Business
BRAEMAR HOTELS & RESORTS ANNOUNCES SALE OF THE CLANCY
Braemar Hotels & Resorts Inc. (NYSE: BHR) ("Braemar" or the "Company") announced today that it has closed on the previously announced sale of the 410-room The Clancy in San Francisco for $115 million ($280,487 per key). The sale price represents a 5.2% capitalization rate on net operating income for the trailing 12 months ended September 30, 2025.
About this update from Braemar Plc
[{"type":"text","content":"DALLAS, Nov. 7, 2025 /PRNewswire/ -- Braemar Hotels & Resorts Inc. (NYSE: BHR) ("Braemar" or the "Company") announced today that it has closed on the previously announced sale of the 410-room The Clancy in San Francisco for $115 million ($280,487 per key). The sale price represents a 5.2% capitalization rate on net operating income for the trailing 12 months ended September 30, 2025.","length":410,"tagName":"p"},{"type":"text","content":""We are glad to have completed the sale of The Clancy," said Richard Stockton, president and CEO. "This strategic move sharpens our portfolio and strengthens our capital position."","length":210,"tagName":"p"},{"type":"text","content":"In conjunction with the sale, the Company paid down approximately $64.7 million of debt and retained approximately $43.7 million of net proceeds after payment of transfer taxes and transaction costs.","length":199,"tagName":"p"},{"type":"text","content":"Braemar Hotels & Resorts is a real estate investment trust (REIT) focused on investing in luxury hotels and resorts.","length":120,"tagName":"p"},{"type":"table","headerItems":[],"items":[{"val":[{"colspan":"3","rowspan":"1","style":"PADDING-RIGHT:0.17em;PADDING-LEFT:0.17em;VERTICAL-ALIGN:BOTTOM;TEXT-ALIGN:CENTER;","val":[{"type":"text","content":" Braemar Hotels & Resorts Inc. ","length":33,"tagName":"p","attribs":{}}]}]},{"val":[{"colspan":"3","rowspan":"1","style":"PADDING-RIGHT:0.17em;PADDING-LEFT:0.17em;VERTICAL-ALIGN:BOTTOM;TEXT-ALIGN:CENTER;","val":[{"type":"text","content":" The Clancy ","length":10,"tagName":"p","attribs":{}}]}]},{"val":[{"colspan":"3","rowspan":"1","style":"PADDING-RIGHT:0.17em;PADDING-LEFT:0.17em;VERTICAL-ALIGN:BOTTOM;TEXT-ALIGN:CENTER;","val":[{"type":"text","content":" Reconciliation of Hotel Net Income (Loss) to Hotel EBITDA and Hotel Net Operating Income ","length":88,"tagName":"p","attribs":{}}]}]},{"val":[{"colspan":"3","rowspan":"1","style":"PADDING-RIGHT:0.17em;PADDING-LEFT:0.17em;VERTICAL-ALIGN:BOTTOM;TEXT-ALIGN:CENTER;","val":[{"type":"text","content":" (Unaudited, in millions) ","length":24,"tagName":"p","attribs":{}}]}]},{"val":[{"colspan":"1","rowspan":"1","style":"PADDING-RIGHT:0.33em;PADDING-LEFT:0.17em;VERTICAL-ALIGN:BOTTOM;TEXT-ALIGN:RIGHT;","val":[{"type":"text","content":"","length":0,"tagName":"p","attribs...