Hotels only · No pay-to-rank · Advice first; verified when attested
Two tapes · no invented prices
Pick two cited events. Harbor will not allocate a combined PSA into hotel prices. A gap is a question. Not an appraisal.
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.
Dec 23, 2025
Homewood Suites by Hilton Boston-Billerica · Boston · 147 keys · Upscale
$17.4M
$118,367 / key
Chatham IR / 10-K: $17.4 million for the 147-suite Homewood Suites Boston-Billerica. Interstate extended-stay — not a Back Bay PPK.
Chatham Lodging Trust Form 10-K for the year ended Dec 31, 2025 (147 suites also in Dec 23, 2025 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.
$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.
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.
$118,367 / key · 147 keys
$214,641 / key · Harbor defaults
Boston · worksheet vs tape PPK
Chatham IR / 10-K: $17.4 million for the 147-suite Homewood Suites Boston-Billerica. Interstate extended-stay — not a Back Bay PPK.
Chatham Lodging Trust Form 10-K for the year ended Dec 31, 2025 (147 suites also in Dec 23, 2025 IR)
Morning blotter · public filing or issuer IR. Combined PSAs stay combined. Harbor will not invent a price.