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Harborby Signalry
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West · gateway

San Francisco

A recovery market. Historic palaces and union houses still trade; underwriting must name weekday group and tech transient separately. The 2026 Embarcadero Hyatt Regency sale is a convention atrium tape — not Nob Hill, not Pebblebrook’s 2021 Villa Florence $87.5 million Union Square tape, not the 2022 Marker $77.0 million or Spero $71.0 million tapes, not the 2023 Hotel Zoe $68.5 million Wharf tape, and not an airport Four Points.

Hotels
10
Graph events
11
Cited prices
9
Desks
2

Hotels

Each house opens a labeled estimate. Defaults are assumptions — not an appraisal.

San Francisco · Upper upscale

Hyatt Regency San Francisco

821 keys · San Francisco · Hyatt Regency

Embarcadero convention atrium, not a Nob Hill palace and not the $80 million Wharf Centric. Sunstone sold the 821-key house on July 30, 2026 for $279 million gross to funds affiliated with Blackstone (Exhibit 99.1). Sunstone’s ~$340,000/key line is their rounding; Harbor PPK is $279 million ÷ 821.

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San Francisco · Upscale

Four Points San Francisco Airport

101 keys · San Francisco · Four Points by Sheraton

Airport Four Points. Summit sold the 101-key house in October 2024 for $17.7 million (FY2024 Exhibit 99.1 sold table). Day unnamed — Harbor uses the first of October. Buyer unnamed. Summit marked the cap-rate N/M because NOI was de minimis — that is Summit’s narrative, not a second price. Not the $279 million Embarcadero Hyatt Regency and not the $80 million Wharf Centric.

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San Francisco · Upscale

Hotel Zoe Fisherman’s Wharf

221 keys · San Francisco · Hotel Zoe

Fisherman’s Wharf boutique. Pebblebrook closed the 221-key house on November 14, 2023 for $68.5 million (8-K). Buyer unnamed — Harbor will not invent a desk from trade press. Not The Marker San Francisco $77.0 million (2022), not Hotel Spero $71.0 million (2022), not Park’s 2025 Hyatt Centric Wharf $80 million tape, and not Sunstone’s $279 million Embarcadero Hyatt Regency.

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San Francisco · Upscale

The Marker San Francisco

208 keys · San Francisco · The Marker

Union Square boutique. Pebblebrook closed the 208-key house on June 28, 2022 for $77.0 million (8-K). Buyer unnamed. Not Hotel Spero $71.0 million, not Hotel Zoe Fisherman’s Wharf $68.5 million (2023), and not Sunstone’s $279 million Embarcadero Hyatt Regency.

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San Francisco · Upscale

Hotel Spero

236 keys · San Francisco · Hotel Spero

Union Square boutique. Pebblebrook closed the 236-key house on August 25, 2022 for $71.0 million (8-K). Buyer unnamed. Not The Marker San Francisco $77.0 million, not Hotel Zoe Fisherman’s Wharf $68.5 million (2023), and not Sunstone’s $279 million Embarcadero Hyatt Regency.

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Desks covering this market

Public coverage lists, not a claimed book. Open a desk for the graph timeline.

Public tape · 2 events

Transactions

Cited prices stay cited. Unknown stays unknown. Linked houses open the estimate worksheet.

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All years20262025202420232022202120152014
Public filingOct 1, 2024

Four Points San Francisco Airport — Summit disposition

Four Points San Francisco Airport · 101 keys · Upscale

Consideration

$17.7M

$175k / key

Summit Exhibit 99.1 sold table: $17.7 million for the 101-guestroom Four Points San Francisco Airport. October 2024; day-of-month not named. Airport box — not an Embarcadero or Wharf PPK.

Summit Hotel Properties Exhibit 99.1, year ended Dec 31, 2024 (October 2024 close; day unnamed)

Summit sold the 101-guestroom Four Points San Francisco Airport in October 2024 for $17.7 million. Harbor uses the first of October rather than inventing a closing day. Harbor PPK is $17.7 million ÷ 101. Buyer unnamed. Summit marked the cap-rate N/M because hotel NOI at sale was de minimis — that is Summit’s narrative, not a second price. Not Sunstone’s $279 million Embarcadero Hyatt Regency and not Park’s $80 million Wharf Centric. Older than the 2025–26 blotter cut.

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