{"schema_version":"secwatch.filing_event.v1","accession":"0001574085-25-000102","form_type":"8-K","ticker":"BHR","cik":"0001574085","company_name":"Braemar Hotels & Resorts Inc.","filed_at":"2025-10-07T23:59:59+00:00","discovered_at":"2026-05-14T18:02:39.795590+00:00","generated_at":"2026-05-17T04:26:16.884833+00:00","sec_items":["1.01","7.01","9.01"],"event_type":"m_and_a","sentiment":"neutral","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"Braemar Hotels agrees to sell The Clancy in San Francisco for $115 million","bullets":["Sale price of $115M cash ($280,487 per key) for the 410-room hotel.","Price represents a 5.0% cap rate on trailing 12-month NOI of $5.7M (Aug 2025).","Buyer paid a $3.5M non-refundable deposit; closing expected Nov 2025 with 30-day extension option.","Hotel EBITDA of $7.7M vs. net loss of $4.2M for the trailing 12 months.","CEO states divestiture is part of portfolio refinement to maximize shareholder value."],"urls":{"canonical":"https://secwatch.observer/filing/0001574085-25-000102","json":"https://secwatch.observer/filing/0001574085-25-000102.json","markdown":"https://secwatch.observer/filing/0001574085-25-000102.md","text":"https://secwatch.observer/filing/0001574085-25-000102.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1574085/000157408525000102/0001574085-25-000102-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1574085/000157408525000102/bhr-20251006.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-17T04:26:16.884833+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}