Hotels only · No pay-to-rank · Advice first; verified when attested
Two tapes · no invented prices · Sofitel Philadelphia at Rittenhouse Square
Pick two cited events. Harbor will not allocate a combined PSA into hotel prices. A gap is a question. Not an appraisal.
Mar 29, 2022
W Nashville · Nashville · 346 keys · Luxury
$328.7M
$949,711 / key
Xenia 8-K Exhibit 99.1: $328.7 million for the 346-key W Nashville. Gulch W — not a Motto Nashville PPK and not a 21c PPK.
Xenia Hotels & Resorts Form 8-K Exhibit 99.1, March 29, 2022 (closed March 29)
Historical cited · 2022 corpus. Public filing or issuer IR. Combined PSAs stay combined. Harbor will not invent a price.
Aug 2, 2022
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.
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.
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.
$949,711 / key · 346 keys
$695,418 / key · Harbor defaults
Nashville · worksheet vs tape PPK
Xenia 8-K Exhibit 99.1: $328.7 million for the 346-key W Nashville. Gulch W — not a Motto Nashville PPK and not a 21c PPK.
Xenia Hotels & Resorts Form 8-K Exhibit 99.1, March 29, 2022 (closed March 29)
Historical cited · 2022 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.
$261,438 / key · 306 keys
$329,788 / key · Harbor defaults
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.
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.