highlights the ongoing uncertainty facing the industry. However, the report also sheds light on specific markets, such as St. Louis, which recorded positive movement, contrasting the general trend. This article will delve into the details of the data and explore the implications for both hotel operators and travelers.

US Hotel Industry Performance Overview
For the week ending July 26, 2025, the US hotel industry experienced slight declines in all key performance metrics compared to the same week in 2024. The following are the reported figures for occupancy, ADR, and RevPAR:

  • Occupancy: 71.5% (-0.7%)
  • Average Daily Rate (ADR): $164.88 (-0.1%)
  • Revenue per Available Room (RevPAR): $117.88 (-0.8%)

These figures indicate that while the hotel industry continues to experience a relatively strong level of occupancy, the overall revenue generated per available room remains under pressure. The decline in ADR by 0.1% and RevPAR by 0.8% suggests that hotels are still grappling with pricing pressures, particularly as travelers remain cautious about their spending.

Despite the slight year-over-year declines, the overall occupancy rate remains relatively healthy, indicating that demand for hotel accommodations is still stable, albeit with less momentum than in previous periods. However, challenges persist, especially in markets that are struggling to recover from unique regional disruptions.

St. Louis: A Bright Spot Amid the Decline
While many US markets have seen a decline in key performance metrics, St. Louis stands out as a notable exception. The city reported the highest occupancy increase among the Top 25 Markets for the week, with a 5.7% year-over-year rise in occupancy, bringing the rate to 70.9%. This increase can be attributed to a combination of factors, including targeted marketing campaigns, local events, and the city’s growing appeal as a mid-sized destination for both business and leisure travelers.

St. Louis has been positioning itself as a vibrant hub for tourism, with increased efforts to attract more visitors through cultural and recreational offerings. The strong occupancy growth in the city suggests that these efforts are beginning to pay off, as it bucks the overall downward trend seen across much of the US hotel industry.

The performance of St. Louis highlights the importance of localized factors in the hotel industry. While national trends may show overall stagnation or slight declines, specific markets are capable of outperforming the broader trends due to strategic initiatives, favorable local conditions, and the adaptability of hotel operators.

Houston: A Struggling Market
On the opposite end of the spectrum is Houston, which recorded the steepest declines in all three major performance indicators. The city saw a significant drop in occupancy, down by 19.7% to 61.1%. The ADR also fell by 7.7%, reaching $117.02, while RevPAR saw the sharpest decline, down by 25.9% to $71.54.

These declines are primarily attributed to the elevated displacement demand that followed Hurricane Beryl in 2024. Many hotels in Houston experienced a surge in bookings due to the temporary displacement of residents and business travelers during and after the hurricane. As the region returned to normal, this temporary spike in demand was not sustained, leading to a sharp decrease in performance metrics.

Houston’s struggles serve as a reminder of how external factors, such as natural disasters and regional disruptions, can significantly impact hotel performance. As recovery efforts continue, it is essential for operators in affected regions to manage expectations and plan accordingly to regain stable occupancy levels.

Regional Variations and Market Adaptations
The US hotel industry is highly diverse, and performance trends can vary significantly from one region to another. In addition to the notable performances in St. Louis and Houston, other markets are showing mixed results. Cities with strong business travel demand, such as New York and Los Angeles, are likely to continue to perform relatively well, while more leisure-focused destinations might experience fluctuations depending on seasonal trends and consumer confidence.

The key to navigating this complex landscape will be for hotel operators to adapt their strategies based on local demand drivers. With the recovery from the COVID-19 pandemic continuing to evolve, it is crucial for hotels to remain agile, adjusting pricing, marketing, and service offerings to meet changing consumer needs.

Looking Ahead: A Challenging Road for US Hotels
The US hotel industry faces a mixed outlook as it continues to recover from the disruptions of the past few years. While key markets such as St. Louis show promising growth, other cities like Houston are grappling with the aftermath of regional challenges. The slight year-over-year declines in occupancy, ADR, and RevPAR indicate that the road to full recovery will be slow and uneven, with some regions bouncing back more quickly than others.

For hotel operators, the focus must remain on improving efficiency, maintaining high service standards, and responding swiftly to emerging trends. Additionally, keeping track of local market conditions will be vital for adapting to the demands of travelers in a post-pandemic world. As the industry continues to adjust to changing travel patterns, operators will need to stay ahead of the curve by focusing on delivering value to their guests while managing operational costs.

Conclusion
The latest data from CoStar paints a picture of a hotel industry in transition, facing both challenges and opportunities. While national trends indicate slight declines in key performance metrics, specific markets like St. Louis show that targeted strategies and regional initiatives can yield positive results. Meanwhile, cities like Houston remind us that external factors such as natural disasters can have a long-lasting impact on hotel performance.

As the US hotel industry navigates these challenges, the focus must remain on adaptability, efficiency, and customer satisfaction. The ability to respond to local demands and capitalize on emerging trends will be crucial to maintain profitability and sustaining long-term growth. With the hospitality sector continuing to recover, it is clear that the industry is in a period of flux, but the potential for success remains strong in markets that can adjust and innovate effectively.



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Royal Holdings in tie-up to open 21 luxury hotels in Japan by 2035

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Restaurant operator Royal Holdings Co. is teaming up with Minor Hotels, the largest hotel group in Southeast Asia, to develop luxury hotel accommodation in the Japanese market.

The company plans to open 21 hotels across Japan by 2035, targeting wealthy foreign tourists from the more than 36 million people who visit each year.

Based in Thailand, Minor Hotels operates more than 560 luxury hotels and resort facilities in 57 countries.

It is also a member of the Global Hotel Alliance, the worlds largest alliance of independent hotel brands, serving 30 million members.

It will be Minor Hotels’ first foray into Japan.

Royal Holdings and Minor Hotels established a joint venture earlier this year.

On July 10, they unveiled plans to open Anantara Karuizawa Retreat, a hotel and resort facility, in Karuizawa, Nagano Prefecture, in 2030, partnering with general real estate firm List Group.

Anantara is Minor Hotels’ flagship brand.

Situated on a 42,000-square-meter plot overlooking Mount Asamayama, the facility will have 51 guest rooms, of which 23 are suites, It will also boast a spa, swimming pool and restaurants.

The companies are preparing to apply for confirmation for construction.

Accommodation fees and other details have yet to be determined.

William Heinecke, founder and chairman of Minor International, which operates Minor Hotels under its umbrella, told a news conference in Tokyo that Japan is the first choice of overseas destination for Thai people.

He expressed gratitude that the globally recognized hotel brand of Anantara had been accepted in the Japanese market.

Royal Holdings started in-flight catering services and operating a cafe at Fukuoka Airport in 1951.

The company has operated the Royal Host family restaurant chain as well as the Shakey’s pizza chain since the 1970s. 

In addition, it operates restaurants at airports, expressway facilities and hospitals, and runs Tenya, a restaurant chain specializing in tempura rice bowls.

As for its hotel business, the company opened its first Roynet Hotel (present-day Richmond Hotel) in 1995. It currently manages 43 Richmond Hotels, which target business travelers.

We want to operate hotels aimed at wealthy visitors from abroad in tourism destinations and cities around the country as a way to expand the scope of our business,” said Royal Holdings President Masataka Abe.





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