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Harborby Signalry

Two tapes · no invented prices · Grand Wailea, A Waldorf Astoria Resort

Next to each other. Not blended.

Pick two cited events. Harbor will not allocate a combined PSA into hotel prices. A gap is a question. Not an appraisal.

May 8, 2024

Arizona Biltmore — Blackstone to Henderson Park

Arizona Biltmore · Phoenix / Scottsdale · 705 keys · Luxury

$705.0M

$1,000,000 / key

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

News / press releaseHistorical cited · 2024705 keys

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

News or press — not a filing. Harbor will not invent a confidential consideration.

Open the tapeDeal FrameWorksheetMarketSwap sides

Different houses. Do not average PPK across markets or structures.

Estimate ↔ tape

The worksheet next to the filing

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.

Tape
$705.0M

$1,000,000 / key · 705 keys

Worksheet
$543.0M

$770,276 / key · Harbor defaults

Gap
-23%

Phoenix / Scottsdale · worksheet vs tape PPK

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

News / press releaseHistorical cited · 2024705 keys

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

News or press — not a filing. Harbor will not invent a confidential consideration.

Open the tapeDeal FrameShock the worksheetCompare tapes

Estimate ↔ tape

The worksheet next to the filing

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.

Tape
$610.0M

$786,082 / key · 776 keys

Worksheet
$1.28B

$1,653,169 / key · Harbor defaults

Gap
+110%

Maui · worksheet vs tape PPK

Consideration as reported in contemporaneous trade press. Confirm against the buyer/seller release.

News / press releaseHistorical cited · 2018776 keys

Trade press, late 2018 (BREIT disposition / Blackstone–Highgate)

News or press — not a filing. Harbor will not invent a confidential consideration.

Open the tapeDeal FrameShock the worksheetCompare tapes