Hotels only · No pay-to-rank · Advice first; verified when attested
Public tape · 73 of 282 · 2023
Apple acquired the existing 175-room Courtyard Salt Lake City Downtown on October 11, 2023 for a $48.11 million gross purchase price. Harbor PPK is $48.11 million ÷ 175. Apple rounded the same math to about $275,000 per key. Use the table price, not the $48.1 million 8-K round. Seller unnamed. Adjacent to the Hyatt House. Not the South Jordan Embassy $36.75 million tape. The $9.14 million garage is not a hotel tape. Older than the 2025–26 blotter cut.
$48.1M
Cited consideration · 175 keys · $275k / key
Apple 2023 10-K table: $48.11 million for the existing 175-room downtown Courtyard. Downtown Courtyard — not a South Jordan Embassy PPK.
Apple Hospitality REIT Form 10-K for the year ended December 31, 2023 (closed October 11)
Historical cited · 2023 corpus. Public filing or issuer IR. Combined PSAs stay combined. Harbor will not invent a price.
Deal FrameLiving packetLabeled estimateCompare this tape2023 cited corpus2023 cited filingsApple · 2023 filings
Source
Apple Hospitality REIT Form 10-K for the year ended December 31, 2023 (closed October 11)
https://www.sec.gov/Archives/edgar/data/1418121/000095017024018793/aple-20231231.htmEstimate ↔ 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.
$274,914 / key · 175 keys
$203,130 / key · Harbor defaults
Salt Lake City · worksheet vs tape PPK
Apple 2023 10-K table: $48.11 million for the existing 175-room downtown Courtyard. Downtown Courtyard — not a South Jordan Embassy PPK.
Apple Hospitality REIT Form 10-K for the year ended December 31, 2023 (closed October 11)
Historical cited · 2023 corpus. Public filing or issuer IR. Combined PSAs stay combined. Harbor will not invent a price.
The house
Worksheet, not an appraisal. Shock cap ±50 bps and ADR ±10% before you treat any number as a bid.
Salt Lake City · Upscale
175 keys · Salt Lake City · Courtyard by Marriott
Downtown Salt Lake Courtyard. Apple bought the existing 175-key house on October 11, 2023 for $48.11 million (2023 10-K table). Seller unnamed. Adjacent to the Hyatt House. Not the South Jordan Embassy $36.75 million tape. The $9.14 million garage is not a hotel tape.
Same house or same market · 2
Same hotel first, then the same market and segment. Structure footnotes stay on the tape. This is not a paid comps service.
Hyatt House Salt Lake City/Downtown · 159 keys · Upscale
Consideration
$34.3M
$215k / key
Apple 2023 10-K table: $34.25 million for the existing 159-room downtown Hyatt House. Downtown extended-stay — not a downtown Courtyard PPK.
Apple Hospitality REIT Form 10-K for the year ended December 31, 2023 (closed October 11)
Apple acquired the existing 159-room Hyatt House Salt Lake City/Downtown on October 11, 2023 for a $34.25 million gross purchase price. Harbor PPK is $34.25 million ÷ 159. Apple rounded the same math to about $215,000 per key. Use the table price, not the $34.3 million 8-K round. Seller unnamed. Adjacent to the Courtyard. Not the South Jordan Embassy $36.75 million tape. The $9.14 million garage is not a hotel tape. Older than the 2025–26 blotter cut.
Residence Inn Salt Lake City · 136 keys · Upscale
Consideration
$25.5M
$188k / key
Apple 2017 10-K table: $25.500 million for the existing 136-room Residence Inn Salt Lake City. Salt Lake Residence Inn — not a downtown Courtyard PPK.
Apple Hospitality REIT Form 10-K for the year ended December 31, 2017 (closed October 20)
Apple acquired the existing 136-room Residence Inn Salt Lake City on October 20, 2017 for a $25.500 million gross purchase price. Harbor PPK is $25.500 million ÷ 136. That math is $187,500 per key. Use the table price, not transaction costs. Seller unnamed. Table city is Salt Lake City — Harbor will not invent a suburb. Not the 2023 downtown Courtyard $48.11 million tape and not the Hyatt House $34.25 million tape. The $161.770 million 2017 line is the sum of six named 10-K prices. The Birmingham adjoining dual-brand 2017 line stays combined. Older than the 2025–26 blotter cut.