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Harborby Signalry

Two tapes · no invented prices · The Broadmoor

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 13, 2024

Hotel Teatro — RLJ acquisition

Hotel Teatro · Denver · 110 keys · Upper upscale

$35.5M

$322,727 / key

RLJ Q2 2024 10-Q: $35.5 million for the 110-room Hotel Teatro, Denver. Downtown historic boutique — not a Monaco Denver PPK and not the Beacon Hill land line.

Public filingHistorical cited · 2024Issuer filing110 keys

RLJ Lodging Trust Form 10-Q, quarter ended June 30, 2024 (closed June 13)

Historical cited · 2024 corpus. Public filing or issuer IR. Combined PSAs stay combined. Harbor will not invent a price.

Open the tapeDeal FrameWorksheetMarketSwap sides

Jun 13, 2024

Hotel Teatro — RLJ acquisition

Hotel Teatro · Denver · 110 keys · Upper upscale

$35.5M

$322,727 / key

RLJ Q2 2024 10-Q: $35.5 million for the 110-room Hotel Teatro, Denver. Downtown historic boutique — not a Monaco Denver PPK and not the Beacon Hill land line.

Public filingHistorical cited · 2024Issuer filing110 keys

RLJ Lodging Trust Form 10-Q, quarter ended June 30, 2024 (closed June 13)

Historical cited · 2024 corpus. Public filing or issuer IR. Combined PSAs stay combined. Harbor will not invent a price.

Open the tapeDeal FrameWorksheetMarketSwap sides

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
$35.5M

$322,727 / key · 110 keys

Worksheet
$35.2M

$319,720 / key · Harbor defaults

Gap
-1%

Denver · worksheet vs tape PPK

RLJ Q2 2024 10-Q: $35.5 million for the 110-room Hotel Teatro, Denver. Downtown historic boutique — not a Monaco Denver PPK and not the Beacon Hill land line.

Public filingHistorical cited · 2024Issuer filing110 keys

RLJ Lodging Trust Form 10-Q, quarter ended June 30, 2024 (closed June 13)

Historical cited · 2024 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
$35.5M

$322,727 / key · 110 keys

Worksheet
$35.2M

$319,720 / key · Harbor defaults

Gap
-1%

Denver · worksheet vs tape PPK

RLJ Q2 2024 10-Q: $35.5 million for the 110-room Hotel Teatro, Denver. Downtown historic boutique — not a Monaco Denver PPK and not the Beacon Hill land line.

Public filingHistorical cited · 2024Issuer filing110 keys

RLJ Lodging Trust Form 10-Q, quarter ended June 30, 2024 (closed June 13)

Historical cited · 2024 corpus. Public filing or issuer IR. Combined PSAs stay combined. Harbor will not invent a price.

Open the tapeDeal FrameShock the worksheetCompare tapes