Braemar agrees to divest The Clancy hotel for $115m

The transaction assigns a per-key value of $280,487 and reflects a 5% capitalisation rate based on the net operating income for the trailing 12 months ending August 2025.

Braemar Hotels & Resorts president and chief executive officer Richard Stockton said: “We are strategically refining our portfolio with one clear objective: to maximise its value for our shareholders.

“This divestiture will help us to ensure that a future sale of the company results in the best possible outcome for our investors.”

As part of the agreement, Braemar has received a $3.5m non-refundable earnest money deposit from the prospective purchaser.

The deal is anticipated to complete in November, pending standard closing conditions.