---
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"
generated_at: "2026-05-17T04:26:16.884833+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Braemar Hotels agrees to sell The Clancy in San Francisco for $115 million

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 7.01, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001574085-25-000102
- JSON: https://secwatch.observer/filing/0001574085-25-000102.json
- Plain text: https://secwatch.observer/filing/0001574085-25-000102.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.