Daniel Hogan

Jonathan Jenkins

Michael Bellisario

- Braemar Hotels & Resorts Inc. has entered into a definitive agreement to **sell The Clancy**, a 410-room hotel in San Francisco.  **[1574085_20251007NY92479:0]** 
- The sale price for The Clancy is **$115 million**, which represents **$280,487 per key**.  **[1574085_20251007NY92479:0]** 
- The transaction is expected to **close in November 2025**, subject to customary conditions.  **[1574085_20251007NY92479:0]** 
- The sale price reflects a **5.0% capitalization rate** on net operating income for the trailing 12 months ended August 2025.  **[1574085_20251007NY92479:0]** 
- This divestiture is part of the company's strategy to **refine its portfolio** and **maximize shareholder value**.  **[1574085_20251007NY92479:0]**

Braemar Hotels & Resorts Announces Agreement to Sell The Clancy

- **Braemar Hotels & Resorts Inc.** appointed **Babak Ghassemieh** to its Board of Directors on **August 25, 2025**, as part of a cooperation agreement with the Ghassemieh Group.  **[1574085_0001104659-25-082767_tm2524363d1_8k.htm:1]** **[1574085_0001104659-25-082767_tm2524363d1_8k.htm:2]** 
- The Ghassemieh Group, which beneficially owns approximately **7.3%** of the Company's outstanding common stock, agreed to withdraw its previous director nominations.  **[1574085_0001104659-25-082767_tm2524363d1_8k.htm:1]** **[1574085_0001104659-25-082767_tm2524363d1_ex99-1.htm:1]** 
- Under the agreement, Braemar will nominate Mr. Ghassemieh for election at the **2025 and 2026 annual stockholder meetings**.  **[1574085_0001104659-25-082767_tm2524363d1_8k.htm:1]** **[1574085_0001104659-25-082767_tm2524363d1_ex10-1.htm:2]** 
- Mr. Ghassemieh's board service is contingent on the Ghassemieh Group maintaining a **Minimum Ownership Threshold** of at least the lesser of **3%** of outstanding common stock or **2,046,583 shares**.  **[1574085_0001104659-25-082767_tm2524363d1_8k.htm:1]** **[1574085_0001104659-25-082767_tm2524363d1_ex10-1.htm:3]** 
- The Ghassemieh Group also agreed to certain standstill restrictions and voting commitments.  **[1574085_0001104659-25-082767_tm2524363d1_8k.htm:1]**

Braemar Hotels & Resorts (BHR)