Braemar Hotel & Resorts Inc. has released its first quarter 2025 earnings update, highlighting a significant increase in both Gross Asset Value and EBITDA since the company's inception in 2013. As of March 31, 2025, the company's equity market capitalization stands at $184.1 million, with an enterprise value of $1.8 billion. The company reports being the highest RevPAR lodging REIT. The report reveals a notable rise in Hotel EBITDA, with luxury hotels driving a 207% increase from $233 million in 2013 to $715 million in the trailing twelve months ending Q1 2025. Additionally, resorts contributed significantly to the EBITDA growth, with a 134% increase from $78 million in 2013 to $183 million in the same period. The total number of hotels owned by Braemar Hotel & Resorts has increased from 8 in 2013 to 15 as of the first quarter of 2025, reflecting the company's strategic expansion in luxury and upper upscale segments. The report also notes that Torrey Pines was sold in the third quarter of 2024. These results underscore the company's focus on expanding its portfolio of iconic and irreplaceable properties, leading to substantial growth in financial performance.