Braemar Hotels & Resorts is selling The Clancy, a 410-room hotel in San Francisco, for $115m, with a per-key value of $280,487 and a 5% capitalisation rate. The deal is expected to close in November, pending standard conditions, with the purchaser having an option to extend the closing. Braemar received a $3.5m deposit from the buyer. The hotel, part of the Autograph Collection by Marriott, features a lobby bar, fitness center, and event spaces. Braemar recently sold the Marriott Seattle Waterfront for $145m and is exploring strategic options to maximize value for shareholders, including a potential sale.

Read more at Yahoo Finance: Braemar agrees to divest The Clancy hotel for $115m