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Harborby Signalry

Two tapes · no invented prices · Four Seasons Resort and Residences Jackson Hole

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.

Nov 1, 2022

Four Seasons Jackson Hole — Host Hotels acquisition

Four Seasons Resort and Residences Jackson Hole · Jackson Hole · 125 keys · Luxury

$315.0M

$2,520,000 / key

Host IR: $315 million for the 125-room Four Seasons Resort and Residences Jackson Hole. Host’s own 2022 purchase — not an allocated slice of the 2026 sale.

Host Hotels & Resorts IR, February 18, 2026 (recites November 1, 2022 purchase of $315 million)

Historical cited · 2022 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
$315.0M

$2,520,000 / key · 125 keys

Worksheet
$299.1M

$2,393,130 / key · Harbor defaults

Gap
-5%

Jackson Hole · worksheet vs tape PPK

Host IR: $315 million for the 125-room Four Seasons Resort and Residences Jackson Hole. Host’s own 2022 purchase — not an allocated slice of the 2026 sale.

Host Hotels & Resorts IR, February 18, 2026 (recites November 1, 2022 purchase of $315 million)

Historical cited · 2022 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