Hotels only · No pay-to-rank · Advice first; verified when attested
Public tape · 50 of 282 · 2024
Apple acquired the 262-room Embassy Suites Madison Downtown on June 20, 2024 for a $79.516 million gross purchase price. Harbor PPK is $79.516 million ÷ 262. Apple rounded the same math to about $303,000 per key. Use the table price, not the $79.5 million 8-K round. Seller unnamed. Not the Garden Inn $49.599 million tape. The $196.32 million 2024 line is the sum of two named 10-K prices. Older than the 2025–26 blotter cut.
$79.5M
Cited consideration · 262 keys · $303k / key
Apple 2024 10-K table: $79.516 million for the 262-room Embassy Suites Madison Downtown. Downtown Embassy — not a Garden Inn PPK.
Apple Hospitality REIT Form 10-K for the year ended December 31, 2024 (closed June 20)
Historical cited · 2024 corpus. Public filing or issuer IR. Combined PSAs stay combined. Harbor will not invent a price.
Deal FrameLiving packetLabeled estimateCompare this tape2024 cited corpus2024 cited filingsApple · 2024 filings
Source
Apple Hospitality REIT Form 10-K for the year ended December 31, 2024 (closed June 20)
https://www.sec.gov/Archives/edgar/data/1418121/000095017025025638/aple-20241231.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.
$303,496 / key · 262 keys
$248,928 / key · Harbor defaults
Madison · worksheet vs tape PPK
Apple 2024 10-K table: $79.516 million for the 262-room Embassy Suites Madison Downtown. Downtown Embassy — not a Garden Inn PPK.
Apple Hospitality REIT Form 10-K for the year ended December 31, 2024 (closed June 20)
Historical cited · 2024 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.
Madison · Upper upscale
262 keys · Madison · Embassy Suites
Downtown Madison Embassy. Apple bought the newly built 262-key house on June 20, 2024 for $79.516 million (2024 10-K table). Seller unnamed. Not the Garden Inn $49.599 million tape. The $196.32 million 2024 line is the sum of two named 10-K prices.