Filing Flows › Braemar Hotels & Resorts (BHR) › Q2 2025
Braemar Hotels & Resorts (BHR) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 11, 2025
Braemar Hotels & Resorts (BHR) reported revenue of $179M for the second quarter 2025 (Q2 2025), -5% from a year earlier and -17% from the quarter before. Operating margin was 10.0%, net loss $6.8M (3.8% of revenue).
Braemar Hotels & Resorts, Q2 2025: revenue $179M (-4% year over year), operating margin 10.0%, net loss $6.8M, operating cash flow $23.0M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $179M | -17% | -5% |
| Operating profit | $17.9M | -51% | — |
| Net earnings | −$6.8M | -162% | — |
| Operating cash flow | $23.0M | +52% | -4% |
| Free cash flow | $5.3M | — | -35% |
What changed
Revenue was $179.1M in Q2 2025, down 5% year over year and down 17% from the previous quarter. Rooms was the largest line at 61% of revenue. Rooms lost $6.4M year over year (down 6%), 75% of the total change.
Operating profit was $17.9M, a 10.0% margin (up 3.5 points year over year). Total costs fell 8% while revenue fell 5%. The quarter ended with a net loss of $6.8M, after a profit of $10.7M the previous quarter. Minority interests bore $1.4M of it: to shareholders the quarter was a loss of $5.5M. Net interest and other expense of $25.1M was the main reason.
Operating cash flow was $23.0M (down 4% year over year). Non-cash charges added back $23.4M of depreciation and amortization. Working capital and other items added $6.5M. Capital expenditures of $17.7M left free cash flow of $5.3M.
Questions
What was Braemar Hotels & Resorts' revenue in the second quarter 2025?
Braemar Hotels & Resorts (BHR) reported revenue of $179M for the second quarter 2025 (Q2 2025), -5% from a year earlier and -17% from the quarter before.
Was Braemar Hotels & Resorts profitable in the second quarter 2025?
Operating profit was $17.9M (10.0% of revenue) and net loss $6.8M.