Washington, D.C. · Luxury
The Hay-Adams
145 keys · Washington
White House-adjacent independent. A hold more often than a trade.
Public tape · 251 of 282 · 2014
Jan 1, 2014
The Hay-Adams — independent hold
White House-adjacent independent. Hold. Replacement cost is the conversation.
Not disclosed
Unknown on purpose — Harbor will not invent a confidential price · 145 keys
Consideration not disclosed145 keys
News or press — not a filing. Harbor will not invent a confidential consideration.
Deal FrameLiving packetLabeled estimateCompare this tape2014 cited corpus
- Corpus
- Historical cited · 2014
- Keys at tape
- 145
- Segment
- Luxury
- Market
- Washington, D.C.
- Hotel
- The Hay-Adams
- Buyer
- —
- Seller
- —
Source
Property public site
https://www.hayadams.comDesks on the graph
Attached when a press release or public pattern names the firm. Not an unpublished book.
Estimate ↔ tape
The worksheet next to the filing
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
- Not disclosed
- Worksheet
- $156.8M
- Gap
- —
145 keys
$1,081,522 / key · Harbor defaults
Washington, D.C. · worksheet vs tape PPK
Consideration not disclosed145 keys
News or press — not a filing. Harbor will not invent a confidential consideration.
The house
Run the labeled estimate
Worksheet, not an appraisal. Shock cap ±50 bps and ADR ±10% before you treat any number as a bid.
Same house or same market · 3
Related public tapes
Same hotel first, then the same market and segment. Structure footnotes stay on the tape. This is not a paid comps service.
Consideration not disclosedMar 1, 2019
The Jefferson, Washington, D.C. — small luxury commentary
The Jefferson, Washington, D.C. · 99 keys · Luxury
Consideration
Not disclosed
Sub-100-key luxury. Public comps are scarce. Price unknown.
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.
Consideration not disclosedJan 1, 2009
The Greenbrier — Justice family hold
The Greenbrier · 710 keys · Luxury
Consideration
Not disclosed
Property public site / public ownership coverage
Public ownership story. Not a conventional urban hotel sale.