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Braemar Completes $115 Million Sale of The Clancy Hotel in San Francisco – Image Credit Marriott International
Braemar Hotels & Resorts Inc. has completed the sale of The Clancy, a 410-room hotel located in San Francisco. The transaction was closed for $115 million, equating to approximately $280,487 per room. The sale reflects a capitalization rate of 5.2% based on the net operating income for the 12 months ending September 30, 2025.
Following the sale, Braemar Hotels & Resorts has utilized the proceeds to pay down approximately $64.7 million in debt. After accounting for transfer taxes and transaction costs, the company retained around $43.7 million in net proceeds. This transaction is part of Braemar’s strategy to refine its portfolio and enhance its financial position.
Braemar Hotels & Resorts operates as a real estate investment trust, focusing on investments in the hotel and resort sector. The sale of The Clancy is aligned with the company’s broader strategic objectives.
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Braemar Hotels & Resorts Inc.
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The Clancy
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Reconciliation of Hotel Net Income (Loss) to Hotel EBITDA and Hotel Net Operating Income
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(Unaudited, in millions)
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12 Months Ended
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September 30, 2025
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Net income (loss)
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$
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(3.3)
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Interest income
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(0.3)
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Interest expense
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4.8
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Amortization of loan cost
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0.4
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Depreciation and amortization
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6.4
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Hotel EBITDA
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$
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8.0
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Capital reserve
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(2.0)
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Hotel Net Operating Income
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$
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6.0
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