The sale includes the Ritz-Carlton Sarasota in Florida, alongside the Hotel Yountville and the Bardessono Hotel and Spa, both situated in Yountville, California. According to a regulatory filing submitted Wednesday to the Securities and Exchange Commission, the company anticipates the transaction will finalize within 20 to 35 days.

Several indirect subsidiaries of Braemar have entered into definitive agreements with a group of buyers, specifically BRDO Property, YNTV Property, 1776 Sarasota Associates, and 1776 Sarasota Golf Associates. This divestment represents a major shift for the REIT as it offloads these specific luxury assets to the purchasing entities.