Hotels only · No pay-to-rank · Advice first; verified when attested
Two tapes · no invented prices · Courtyard Scranton
Pick two cited events. Harbor will not allocate a combined PSA into hotel prices. A gap is a question. Not an appraisal.
Feb 1, 2006
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.
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.
Nov 12, 2024
Courtyard by Marriott Wichita East · Wichita · 90 keys · Upscale
$3.1M
$34,444 / key
Apple Exhibit 99.1: approximately $3.1 million for the 90-room Courtyard Wichita East. East-side select-service — not a Kansas City PPK.
Apple Hospitality REIT Exhibit 99.1, February 24, 2025 (close day from Apple’s later sold table)
Historical cited · 2024 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.
$73,333 / key · 120 keys
$120,855 / key · Harbor defaults
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.
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.
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.
$34,444 / key · 90 keys
$123,716 / key · Harbor defaults
Wichita · worksheet vs tape PPK
Apple Exhibit 99.1: approximately $3.1 million for the 90-room Courtyard Wichita East. East-side select-service — not a Kansas City PPK.
Apple Hospitality REIT Exhibit 99.1, February 24, 2025 (close day from Apple’s later sold table)
Historical cited · 2024 corpus. Public filing or issuer IR. Combined PSAs stay combined. Harbor will not invent a price.