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Harborby Signalry

Two tapes · no invented prices · Sofitel Philadelphia at Rittenhouse Square

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.

Aug 2, 2022

Sofitel Philadelphia at Rittenhouse Square — Pebblebrook disposition

Sofitel Philadelphia at Rittenhouse Square · Philadelphia · 306 keys · Luxury

$80.0M

$261,438 / key

Pebblebrook 8-K: $80.0 million for the 306-room Sofitel Philadelphia at Rittenhouse Square. Center City luxury — not a slice of the Q3 2022 proceeds line.

Public filingHistorical cited · 2022Issuer filing306 keys

Pebblebrook Hotel Trust Form 8-K, August 2, 2022 (press dated August 3)

Historical cited · 2022 corpus. Public filing or issuer IR. Combined PSAs stay combined. Harbor will not invent a price.

Open the tapeDeal FrameWorksheetMarketSwap sides

Apr 1, 2025

Fairmont Dallas — Xenia disposition

Fairmont Dallas · Dallas–Fort Worth · 545 keys · Luxury

$111.0M

$203,670 / key

Xenia Exhibit 99.1: $111.0 million for the 545-room Fairmont Dallas. April 2025; day-of-month not named. Downtown luxury — exclusive of an estimated $80 million near-term capex. Not a Plano Hyatt Place PPK.

Public filingMorning blotter · 2025–26Issuer filing545 keys

Xenia Hotels & Resorts Exhibit 99.1, fourth quarter and year ended December 31, 2025 (April close; day unnamed)

Morning blotter · public filing or issuer IR. Combined PSAs stay combined. Harbor will not invent a price.

Open the tapeDeal FrameWorksheetMarketSwap sides

Different houses. Do not average PPK across markets or structures.

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
$80.0M

$261,438 / key · 306 keys

Worksheet
$100.9M

$329,788 / key · Harbor defaults

Gap
+26%

Philadelphia · worksheet vs tape PPK

Pebblebrook 8-K: $80.0 million for the 306-room Sofitel Philadelphia at Rittenhouse Square. Center City luxury — not a slice of the Q3 2022 proceeds line.

Public filingHistorical cited · 2022Issuer filing306 keys

Pebblebrook Hotel Trust Form 8-K, August 2, 2022 (press dated August 3)

Historical cited · 2022 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
$111.0M

$203,670 / key · 545 keys

Worksheet
$164.3M

$301,419 / key · Harbor defaults

Gap
+48%

Dallas–Fort Worth · worksheet vs tape PPK

Xenia Exhibit 99.1: $111.0 million for the 545-room Fairmont Dallas. April 2025; day-of-month not named. Downtown luxury — exclusive of an estimated $80 million near-term capex. Not a Plano Hyatt Place PPK.

Public filingMorning blotter · 2025–26Issuer filing545 keys

Xenia Hotels & Resorts Exhibit 99.1, fourth quarter and year ended December 31, 2025 (April close; day unnamed)

Morning blotter · public filing or issuer IR. Combined PSAs stay combined. Harbor will not invent a price.

Open the tapeDeal FrameShock the worksheetCompare tapes