Braemar Hotels & Resorts Inc. has entered into a definitive agreement to sell the 410-room The Clancy, Autograph Collection in San Francisco for $115 million ($280,487 per key) and has received a $3.5 million nonrefundable earnest money deposit. The sale price represents a 5.0% capitalization rate on net operating income for the trailing 12 months ended August 2025.
“We are strategically refining our portfolio with one clear objective: to maximize its value for our shareholders,” said Richard J. Stockton, president/CEO. Braemar Hotels & Resorts. “This divestiture will help us to ensure that a future sale of the company results in the best possible outcome for our investors.”
The transaction is expected to close in November, subject to customary conditions. The buyer has the right to extend the closing for 30 days with an incremental $1 million nonrefundable deposit. Braemar provides no assurances that the sale will be completed on these terms or at all.
