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Harborby Signalry

Two tapes · no invented prices · Courtyard Scranton

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.

Oct 1, 2025

Courtyard Amarillo — Summit / GIC disposition

Courtyard by Marriott Amarillo · Amarillo, Texas · 107 keys · Upscale

$20.0M

$186,916 / key

Summit 10-K: $20.0 million for the 107-guestroom Courtyard Amarillo. October 2025; day-of-month not named. Panhandle select-service — not a Dallas Uptown PPK.

Public filingMorning blotter · 2025–26Issuer filing107 keys

Summit Hotel Properties Form 10-K for the year ended Dec 31, 2025 (October 2025 close; day unnamed)

Morning blotter · public filing or issuer IR. Combined PSAs stay combined. Harbor will not invent a price.

Open the tapeDeal FrameWorksheetMarketSwap sides

Feb 1, 2006

Courtyard Scranton — Hersha acquisition

Courtyard Scranton · Scranton · 120 keys · Upscale

$8.8M

$73,333 / key

Hersha 8-K: approximately $8.8 million for the 120-room Courtyard by Marriott in Scranton. Scranton Courtyard — not a Westside Courtyard PPK.

Public filingHistorical cited · 2006Issuer filing120 keys

Hersha Hospitality Trust Form 8-K, September 12, 2006 (February 1, 2006 close)

Historical cited · 2006 corpus. Public filing or issuer IR. Combined PSAs stay combined. Harbor will not invent a price.

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
$20.0M

$186,916 / key · 107 keys

Worksheet
$15.1M

$141,373 / key · Harbor defaults

Gap
-24%

Amarillo, Texas · worksheet vs tape PPK

Summit 10-K: $20.0 million for the 107-guestroom Courtyard Amarillo. October 2025; day-of-month not named. Panhandle select-service — not a Dallas Uptown PPK.

Public filingMorning blotter · 2025–26Issuer filing107 keys

Summit Hotel Properties Form 10-K for the year ended Dec 31, 2025 (October 2025 close; day unnamed)

Morning blotter · public filing or issuer IR. Combined PSAs stay combined. Harbor will not invent a price.

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
$8.8M

$73,333 / key · 120 keys

Worksheet
$14.5M

$120,855 / key · Harbor defaults

Gap
+65%

Scranton · worksheet vs tape PPK

Hersha 8-K: approximately $8.8 million for the 120-room Courtyard by Marriott in Scranton. Scranton Courtyard — not a Westside Courtyard PPK.

Public filingHistorical cited · 2006Issuer filing120 keys

Hersha Hospitality Trust Form 8-K, September 12, 2006 (February 1, 2006 close)

Historical cited · 2006 corpus. Public filing or issuer IR. Combined PSAs stay combined. Harbor will not invent a price.

Open the tapeDeal FrameShock the worksheetCompare tapes