Hotels only · No pay-to-rank · Advice first; verified when attested
Two tapes · no invented prices · The Greenbrier
Pick two cited events. Harbor will not allocate a combined PSA into hotel prices. A gap is a question. Not an appraisal.
Jul 1, 2026
Hilton Short Hills · Northern New Jersey · 314 keys · Upper upscale
$12.0M
$38,217 / key
Park IR: $12 million gross for the 314-room Hilton Short Hills. Anticipated capex of about $27 million is Park’s narrative. Not a Midtown fee PPK.
Park Hotels & Resorts IR, Q2 2026 (July 2026 close; day-of-month not named)
Morning blotter · public filing or issuer IR. Combined PSAs stay combined. Harbor will not invent a price.
Apr 1, 2026
Hilton Seattle Airport & Conference Center · Seattle · 396 keys · Upper upscale
$18.0M
$45,455 / key
Park IR: $18 million gross for the 396-room Hilton Seattle Airport on a short-term ground lease. Anticipated capex over $25 million is Park’s narrative. Not a waterfront PPK.
Park Hotels & Resorts IR, Q2 2026 (April 2026 close; day-of-month not named in the IR)
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.
$38,217 / key · 314 keys
$187,321 / key · Harbor defaults
Northern New Jersey · worksheet vs tape PPK
Park IR: $12 million gross for the 314-room Hilton Short Hills. Anticipated capex of about $27 million is Park’s narrative. Not a Midtown fee PPK.
Park Hotels & Resorts IR, Q2 2026 (July 2026 close; day-of-month not named)
Morning blotter · 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.
$45,455 / key · 396 keys
$205,052 / key · Harbor defaults
Seattle · worksheet vs tape PPK
Park IR: $18 million gross for the 396-room Hilton Seattle Airport on a short-term ground lease. Anticipated capex over $25 million is Park’s narrative. Not a waterfront PPK.
Park Hotels & Resorts IR, Q2 2026 (April 2026 close; day-of-month not named in the IR)
Morning blotter · public filing or issuer IR. Combined PSAs stay combined. Harbor will not invent a price.