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Two tapes · no invented prices · Estancia La Jolla Hotel & Spa

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.

Dec 1, 2021

Estancia La Jolla Hotel & Spa — Pebblebrook leasehold acquisition

Estancia La Jolla Hotel & Spa · San Diego · 210 keys · Upper upscale

$108.0M

$514,286 / key

Pebblebrook 8-K: $108.0 million for the leasehold interest in the 210-room Estancia La Jolla Hotel & Spa. Ground lease through January 30, 2066. Leasehold — not a Hotel del Coronado PPK.

Public filingHistorical cited · 2021Issuer filing210 keys

Pebblebrook Hotel Trust Form 8-K, December 1, 2021 (closed December 1)

Historical cited · 2021 corpus. Public filing or issuer IR. Combined PSAs stay combined. Harbor will not invent a price.

Open the tapeDeal FrameWorksheetMarketSwap sides

Jul 30, 2026

Hyatt Regency San Francisco — Sunstone disposition

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.

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
$108.0M

$514,286 / key · 210 keys

Worksheet
$123.6M

$588,603 / key · Harbor defaults

Gap
+14%

San Diego · worksheet vs tape PPK

Pebblebrook 8-K: $108.0 million for the leasehold interest in the 210-room Estancia La Jolla Hotel & Spa. Ground lease through January 30, 2066. Leasehold — not a Hotel del Coronado PPK.

Public filingHistorical cited · 2021Issuer filing210 keys

Pebblebrook Hotel Trust Form 8-K, December 1, 2021 (closed December 1)

Historical cited · 2021 corpus. 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
$279.0M

$339,829 / key · 821 keys

Worksheet
$368.1M

$448,361 / key · Harbor defaults

Gap
+32%

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.

Open the tapeDeal FrameShock the worksheetCompare tapes