Hotels only · No pay-to-rank · Advice first; verified when attested
Two tapes · no invented prices · Envoy Hotel
Pick two cited events. Harbor will not allocate a combined PSA into hotel prices. A gap is a question. Not an appraisal.
Jul 1, 2016
Envoy Hotel · Boston · 136 keys · Upper upscale
$112.5M
$827,206 / key
Hersha Exhibit 99.1: $112.5 million for the 136-room Envoy Hotel in Boston. Boston Envoy — not a Back Bay convention PPK.
Hersha Hospitality Trust Exhibit 99.1, October 25, 2016 (July 2016 close)
Historical cited · 2016 corpus. Public filing or issuer IR. Combined PSAs stay combined. Harbor will not invent a price.
Jul 9, 2024
Lorien Hotel & Spa · Washington, D.C. · 107 keys · Upper upscale
$30.0M
$280,374 / key
Xenia Q2 2024 10-Q: $30.0 million sale price for the 107-room Lorien Hotel & Spa, Alexandria. Old Town boutique — not a City Center Westin PPK.
Xenia Hotels & Resorts Form 10-Q, quarter ended June 30, 2024 (closed July 9)
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.
$827,206 / key · 136 keys
$510,583 / key · Harbor defaults
Boston · worksheet vs tape PPK
Hersha Exhibit 99.1: $112.5 million for the 136-room Envoy Hotel in Boston. Boston Envoy — not a Back Bay convention PPK.
Hersha Hospitality Trust Exhibit 99.1, October 25, 2016 (July 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.
$280,374 / key · 107 keys
$330,377 / key · Harbor defaults
Washington, D.C. · worksheet vs tape PPK
Xenia Q2 2024 10-Q: $30.0 million sale price for the 107-room Lorien Hotel & Spa, Alexandria. Old Town boutique — not a City Center Westin PPK.
Xenia Hotels & Resorts Form 10-Q, quarter ended June 30, 2024 (closed July 9)
Historical cited · 2024 corpus. Public filing or issuer IR. Combined PSAs stay combined. Harbor will not invent a price.