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Two tapes · no invented prices · Hampton Inn Cypress

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.

Jun 29, 2015

Hampton Inn Cypress — Apple Hospitality acquisition

Hampton Inn Cypress · Orange County, California · 110 keys · Upper midscale

$19.8M

$180,000 / key

Apple 2015 10-K table: $19.8 million for the existing 110-room Hampton Inn Cypress. Cypress Hampton — not a Burbank boutique PPK.

Apple Hospitality REIT Form 10-K for the year ended December 31, 2015 (closed June 29)

Historical cited · 2015 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
$19.8M

$180,000 / key · 110 keys

Worksheet
$18.8M

$171,211 / key · Harbor defaults

Gap
-5%

Orange County, California · worksheet vs tape PPK

Apple 2015 10-K table: $19.8 million for the existing 110-room Hampton Inn Cypress. Cypress Hampton — not a Burbank boutique PPK.

Apple Hospitality REIT Form 10-K for the year ended December 31, 2015 (closed June 29)

Historical cited · 2015 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