Braemar Hotels & Resorts has reached a non-binding agreement to sell The Clancy, Autograph Collection hotel in San Francisco for $115 million. This deal would value each of the 410 rooms at approximately $280,500, making it the highest-priced hotel sale in San Francisco so far this year.
The Dallas-based real estate investment trust is currently seeking buyers for its entire portfolio of 14 luxury hotels. The Clancy, located at 299 Second Street, was previously acquired by Braemar in 2007 for $92.4 million when it operated as the Courtyard San Francisco Downtown SoMa.
According to the San Francisco Business Times, “Braemar is in the midst of a shakeup as the REIT has agreed to ‘immediately’ begin the sale process for the entire company.” The firm’s holdings include other well-known brands such as Ritz-Carlton and Four Seasons.
The Clancy underwent a significant transformation with a three-year renovation and rebranding effort costing $30 million before reopening in 2020 under Marriott’s Autograph Collection. After struggling during the pandemic period, “The Clancy achieved profitability in the first half of 2025 with a net income of $2.5 million and an 11.8 percent margin,” according to reports. In recent months, occupancy at The Clancy reached 74 percent with an average daily rate of $321 and revenue per available room of $239.
In March, Braemar completed refinancing on an interest-only mortgage loan totaling nearly $300 million that was secured by five properties including The Clancy.
Besides this property, Braemar owns three other hotels in Northern California: Bardessono Hotel and Spa (65 rooms) and Hotel Yountville (80 rooms) in Yountville, along with Ritz-Carlton Lake Tahoe (170 rooms) in Truckee.
San Francisco’s lodging market has experienced challenges over the past year due to loan defaults and foreclosures involving major hotels such as Hilton Union Square and Parc 55. Investment activity dropped significantly last year, reaching a record low of $83 million.
