Hotels only · No pay-to-rank · Advice first; verified when attested
Two tapes · no invented prices · The Heathman Hotel
Pick two cited events. Harbor will not allocate a combined PSA into hotel prices. A gap is a question. Not an appraisal.
Feb 22, 2023
The Heathman Hotel · Portland · 151 keys · Upper upscale
$45.0M
$298,013 / key
Pebblebrook 10-Q: $45.0 million for The Heathman Hotel, Portland. Closed February 22, 2023. Keys (151) from Pebblebrook IR. Downtown independent — not a waterfront palace PPK.
Historical cited · 2023 corpus. Public filing or issuer IR. Combined PSAs stay combined. Harbor will not invent a price.
Jul 21, 2026
Kimpton RiverPlace Hotel · Portland · 85 keys · Upper upscale
$11.0M
$129,412 / key
Xenia 10-Q: $11.0 million for the 85-room Kimpton RiverPlace Hotel. Waterfront boutique — exclusive of significant near-term capex. Not a downtown independent PPK.
Xenia Hotels & Resorts Form 10-Q subsequent event (closed July 21, 2026)
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.
$298,013 / key · 151 keys
$265,249 / key · Harbor defaults
Portland · worksheet vs tape PPK
Pebblebrook 10-Q: $45.0 million for The Heathman Hotel, Portland. Closed February 22, 2023. Keys (151) from Pebblebrook IR. Downtown independent — not a waterfront palace PPK.
Historical cited · 2023 corpus. 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.
$129,412 / key · 85 keys
$253,192 / key · Harbor defaults
Portland · worksheet vs tape PPK
Xenia 10-Q: $11.0 million for the 85-room Kimpton RiverPlace Hotel. Waterfront boutique — exclusive of significant near-term capex. Not a downtown independent PPK.
Xenia Hotels & Resorts Form 10-Q subsequent event (closed July 21, 2026)
Morning blotter · public filing or issuer IR. Combined PSAs stay combined. Harbor will not invent a price.