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.
Jul 30, 2026
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.
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.
$339,829 / key · 821 keys
$448,361 / key · Harbor defaults
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.