Hotels only · No pay-to-rank · Advice first; verified when attested
Two tapes · no invented prices · The Alida, Savannah
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.
Jul 30, 2026
Hyatt Regency San Francisco · San Francisco · 821 keys · Upper upscale
$279.0M
$339,829 / key
Sunstone Exhibit 99.1: $279 million gross for the 821-room Hyatt Regency San Francisco. Embarcadero convention atrium — not a Nob Hill palace PPK and not the $80 million Wharf Centric.
Sunstone Hotel Investors Exhibit 99.1, August 6, 2026 (closed July 30)
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.
$339,829 / key · 821 keys
$448,361 / key · Harbor defaults
San Francisco · worksheet vs tape PPK
Sunstone Exhibit 99.1: $279 million gross for the 821-room Hyatt Regency San Francisco. Embarcadero convention atrium — not a Nob Hill palace PPK and not the $80 million Wharf Centric.
Sunstone Hotel Investors Exhibit 99.1, August 6, 2026 (closed July 30)
Morning blotter · public filing or issuer IR. Combined PSAs stay combined. Harbor will not invent a price.