Hotels only · No pay-to-rank · Advice first; verified when attested
Two tapes · no invented prices · Boston Park Plaza
Pick two cited events. Harbor will not allocate a combined PSA into hotel prices. A gap is a question. Not an appraisal.
Oct 26, 2023
Boston Park Plaza · Boston · 1060 keys · Upper upscale
$370.0M
$349,057 / key
Sunstone Exhibit 99.1: $370.0 million contractual gross for the 1,060-room Boston Park Plaza. Downtown historic box — not a Billerica interstate PPK.
Sunstone Hotel Investors Exhibit 99.1, third quarter 2023 (closed October 26)
Historical cited · 2023 corpus. Public filing or issuer IR. Combined PSAs stay combined. Harbor will not invent a price.
Jul 30, 2026
Hyatt Regency San Francisco · San Francisco · 821 keys · Upper upscale
$279.0M
$339,829 / key
Sunstone Exhibit 99.1: $279 million gross for the 821-room Hyatt Regency San Francisco. Embarcadero convention atrium — not a Nob Hill palace PPK and not the $80 million Wharf Centric.
Sunstone Hotel Investors Exhibit 99.1, August 6, 2026 (closed July 30)
Morning blotter · 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.
$349,057 / key · 1060 keys
$494,516 / key · Harbor defaults
Boston · worksheet vs tape PPK
Sunstone Exhibit 99.1: $370.0 million contractual gross for the 1,060-room Boston Park Plaza. Downtown historic box — not a Billerica interstate PPK.
Sunstone Hotel Investors Exhibit 99.1, third quarter 2023 (closed October 26)
Historical cited · 2023 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.
$339,829 / key · 821 keys
$448,361 / key · Harbor defaults
San Francisco · worksheet vs tape PPK
Sunstone Exhibit 99.1: $279 million gross for the 821-room Hyatt Regency San Francisco. Embarcadero convention atrium — not a Nob Hill palace PPK and not the $80 million Wharf Centric.
Sunstone Hotel Investors Exhibit 99.1, August 6, 2026 (closed July 30)
Morning blotter · public filing or issuer IR. Combined PSAs stay combined. Harbor will not invent a price.