Hotels only · No pay-to-rank · Advice first; verified when attested
Two tapes · no invented prices · SpringHill Suites Sanford
Pick two cited events. Harbor will not allocate a combined PSA into hotel prices. A gap is a question. Not an appraisal.
Jan 16, 2020
SpringHill Suites Sanford · Sanford · 105 keys · Upscale
$13.0M
$123,810 / key
Apple 2019 10-K: $13.0 million gross for the 105-room Sanford, Florida SpringHill Suites. Seminole County select-service — not an Orlando convention PPK.
Apple Hospitality REIT Form 10-K, year ended December 31, 2019 (sold January 16, 2020)
Historical cited · 2020 corpus. 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.
$123,810 / key · 105 keys
$140,082 / key · Harbor defaults
Sanford · worksheet vs tape PPK
Apple 2019 10-K: $13.0 million gross for the 105-room Sanford, Florida SpringHill Suites. Seminole County select-service — not an Orlando convention PPK.
Apple Hospitality REIT Form 10-K, year ended December 31, 2019 (sold January 16, 2020)
Historical cited · 2020 corpus. 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.