Hotels only · No pay-to-rank · Advice first; verified when attested
Two tapes · no invented prices · Fairmont San Francisco
Pick two cited events. Harbor will not allocate a combined PSA into hotel prices. A gap is a question. Not an appraisal.
Nov 24, 2015
Fairmont San Francisco · San Francisco · 606 keys · Luxury
$450.0M
$742,574 / key
Owning-company sale as announced by the sellers (Oaktree / Woodridge / Kingdom). Contemporaneous reports used 591–606 keys. Harbor PPK uses the desk’s 606-key count.
The Registry / seller announcement, Nov 24–25 2015
News or press — not a filing. Harbor will not invent a confidential consideration.
Mar 29, 2022
W Nashville · Nashville · 346 keys · Luxury
$328.7M
$949,711 / key
Xenia 8-K Exhibit 99.1: $328.7 million for the 346-key W Nashville. Gulch W — not a Motto Nashville PPK and not a 21c PPK.
Xenia Hotels & Resorts Form 8-K Exhibit 99.1, March 29, 2022 (closed March 29)
Historical cited · 2022 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.
$742,574 / key · 606 keys
$595,735 / key · Harbor defaults
San Francisco · worksheet vs tape PPK
Owning-company sale as announced by the sellers (Oaktree / Woodridge / Kingdom). Contemporaneous reports used 591–606 keys. Harbor PPK uses the desk’s 606-key count.
The Registry / seller announcement, Nov 24–25 2015
News or press — not a filing. Harbor will not invent a confidential consideration.
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.
$949,711 / key · 346 keys
$695,418 / key · Harbor defaults
Nashville · worksheet vs tape PPK
Xenia 8-K Exhibit 99.1: $328.7 million for the 346-key W Nashville. Gulch W — not a Motto Nashville PPK and not a 21c PPK.
Xenia Hotels & Resorts Form 8-K Exhibit 99.1, March 29, 2022 (closed March 29)
Historical cited · 2022 corpus. Public filing or issuer IR. Combined PSAs stay combined. Harbor will not invent a price.