Braemar Hotels & Resorts Announces The Opening Of The Clancy

DALLAS–Braemar Hotels & Resorts Inc. (NYSE: BHR) (“Braemar” or the “Company”) today announced the opening of The Clancy, located in San Francisco’s vibrant South of Market (SoMa) district.  The former Courtyard San Francisco Downtown underwent a rebranding and renovation in excess of $30 million to create The Clancy.  Ideally situated at 299 Second Street, The Clancy now features 410 guest rooms and over 11,000 square feet of modern meeting space throughout 16 event rooms. It joins Marriott International’s Autograph Collection® Hotels, a diverse portfolio of more than 180 independent hotels around the world that reflect unique vision, design and environments.

“After approximately nineteen months of design and construction on The Clancy, we are delighted to announce its formal grand opening on October 1, 2020,” said Richard J. Stockton, Braemar’s President and Chief Executive Officer. “With its prime location in the heart of SoMa, the conversion of the hotel to an Autograph Collection property fills a desirable niche in the attractive downtown San Francisco market. The hotel is now available for booking as an Autograph property on Marriott.com and all third party booking channels and will be referred to as The Clancy in all future public communications.”

The Company noted that while COVID-19 construction restrictions delayed The Clancy’s reopening by several months and that occupancy levels are expected to be moderately low initially given COVID-19’s negative impact on group and business transient demand, Braemar looks forward to realizing enhanced financial performance from this property over the long-term as a result of the rebranding and renovation.