Hotels only · No pay-to-rank · Advice first; verified when attested
Two tapes · no invented prices · Ambrose Hotel
Pick two cited events. Harbor will not allocate a combined PSA into hotel prices. A gap is a question. Not an appraisal.
Dec 1, 2016
Ambrose Hotel · Los Angeles · 77 keys · Independent / boutique
$47.5M
$616,883 / key
Hersha Exhibit 99.1: $47.5 million for the 77-room Ambrose Hotel in Santa Monica, CA. Santa Monica boutique — not a downtown Ace PPK.
Hersha Hospitality Trust Exhibit 99.1, February 22, 2017 (December 1, 2016 close)
Historical cited · 2016 corpus. Public filing or issuer IR. Combined PSAs stay combined. Harbor will not invent a price.
Jul 16, 2019
Hotel Amarano Burbank · Los Angeles · 132 keys · Upscale
$72.9M
$552,273 / key
Pebblebrook 8-K Exhibit 99.1: $72.9 million for the 132-room Hotel Amarano Burbank. Media District boutique — not a Sunset trophy PPK.
Pebblebrook Hotel Trust Form 8-K Exhibit 99.1, July 16, 2019
Historical cited · 2019 corpus. Public filing or issuer IR. Combined PSAs stay combined. Harbor will not invent a price.
Different houses. Do not average PPK across markets or structures.
Estimate ↔ tape
Cited consideration on the left. Harbor’s labeled defaults on the right. A gap is a question, not a bid. Portfolio tapes and seller paper stay footnoted. Not an appraisal.
$616,883 / key · 77 keys
$496,400 / key · Harbor defaults
Los Angeles · worksheet vs tape PPK
Hersha Exhibit 99.1: $47.5 million for the 77-room Ambrose Hotel in Santa Monica, CA. Santa Monica boutique — not a downtown Ace PPK.
Hersha Hospitality Trust Exhibit 99.1, February 22, 2017 (December 1, 2016 close)
Historical cited · 2016 corpus. Public filing or issuer IR. Combined PSAs stay combined. Harbor will not invent a price.
Estimate ↔ tape
Cited consideration on the left. Harbor’s labeled defaults on the right. A gap is a question, not a bid. Portfolio tapes and seller paper stay footnoted. Not an appraisal.
$552,273 / key · 132 keys
$361,703 / key · Harbor defaults
Los Angeles · worksheet vs tape PPK
Pebblebrook 8-K Exhibit 99.1: $72.9 million for the 132-room Hotel Amarano Burbank. Media District boutique — not a Sunset trophy PPK.
Pebblebrook Hotel Trust Form 8-K Exhibit 99.1, July 16, 2019
Historical cited · 2019 corpus. Public filing or issuer IR. Combined PSAs stay combined. Harbor will not invent a price.