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Harborby Signalry

Eastdil Secured · Practice desk

Eastdil Secured — trophy / lodging

Investment banking

Large-cap real estate investment bank. Hotel work is typically trophy or portfolio, named in the financial press when it is public.

Public source · Firm page · Hire process

Graph events
18
Cited prices
14
Unknown on purpose
4

Deal timeline · 18 graph events

What the public record allows

Harbor attaches a desk when a press release or public pattern names the firm — not an unpublished book. Missing prices stay missing. Linked houses open a labeled estimate.

News / press releaseHost soldFeb 18, 2026

Four Seasons Orlando + Four Seasons Jackson Hole — Host disposition

Other U.S. markets · 569 keys · Luxury

Consideration

$1.10B

$1.9M / key

Host IR: $1.1 billion for the 444-room Four Seasons Orlando and 125-room Four Seasons Jackson Hole. Portfolio tape. Harbor does not split the two houses. Excludes the Orlando condo development.

Host Hotels & Resorts IR, February 18, 2026

Host sold both resorts for $1.1 billion. Combined 569 keys. Host’s IRR table names the prior $610 million / $315 million purchases and $1.1 billion of sale proceeds — it does not allocate the exit. Trade-press $750 million / $315 million sale splits are not Host’s number; Harbor will not repeat them as fact. Host did not name the buyer; Orange County deed and trade press name BDT & MSD affiliates. Do not use the blended $1.93M/key as a single-house Orlando or Jackson Hole comp.

Open the tape →Other U.S. marketsCompare

Public filingHost boughtJul 31, 2024

Turtle Bay / Ritz-Carlton Oʻahu — Host Hotels acquisition

The Ritz-Carlton Oʻahu, Turtle Bay · 450 keys · Luxury

Consideration

$680.0M

$1.5M / key

Host 2024 10-K: $680 million for the 450-room Turtle Bay Resort plus a 49-acre entitled land parcel, net of Marriott key money. Not a rooms-only PPK.

Host Hotels & Resorts Form 10-K for the year ended Dec 31, 2024

Closed July 2024. $680 million is net of $45 million Marriott key money for the Ritz-Carlton conversion. Host’s May 2024 agreement also expected a $630 / $50 million hotel-versus-land allocation, subject to final appraisal — Harbor records the $680 million combined figure, not an invented rooms-only deed. North Shore Oahu resort, not a Waikiki box.

Open the tape →FramePacketEstimateHonolulu / WaikikiCompare

News / press releaseMay 8, 2024

Arizona Biltmore — Blackstone to Henderson Park

Arizona Biltmore · 705 keys · Luxury

Consideration

$705.0M

$1.0M / key

Consideration as reported in trade press and CoStar’s May 2024 deed/affidavit read. Confirm the Maricopa affidavit. Not an HVS survey number.

The Real Deal / CoStar, Jan–May 2024 (announced Jan 23; deed read May 8)

Henderson Park and Pyramid Global Hospitality acquired the 705-key Arizona Biltmore from Blackstone’s BRE Hotels. $705 million is news-level (Bloomberg first cited unnamed sources; CoStar later cited a May 8 deed). Resort plus golf-adjacent campus — not a downtown Phoenix select-service tape.

Open the tape →FramePacketEstimatePhoenix / ScottsdaleCompare

News / press releaseHost boughtNov 1, 2022

Four Seasons Jackson Hole — Host Hotels acquisition

Four Seasons Resort and Residences Jackson Hole · 125 keys · Luxury

Consideration

$315.0M

$2.5M / key

Host IR: $315 million for the 125-room Four Seasons Resort and Residences Jackson Hole. Host’s own 2022 purchase — not an allocated slice of the 2026 sale.

Host Hotels & Resorts IR, February 18, 2026 (recites November 1, 2022 purchase of $315 million)

Host’s February 2026 IR states it purchased the 125-room Four Seasons Jackson Hole on November 1, 2022 for $315 million. Host naming its own buy. Mountain luxury — not an Amangani 40-key boundary. The 2026 exit with Orlando is a separate $1.1 billion combined tape; Harbor does not split it.

Open the tape →FramePacketEstimateJackson HoleCompare

News / press releaseMay 2, 2022

The Cosmopolitan of Las Vegas — Blackstone to MGM

The Cosmopolitan of Las Vegas · 3027 keys · Luxury

Consideration

$5.65B

$1.9M / key

Total consideration: cash, assumed CMBS, and residual land — not rooms-only.

MGM Resorts press release (announced 2021; closed 2022)

MGM acquired The Cosmopolitan from Blackstone. Published consideration mixed cash, $3.68B CMBS assumption, and residual land. Hotel-casino. Do not use this PPK on a rooms-only boutique.

Open the tape →FramePacketEstimateLas VegasCompare

News / press releaseFeb 23, 2022

The Venetian Resort Las Vegas — Sands to Apollo / VICI

The Venetian Resort Las Vegas · 7092 keys · Upper upscale

Consideration

$6.25B

$881k / key

Ops to Apollo affiliates; real estate to VICI. Includes expo and gaming.

Las Vegas Sands / VICI Properties press releases, 2021–2022

Las Vegas Sands sold The Venetian Resort. Structure split operations and real estate. $6.25B is not a rooms-only hotel sale. Expo, retail, and gaming are inside the number.

Open the tape →FramePacketEstimateLas VegasCompare

News / press releaseHost boughtMay 4, 2021

Four Seasons Resort Orlando — Host Hotels acquisition

Four Seasons Resort Orlando at Walt Disney World Resort · 444 keys · Luxury

Consideration

$610.0M

$1.4M / key

Host IR: $610 million for the 444-room Four Seasons Resort Orlando. Host’s own 2021 purchase — not an allocated slice of the 2026 sale.

Host Hotels & Resorts IR, February 18, 2026 (recites May 4, 2021 purchase of $610 million)

Host’s February 2026 IR states it purchased the 444-room Four Seasons Resort Orlando on May 4, 2021 for $610 million. That is Host naming its own buy, not a later allocated sale price. Disney-property luxury — not an International Drive convention box. The 2026 exit with Jackson Hole is a separate $1.1 billion combined tape; Harbor does not split it.

Open the tape →FramePacketEstimateOrlandoCompare

News / press releaseNov 15, 2019

Bellagio real estate — sale-leaseback to Blackstone / GIC

Bellagio · 3933 keys · Luxury

Consideration

$4.25B

$1.1M / key

Sale-leaseback of real estate. MGM continued to operate under a long lease.

MGM Resorts announcement, 2019

MGM sold Bellagio real estate to Blackstone Real Estate and GIC and leased it back. This is a financing/real-estate structure, not a conventional going-concern hotel sale. Cap-rate comparisons to a boutique independent will mislead.

Open the tape →FramePacketEstimateLas VegasCompare

Public filingHost boughtMar 29, 2018

Andaz Maui + Grand Hyatt SF + Hyatt Regency Coconut Point — Host / Hyatt portfolio

Other U.S. markets · 1423 keys · Luxury

Consideration

$1.00B

$703k / key

Hyatt 8-K: aggregate purchase price under the three-property PSA of approximately $1.0 billion. Portfolio tape. Harbor does not split Andaz Maui from Grand Hyatt San Francisco.

Hyatt Hotels Corporation Form 8-K, March 29, 2018

Closed March 29, 2018. 301-key Andaz Maui (plus adjacent land), 668-key Grand Hyatt San Francisco, and 454-key Hyatt Regency Coconut Point sold to Host for approximately $1.0 billion. Hyatt attributed ~$800 million combined to Andaz + Grand Hyatt SF and ~$200 million to Coconut Point. Those attributions are Hyatt’s, not separately priced rooms-only deeds. Do not use the blended $702k/key as a single-house comp.

Open the tape →Other U.S. marketsCompare

News / press releaseHost boughtMar 29, 2018

Hyatt Regency Coconut Point — Hyatt-attributed slice of the 2018 Host PSA

Hyatt Regency Coconut Point Resort and Spa · 454 keys · Upper upscale

Consideration

$200.0M

$441k / key

Hyatt-attributed value of approximately $200 million inside the $1.0 billion three-hotel PSA. Not a separately priced rooms-only deed.

Hyatt Form 8-K exhibit 99.1 / February 2018 sale announcement (attributed values)

Hyatt said the sale of Hyatt Regency Coconut Point reflected an attributed value of approximately $200 million (≈12x 2018 pro-forma EBITDA). That is Hyatt’s attribution inside a portfolio PSA, not an allocated purchase price Harbor will treat as a rooms-only tape. Southwest Florida group resort — not a South Beach lifestyle PPK. See the $1.0 billion combined tape.

Open the tape →FramePacketEstimateSouthwest FloridaCompare

News / press releaseHost boughtJun 8, 2015

The Phoenician — Host Hotels acquisition

The Phoenician · 643 keys · Luxury

Consideration

$400.0M

$622k / key

Host IR: $400 million for the 643-room resort, including a 27-hole golf course and adjacent land parcels. Not a rooms-only PPK.

Host Hotels & Resorts IR, June 8, 2015

On June 8, 2015 Host acquired the 643-room Phoenician, a Luxury Collection resort, for $400 million. The release includes golf and two adjacent parcels zoned for residential. Seller is not named in Host’s release — Harbor will not invent one. Scottsdale resort, not a downtown Phoenix select-service tape.

Open the tape →FramePacketEstimatePhoenix / ScottsdaleCompare

News / press releaseMay 15, 2014

The Cosmopolitan of Las Vegas — Deutsche Bank to Blackstone

The Cosmopolitan of Las Vegas · 3027 keys · Luxury

Consideration

$1.73B

$572k / key

Hotel-casino going-concern. Not a rooms-only boutique tape.

The New York Times DealBook, May 2014

Blackstone agreed to buy The Cosmopolitan from Deutsche Bank for $1.73 billion. Hotel-casino. Use as a structure-aware Strip tape, not a 120-key independent comp. Later 2022 MGM consideration is a different capital stack.

Open the tape →FramePacketEstimateLas VegasCompare

Hire · not a brochure

Process before the compliment

Match the desk to the species of hotel. A trophy and a Hampton do not share a banker. Harbor will not invent a producer, a cell, or a league table. This folio is process help, not a cold list.

I · Source

Attach from a public page

A desk appears when a press release, 8-K, or firm page names the house. Harbor will not invent a producer to fill a row.

II · Practice desk

Firm when the roster is not ours

CBRE Hotels Americas and HWE Atlanta stand in when Harbor will not publish a private cell. Deal credit still needs a source.

III · Finding

A quiet year is a finding

Years with no attached tape stay blank. That is not a void to fill with a league table.

IV · Comps

Name the comparable set first

Segment, keys, region, affiliation. If they cannot say which tapes have public prices, they are selling atmosphere.

V · Conflict

Ask the conflict sentence

Who else do they represent on this asset or this buyer? Undisclosed dual agency is how you pay twice.

VI · Engagement

Read it as a contract

Tail, protection list, co-broker, marketing spend, and whether they can be the buyer. A handshake is not a hire.

Deal Frame · Living packet · Open the choose-broker job · Sell-side playbook · Compare two tapes · Morning blotter · Directory hire