Item 2. Properties
Item 2. Properties
Offices
We lease our headquarters located at 14185 Dallas Parkway, Suite 1200, Dallas, Texas 75254.
75
Hotel Properties
As of December 31, 2025, we held ownership interests in 13 hotel properties that were included in our consolidated operations, which included direct ownership in 13 hotel properties. Eleven of our hotel properties are located in the United States, one is located in Puerto Rico and one is located in the U.S. Virgin Islands.
The following table presents certain information related to our hotel properties as of December 31, 2025:
Hotel Property Location Total Rooms % Owned Owned Rooms Occupancy ADR RevPAR
Fee Simple Properties
Capital Hilton (1)
Washington, D.C. 559 100 % 559 74.32 % $ 273.86 $ 203.54
The Notary Hotel Philadelphia, PA 499 100 % 499 65.16 % 229.99 149.86
Sofitel Chicago Magnificent Mile Chicago, IL 415 100 % 415 69.83 % 261.73 182.76
Pier House Resort & Spa Key West, FL 142 100 % 142 74.09 % 607.54 450.15
The Ritz-Carlton St. Thomas St. Thomas, USVI 180 100 % 180 60.60 % 1,060.23 642.45
Park Hyatt Beaver Creek Resort & Spa Beaver Creek, CO 193 100 % 193 47.03 % 691.30 325.12
Hotel Yountville Yountville, CA 80 100 % 80 54.34 % 638.09 346.75
The Ritz-Carlton Sarasota Sarasota, FL 276 100 % 276 65.88 % 554.04 365.00
The Ritz-Carlton Lake Tahoe (2)
Truckee, CA 170 100 % 170 54.09 % 758.59 410.31
Cameo Beverly Hills (3)
Los Angeles, CA 143 100 % 143 52.63 % 280.09 147.41
The Ritz-Carlton Reserve Dorado Beach (4)
Dorado, Puerto Rico 96 100 % 96 67.48 % 2,195.81 1,481.67
Four Seasons Resort Scottsdale Scottsdale, AZ 210 100 % 210 60.22 % 867.26 522.22
Ground Lease Property (5)
Bardessono Hotel and Spa (6)
Yountville, CA 65 100 % 65 67.15 % 965.02 648.00
Total 3,028 3,028 67.37 % $ 410.00 $ 276.21
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(1) The hotel was 75% majority owned by Braemar through November 2025.
(2) The above information does not include the operations of the voluntary rental program with respect to condominium units not owned by the Company.
(3) Includes 138 hotel rooms and five residences adjacent to the hotel. On August 1, 2023, the Company announced the rebranding and planned conversion of the hotel to the Cameo Beverly Hills. In December 2025, after an extensive renovation was completed, the hotel joined LXR Hotels & Resorts.
(4) The above information does not include the operations of the voluntary rental program with respect to residential units not owned by the Company.
(5) Some of our hotel properties are on land subject to ground leases, one of which covers the entire property.
(6) The initial ground lease expires in 2065. The ground lease contains two 25-year extension options, at our election.
Text extracted from the filing as submitted to EDGAR. Formatting, tables and exhibits are simplified for reading; the is authoritative for anything you rely on.