Hotels only · No pay-to-rank · Advice first; verified when attested
Two tapes · no invented prices · Arizona Biltmore
Pick two cited events. Harbor will not allocate a combined PSA into hotel prices. A gap is a question. Not an appraisal.
Jun 8, 2015
The Phoenician · Phoenix / Scottsdale · 643 keys · Luxury
$400.0M
$622,084 / key
Host IR: $400 million for the 643-room resort, including a 27-hole golf course and adjacent land parcels. Not a rooms-only PPK.
Host Hotels & Resorts IR, June 8, 2015
Historical cited · 2015 corpus. Public filing or issuer IR. Combined PSAs stay combined. Harbor will not invent a price.
May 8, 2024
Arizona Biltmore · Phoenix / Scottsdale · 705 keys · Luxury
$705.0M
$1,000,000 / key
Consideration as reported in trade press and CoStar’s May 2024 deed/affidavit read. Confirm the Maricopa affidavit. Not an HVS survey number.
The Real Deal / CoStar, Jan–May 2024 (announced Jan 23; deed read May 8)
News or press — not a filing. Harbor will not invent a confidential consideration.
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.
$622,084 / key · 643 keys
$981,890 / key · Harbor defaults
Phoenix / Scottsdale · worksheet vs tape PPK
Host IR: $400 million for the 643-room resort, including a 27-hole golf course and adjacent land parcels. Not a rooms-only PPK.
Host Hotels & Resorts IR, June 8, 2015
Historical cited · 2015 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.
$1,000,000 / key · 705 keys
$770,276 / key · Harbor defaults
Phoenix / Scottsdale · worksheet vs tape PPK
Consideration as reported in trade press and CoStar’s May 2024 deed/affidavit read. Confirm the Maricopa affidavit. Not an HVS survey number.
The Real Deal / CoStar, Jan–May 2024 (announced Jan 23; deed read May 8)
News or press — not a filing. Harbor will not invent a confidential consideration.