Hotels only · No pay-to-rank · Advice first; verified when attested
Two tapes · no invented prices · Amangani
Pick two cited events. Harbor will not allocate a combined PSA into hotel prices. A gap is a question. Not an appraisal.
Nov 19, 2025
Montrose at Beverly Hills · Los Angeles · 133 keys · Upscale
$44.3M
$332,707 / key
Pebblebrook 8-K: $44.25 million for the 133-room Montrose at Beverly Hills. West Hollywood lifestyle — not a Sunset trophy.
Pebblebrook Hotel Trust Form 8-K, November 19, 2025 (press dated November 20)
Morning blotter · public filing or issuer IR. Combined PSAs stay combined. Harbor will not invent a price.
Dec 22, 2025
Motto by Hilton Nashville Downtown · Nashville · 260 keys · Upscale
$98.2M
$377,692 / key
Apple IR: approximately $98.2 million for the 260-room new-build Motto. Rooms-focused — not a 1 Hotel lifestyle PPK.
Apple Hospitality REIT Exhibit 99.1, December 22, 2025
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.
$332,707 / key · 133 keys
$431,262 / key · Harbor defaults
Los Angeles · worksheet vs tape PPK
Pebblebrook 8-K: $44.25 million for the 133-room Montrose at Beverly Hills. West Hollywood lifestyle — not a Sunset trophy.
Pebblebrook Hotel Trust Form 8-K, November 19, 2025 (press dated November 20)
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.
$377,692 / key · 260 keys
$308,585 / key · Harbor defaults
Nashville · worksheet vs tape PPK
Apple IR: approximately $98.2 million for the 260-room new-build Motto. Rooms-focused — not a 1 Hotel lifestyle PPK.
Apple Hospitality REIT Exhibit 99.1, December 22, 2025
Morning blotter · public filing or issuer IR. Combined PSAs stay combined. Harbor will not invent a price.