Two tapes · no invented prices

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.

Next to each other. Not blended. A missing price stays a question.

Tape ATape B

Jan 1, 2026

Hilton Checkers Los Angeles — Park disposition

Hilton Checkers Los Angeles · Los Angeles · 193 keys · Upper upscale

$13.0M

$67,358 / key

Park 10-Q: approximately $13 million gross for Hilton Checkers Los Angeles. Keys (193) from Park’s same-quarter Exhibit 99.1. Downtown box — not a West Hollywood hillside PPK.

Public filingMorning blotter · 2025–26 Park sold193 keys

Park Hotels & Resorts Form 10-Q, quarter ended March 31, 2026 (January close; day unnamed)

Morning blotter · public filing or issuer IR. Combined PSAs stay combined. Harbor will not invent a price.

Open the tape Deal Frame Worksheet Market Swap sides

May 22, 2025

Hyatt Centric Fisherman’s Wharf — Park Hotels disposition

Hyatt Centric Fisherman’s Wharf · San Francisco · 316 keys · Upscale

$80.0M

$253,165 / key

Park IR: $80 million for the 316-room Hyatt Centric Fisherman’s Wharf. Wharf upscale — not a Union Square palace.

News / press releaseMorning blotter · 2025–26 Park sold316 keys

Park Hotels & Resorts IR / BusinessWire, May 22, 2025

Morning blotter · public filing or issuer IR. Combined PSAs stay combined. Harbor will not invent a price.

Open the tape Deal Frame Worksheet Market Swap 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: $13.0M
Worksheet: $52.8M
Gap: +306%

Park 10-Q: approximately $13 million gross for Hilton Checkers Los Angeles. Keys (193) from Park’s same-quarter Exhibit 99.1. Downtown box — not a West Hollywood hillside PPK.

Public filingMorning blotter · 2025–26 Park sold193 keys

Park Hotels & Resorts Form 10-Q, quarter ended March 31, 2026 (January close; day unnamed)

Morning blotter · public filing or issuer IR. Combined PSAs stay combined. Harbor will not invent a price.

Open the tape Deal Frame Shock the worksheet Compare 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: $80.0M
Worksheet: $95.8M
Gap: +20%

Park IR: $80 million for the 316-room Hyatt Centric Fisherman’s Wharf. Wharf upscale — not a Union Square palace.

News / press releaseMorning blotter · 2025–26 Park sold316 keys

Park Hotels & Resorts IR / BusinessWire, May 22, 2025

Morning blotter · public filing or issuer IR. Combined PSAs stay combined. Harbor will not invent a price.

Open the tape Deal Frame Shock the worksheet Compare tapes