Xenia sold the 545-room Fairmont Dallas in April 2025 for $111.0 million, or approximately $203,670 per key as Xenia rounded it. Harbor uses the first of April rather than inventing a closing day. Harbor PPK is $111.0 million ÷ 545. Use the $111.0 million sale price, not the $101.4 million net cash after costs. Xenia’s 8.6x / 10.0% TTM lines and the estimated $80 million near-term capex are Xenia’s narrative, not a second hotel price. The $39.3 million gain is Xenia’s accounting. Buyer unnamed. Not a Plano Hyatt Place tape and not RLJ’s Dallas Love Field + Houston Galleria $49.5 million pair.
$111.0M
Cited consideration · 545 keys · $204k / key
Xenia Exhibit 99.1: $111.0 million for the 545-room Fairmont Dallas. April 2025; day-of-month not named. Downtown luxury — exclusive of an estimated $80 million near-term capex. Not a Plano Hyatt Place PPK.
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.
Tape
$111.0M
$203,670 / key · 545 keys
Worksheet
$164.3M
$301,419 / key · Harbor defaults
Gap
+48%
Dallas–Fort Worth · worksheet vs tape PPK
Xenia Exhibit 99.1: $111.0 million for the 545-room Fairmont Dallas. April 2025; day-of-month not named. Downtown luxury — exclusive of an estimated $80 million near-term capex. Not a Plano Hyatt Place PPK.
Downtown Dallas Fairmont. Xenia sold the 545-key house in April 2025 for $111.0 million (FY2025 Exhibit 99.1). Day-of-month unnamed — Harbor uses the first of April. Buyer unnamed. Use the $111.0 million sale price, not the $101.4 million net cash. The $80 million near-term capex line is Xenia’s narrative, not a second price. Not a Plano Hyatt Place tape and not Apple’s 2021 Fort Worth Medical Center Garden Inn or Homewood buys.