US-based Braemar Hotels & Resorts has completed the sale of The Clancy, a 410-key hotel in San Francisco’s SoMa district, for $115m.
The transaction value equates to approximately $280,487 per room and reflects a 5.2% capitalisation rate on the net operating income for the 12 months ending 30 September 2025.
Along with the sale, the company reduced its debt by about $64.7m. After covering transfer taxes and transaction expenses, the company kept roughly $43.7m in net proceeds.
Braemar Hotels & Resorts president and CEO Richard Stockton said: “We are glad to have completed the sale of The Clancy. This strategic move sharpens our portfolio and strengthens our capital position.”
The buyer initially provided a $3.5m non-refundable deposit when the agreement was reached in October 2025, with an option to extend the closing by 30 days through an additional $1m non-refundable payment.
The Clancy operates under Marriott’s Autograph Collection brand and features meeting spaces, public areas, a bar, a fitness centre, and the Seven Square Taproom. The hotel accommodates both indoor and outdoor events.
Earlier in August 2025, Braemar completed the sale of the Marriott Seattle Waterfront in Washington for $145m.
That same month, Braemar’s board of directors initiated a formal process to explore a potential sale of the company as part of its consideration of strategic alternatives to enhance shareholder value.
In a statement, Braemar said: “There is no deadline or definitive timetable set for completion of the sale process and there can be no assurance that this process will result in a sale of the company."
Braemar holds nine resort properties and five urban hotels, which operate under brands such as Autograph Collection by Marriott, Ritz Carlton, Hilton, Four Seasons, Park Hyatt, Sofitel, and Ritz-Carlton Reserve.
Earlier in November 2025, the company reported that comparable revenue per available room (RevPAR) for all hotels rose 1.4% from the same quarter last year to $257.
The comparable average daily rate (ADR) increased 4.7% to $401, while comparable occupancy fell 3.2% to 64.3%.
The company posted a net loss attributable to common stockholders of $8.2m, or $0.12 per diluted share for the quarter.
