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Harborby Signalry

Mid-Atlantic · gateway

Washington, D.C.

Government, association, and embassy demand. Height limits and historic fabric make replacement cost a real floor. Hersha’s 2015 St. Gregory Hotel $57.0 million / 155 tape is a named Dupont Circle buy — not Park’s 2020 Embassy Suites Washington DC Georgetown $90.4 million / 197 tape, not Hersha’s 2015 Ritz-Carlton Georgetown $50.0 million / 86 tape, not Hersha’s 2016 Hilton Garden Inn M Street $106.5 million / 238 tape, not Hersha’s 2011 Capitol Hill Suites $47.5 million / 152 tape, not Hersha’s 2010 Hampton Inn Washington, D.C. $73.096 million / 228 tape, and not Hersha’s 2018 Hyatt House Gaithersburg $19.0 million / 140 tape. Hersha’s 2010 Hampton Inn Washington, D.C. is a named Washington Hampton Inn — not that Capitol Hill boutique, not that St. Gregory Dupont Circle PPK, not that Georgetown Ritz-Carlton, and not that M Street Garden Inn. Harbor will not invent a Massachusetts Avenue, Convention Center, or Union Station lock. Hersha’s Capitol Hill Suites is a named Capitol Hill boutique buy — not that Washington Hampton Inn, not that St. Gregory Dupont Circle PPK, not that Georgetown Ritz-Carlton, not that M Street Garden Inn, and not Park’s Georgetown Embassy. Hersha’s Georgetown Ritz-Carlton is a named Georgetown Ritz-Carlton buy — not that St. Gregory Dupont Circle PPK, not that M Street Garden Inn, not Park’s Georgetown Embassy, and not Hersha’s 2017 Ritz-Carlton Coconut Grove $36.0 million / 115 tape. Hersha’s M Street Garden Inn is a named M Street Garden Inn buy — not that St. Gregory Dupont Circle PPK and not that Georgetown Ritz-Carlton. Park’s Georgetown Embassy is a named Georgetown Embassy — not DiamondRock’s Westin Washington D.C. City Center $92.0 million tape and not Xenia’s 2024 Lorien Hotel & Spa $30.0 million Old Town tape. Hersha’s Gaithersburg Hyatt House is a named suburban Maryland Hyatt House — not that Georgetown Embassy PPK. Xenia’s Lorien is Old Town Alexandria — not a City Center Westin and not that Georgetown Embassy PPK. Pebblebrook’s 2019 Palomar $141.5 million, Liaison Capitol Hill $111.0 million, Rouge $42.0 million, Hotel Madera $23.3 million / 82, and Topaz $33.1 million tapes are named DC singles — not Fairmont Dallas $111.0 million, not Sunstone’s 2018 Marriott Tysons Corner $87.5 million / 396 tape, and not a slice of the $331.0 million InterContinental Buckhead + Sofitel Lafayette Square line, which stays combined. Apple’s 2024 AC Hotel Washington DC Convention Center $116.804 million / 234 tape is a named Convention Center single — not Topaz, not Palomar, and not Madera. Apple’s 2017 Marriott Fairfax $41.5 million / 316 tape, Sunstone’s Tysons Marriott, and Hersha’s 2006 Residence Inn Tyson’s Corner $20.1 million / 96 tape live on their own Northern Virginia market — not a downtown convention PPK.

Hotels
19
Graph events
18
Cited prices
15
Desks
5

Hotels

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

Washington, D.C. · Upper upscale

Washington Marriott at Metro Center

454 keys · Washington · Marriott

Metro Center full-service. Host sold it in 2025 with The Westin Cincinnati for $237 million combined and provided $114 million seller financing on this house (Host FY2025 results). Harbor does not split the $237 million. 454 keys is the deed/trade-press count, not a Host-allocated tape.

Washington, D.C. · Upper upscale

Westin Washington D.C. City Center

410 keys · Washington · Westin

Downtown City Center Westin. DiamondRock sold the 410-key house on February 19, 2025 for $92.0 million (FY2025 Exhibit 99.1). Buyer unnamed. Not Park’s 2020 Embassy Suites Washington DC Georgetown $90.4 million / 197 tape. Courtyard Fifth Avenue is a later, separate leasehold tape.

Washington, D.C. · Upper upscale

Lorien Hotel & Spa

107 keys · Alexandria · Lorien Hotel & Spa

Old Town Alexandria boutique. Xenia closed the 107-key house on July 9, 2024 for $30.0 million (Q2 2024 10-Q). Buyer unnamed. Use the $30.0 million sale price, not the $29.1 million net. Not DiamondRock’s Westin Washington D.C. City Center $92.0 million tape and not a Georgetown palace PPK.

Washington, D.C. · Upscale

Rouge Hotel

137 keys · Washington · Kimpton

Dupont Circle boutique. Pebblebrook closed the 137-key house on September 12, 2019 for $42.0 million (8-K). Buyer unnamed. Not Hotel Madera $23.3 million, not Hotel Palomar Washington $141.5 million, not Liaison Capitol Hill $111.0 million, not Topaz $33.1 million, and not a slice of the $331.0 million InterContinental Buckhead + Sofitel Lafayette Square line.

Washington, D.C. · Upscale

Hotel Madera

82 keys · Washington · Kimpton

Dupont Circle Kimpton boutique. Pebblebrook closed the 82-key house on September 26, 2019 for $23.3 million (8-K). Buyer unnamed. Not Rouge $42.0 million, not Topaz $33.1 million, not Hotel Palomar Washington $141.5 million, not Liaison Capitol Hill $111.0 million, and not a slice of the $331.0 million InterContinental Buckhead + Sofitel Lafayette Square line.

Washington, D.C. · Upper upscale

Hotel Palomar Washington, DC

335 keys · Washington · Hotel Palomar

Downtown DC Kimpton. Pebblebrook closed the 335-key house on February 22, 2019 for $141.5 million (8-K Exhibit 99.1). Buyer unnamed. Not Hotel Madera $23.3 million, not Liaison Capitol Hill $111.0 million, not Rouge $42.0 million, not Topaz $33.1 million, and not a slice of the $331.0 million InterContinental Buckhead + Sofitel Lafayette Square line. The $252.5 million Palomar + Liaison proceeds line is the sum of two named 8-K prices.

Washington, D.C. · Upper upscale

The Liaison Capitol Hill

343 keys · Washington · Liaison

Capitol Hill box. Pebblebrook closed the 343-key house on February 14, 2019 for $111.0 million (8-K Exhibit 99.1). Buyer unnamed. Not Hotel Madera $23.3 million, not Xenia’s Fairmont Dallas $111.0 million tape, not Hotel Palomar Washington $141.5 million, not Topaz $33.1 million, and not a slice of the $331.0 million InterContinental Buckhead + Sofitel Lafayette Square line.

Washington, D.C. · Upscale

Topaz Hotel

99 keys · Washington · Kimpton

Dupont Circle Kimpton boutique. Pebblebrook closed the 99-key house on November 22, 2019 for $33.1 million (8-K Exhibit 99.1). Buyer unnamed. Not Hotel Madera $23.3 million, not Hotel Palomar Washington $141.5 million, not Liaison Capitol Hill $111.0 million, not Rouge $42.0 million, and not a slice of the $331.0 million InterContinental Buckhead + Sofitel Lafayette Square line.

Washington, D.C. · Upscale

AC Hotel Washington DC Convention Center

234 keys · Washington · AC Hotel

Convention Center AC. Apple bought the existing 234-key house on March 25, 2024 for $116.804 million (2024 10-K table). Seller unnamed. Not Topaz $33.1 million, not Palomar $141.5 million, not Liaison $111.0 million, and not Xenia’s Lorien $30.0 million tape. The $196.32 million 2024 line is the sum of two named 10-K prices.

Washington, D.C. · Upper upscale

Embassy Suites Washington DC Georgetown

197 keys · Washington · Embassy Suites

Georgetown Embassy Suites. Park sold the 197-key house in February 2020 for $90.4 million gross proceeds (Q2 2020 supplemental sold table). Buyer unnamed. Harbor uses the first of February rather than inventing a closing day. Filing names Washington, D.C. — Harbor will not invent a West End lock. Not DiamondRock’s Westin Washington D.C. City Center $92.0 million tape and not Xenia’s Lorien $30.0 million Old Town tape.

Washington, D.C. · Upscale

Hyatt House Gaithersburg

140 keys · Gaithersburg · Hyatt House

Suburban Maryland Hyatt House. Hersha sold the 140-key house on February 16, 2018 for $19.0 million (Q4 2017 Exhibit 99.1 subsequent event). Buyer unnamed. Filing names Gaithersburg — Harbor will not invent a Rockville or Bethesda lock. Not Park’s 2020 Embassy Suites Washington DC Georgetown $90.4 million / 197 tape.

Washington, D.C. · Independent / boutique

St. Gregory Hotel

155 keys · Washington · St. Gregory Hotel

Dupont Circle independent. Hersha bought the 155-key house in June 2015 for $57.0 million (Q2 2015 8-K earnings release). Harbor uses the first of June rather than inventing a closing day. Seller unnamed. Filing names Dupont Circle — Harbor will not invent a Georgetown lock. Use the $57.0 million hotel price, not the $25.8 million assumed loan. Not Park’s 2020 Embassy Suites Washington DC Georgetown $90.4 million / 197 tape and not Hersha’s 2018 Hyatt House Gaithersburg $19.0 million / 140 tape.

Washington, D.C. · Luxury

Ritz-Carlton Georgetown

86 keys · Washington · Ritz-Carlton

Georgetown Ritz-Carlton. Hersha bought the 86-key house in late December 2015 for $50.0 million (Q4 2015 Exhibit 99.1). Harbor uses the first of December rather than inventing a closing day. Seller unnamed. Filing names Georgetown — Harbor will not invent a Dupont Circle lock. Not Park’s 2020 Embassy Suites Washington DC Georgetown $90.4 million / 197 tape, not Hersha’s 2015 St. Gregory Hotel $57.0 million / 155 tape, and not Hersha’s 2017 Ritz-Carlton Coconut Grove $36.0 million / 115 tape.

Washington, D.C. · Upscale

Hilton Garden Inn M Street

238 keys · Washington · Hilton Garden Inn

M Street Garden Inn. Hersha bought the 238-key house on March 9, 2016 for $106.5 million (Q1 2016 Exhibit 99.1). Seller unnamed. Filing names M Street — Harbor will not invent a Georgetown lock. The February 4 and February 16 papers’ M Street lines are contracts, not closes. Use the $106.5 million hotel price, not the 10-Q $106.597 million allocation. Not Hersha’s 2015 St. Gregory Hotel $57.0 million / 155 tape, not Hersha’s 2015 Ritz-Carlton Georgetown $50.0 million / 86 tape, and not Park’s 2020 Embassy Suites Washington DC Georgetown $90.4 million / 197 tape.

Washington, D.C. · Independent / boutique

Capitol Hill Suites

152 keys · Washington · Capitol Hill Suites

Capitol Hill boutique. Hersha bought the 152-key house on April 15, 2011 for $47.5 million (May 5, 2011 Exhibit 99.1). Seller unnamed. Filing names Capitol Hill — Harbor will not invent a Georgetown lock. Use the $47.5 million hotel price, not the $32.5 million assumed mortgage and not the 10-Q $47.754 million allocation. Not Hersha’s 2010 Hampton Inn Washington, D.C. $73.096 million / 228 tape, not Hersha’s 2015 St. Gregory Hotel $57.0 million / 155 tape, not Hersha’s 2015 Ritz-Carlton Georgetown $50.0 million / 86 tape, not Hersha’s 2016 Hilton Garden Inn M Street $106.5 million / 238 tape, and not Park’s 2020 Embassy Suites Washington DC Georgetown $90.4 million / 197 tape.

Washington, D.C. · Upper midscale

Hampton Inn Washington, D.C.

228 keys · Washington · Hampton Inn

Washington Hampton Inn. Hersha bought the 228-key house on September 1, 2010 for $73.096 million (Q3 2010 10-Q). Seller unnamed — an unrelated third party. Filing names Washington, DC — Harbor will not invent a Massachusetts Avenue, Convention Center, or Union Station lock. Use the $73.096 million hotel price, not the $1,188 closing-cost add-on and not a prospectus or trade-press $73.0 million / $320,000 per key line. Do not stitch the October 2010 424B5. Not Hersha’s 2011 Capitol Hill Suites $47.5 million / 152 tape, not Hersha’s 2015 St. Gregory Hotel $57.0 million / 155 tape, and not Hersha’s 2018 Hampton Inn Financial District $32.4 million / 81 tape.

Desks covering this market

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Public tape · 2 events

Transactions

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Morning blotterCompare a cited single

Public filingDec 1, 2015

Ritz-Carlton Georgetown — Hersha acquisition

Ritz-Carlton Georgetown · 86 keys · Luxury

Consideration

$50.0M

$581k / key

Hersha Exhibit 99.1: $50.0 million for the 86-room Ritz-Carlton Georgetown. Georgetown Ritz-Carlton — not a Dupont Circle independent PPK.

Hersha Hospitality Trust Exhibit 99.1, February 16, 2016 (late December 2015 close)

Hersha acquired the 86-room Ritz-Carlton Georgetown in Washington, DC in late December 2015 for $50.0 million. Harbor uses the first of December rather than inventing a closing day. Harbor PPK is $50.0 million ÷ 86. Hersha rounded the same math to $581,000 per key. The same Exhibit 99.1 names late December with the 86 rooms and that hotel price, and the acquisitions paragraph names the 86 rooms and that hotel price again. Hersha’s 8.0%–8.5% unlevered yield line is Hersha’s narrative, not a second hotel price. Seller unnamed. Filing names Georgetown — Harbor will not invent a Dupont Circle lock. Hilton Garden Inn M Street stays off — that line is a contract. Hotel Oceana stays off until a filing names keys with a hotel price. Holiday Inn Express Chester stays off until a filing names a calendar month, a hotel price, and keys together. Hyatt Place King of Prussia stays off until one paper names month, a hotel price, and keys together. Hersha’s November 2016 Residence Inn Framingham plus Residence Inn Norwood $47.0 million line stays combined. Hersha’s January 2017 Courtyard Alexandria plus Residence Inn Greenbelt $62.0 million line stays combined. Hersha’s June 8, 2017 three Hyatt House $130.5 million line stays combined. Hersha’s 2021 four-hotel $178.5 million line and August 2022 six-pack $435.9 million stay combined. Not Park’s 2020 Embassy Suites Washington DC Georgetown $90.4 million / 197 tape, not Hersha’s 2015 St. Gregory Hotel $57.0 million / 155 tape, and not Hersha’s 2017 Ritz-Carlton Coconut Grove $36.0 million / 115 tape. Older than the 2025–26 blotter cut.

Open the tape →FramePacketEstimateWashington, D.C.Compare

Public filingJun 1, 2015

St. Gregory Hotel — Hersha acquisition

St. Gregory Hotel · 155 keys · Independent / boutique

Consideration

$57.0M

$368k / key

Hersha Q2 2015 8-K: $57.0 million for the 155-room St. Gregory Hotel & Suites in Washington, DC. Dupont Circle independent — not a Georgetown Embassy PPK.

Hersha Hospitality Trust Form 8-K / Q2 2015 earnings release, July 28, 2015 (June 2015 close)

Hersha acquired the 155-room St. Gregory Hotel & Suites in Washington, DC in June 2015 for $57.0 million. Harbor uses the first of June rather than inventing a closing day. Harbor PPK is $57.0 million ÷ 155. The same 8-K names June, the 155 rooms, and that hotel price. Use the $57.0 million hotel price, not the $25.8 million assumed loan. Hersha’s 7.0% economic capitalization rate and 12.9x EBITDA lines are Hersha’s narrative, not a second hotel price. Seller unnamed. Filing names Dupont Circle — Harbor will not invent a Georgetown lock. Holiday Inn Express Chester stays off until a filing names a calendar month, a hotel price, and keys together. Hyatt Place King of Prussia stays off until one paper names month, a hotel price, and keys together. Hersha’s November 2016 Residence Inn Framingham plus Residence Inn Norwood $47.0 million line stays combined. Hersha’s January 2017 Courtyard Alexandria plus Residence Inn Greenbelt $62.0 million line stays combined. Hersha’s June 8, 2017 three Hyatt House $130.5 million line stays combined. Hersha’s 2021 four-hotel $178.5 million line and August 2022 six-pack $435.9 million stay combined. Not Park’s 2020 Embassy Suites Washington DC Georgetown $90.4 million / 197 tape and not Hersha’s 2018 Hyatt House Gaithersburg $19.0 million / 140 tape. Older than the 2025–26 blotter cut.

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