Hotels only · No pay-to-rank · Advice first; verified when attested
Two tapes · no invented prices · Fairmont Dallas
Pick two cited events. Harbor will not allocate a combined PSA into hotel prices. A gap is a question. Not an appraisal.
Apr 1, 2025
Fairmont Dallas · Dallas–Fort Worth · 545 keys · Luxury
$111.0M
$203,670 / key
Xenia Exhibit 99.1: $111.0 million for the 545-room Fairmont Dallas. April 2025; day-of-month not named. Downtown luxury — exclusive of an estimated $80 million near-term capex. Not a Plano Hyatt Place PPK.
Morning blotter · public filing or issuer IR. Combined PSAs stay combined. Harbor will not invent a price.
Feb 10, 2017
Fairmont Newport Beach · Orange County, California · 444 keys · Luxury
$125.0M
$281,532 / key
Sunstone Exhibit 99.1: $125.0 million gross for the 444-room Fairmont Newport Beach. Coastal Orange County Fairmont — not a Dallas Fairmont PPK and not a Gurney’s Newport, RI PPK.
Sunstone Hotel Investors Exhibit 99.1, February 21, 2017 (sold February 10)
Historical cited · 2017 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.
$203,670 / key · 545 keys
$301,419 / key · Harbor defaults
Dallas–Fort Worth · worksheet vs tape PPK
Xenia Exhibit 99.1: $111.0 million for the 545-room Fairmont Dallas. April 2025; day-of-month not named. Downtown luxury — exclusive of an estimated $80 million near-term capex. Not a Plano Hyatt Place PPK.
Morning blotter · 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.
$281,532 / key · 444 keys
$465,186 / key · Harbor defaults
Orange County, California · worksheet vs tape PPK
Sunstone Exhibit 99.1: $125.0 million gross for the 444-room Fairmont Newport Beach. Coastal Orange County Fairmont — not a Dallas Fairmont PPK and not a Gurney’s Newport, RI PPK.
Sunstone Hotel Investors Exhibit 99.1, February 21, 2017 (sold February 10)
Historical cited · 2017 corpus. Public filing or issuer IR. Combined PSAs stay combined. Harbor will not invent a price.