Hotels only · No pay-to-rank · Advice first; verified when attested
Public tape · 171 of 282 · 2019
Pebblebrook closed the 82-room Hotel Madera in Washington, D.C. on September 26, 2019 for $23.3 million to an unaffiliated third party. Harbor PPK is $23.3 million ÷ 82. Rooms sit with that named price in the same 8-K. Use the $23.3 million 8-K price, not a later $23.25 million table round. Buyer unnamed — Harbor will not invent a desk from trade press. Pebblebrook’s 14.3x / 5.7% 2018 lines are Pebblebrook’s narrative, not a second hotel price. 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. Older than the 2025–26 blotter cut.
$23.3M
Cited consideration · 82 keys · $284k / key
Pebblebrook 8-K: $23.3 million for the 82-room Hotel Madera in Washington, D.C. Dupont Circle boutique — not a Palomar PPK and not a Lafayette Square slice.
Pebblebrook Hotel Trust Form 8-K, September 26, 2019 (closed September 26)
Historical cited · 2019 corpus. Public filing or issuer IR. Combined PSAs stay combined. Harbor will not invent a price.
Deal FrameLiving packetLabeled estimateCompare this tape2019 cited corpus2019 cited filings
Source
Pebblebrook Hotel Trust Form 8-K, September 26, 2019 (closed September 26)
https://www.sec.gov/Archives/edgar/data/1474098/000147409819000092/peb8-kmaderasaleandrel.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.
$284,146 / key · 82 keys
$293,570 / key · Harbor defaults
Washington, D.C. · worksheet vs tape PPK
Pebblebrook 8-K: $23.3 million for the 82-room Hotel Madera in Washington, D.C. Dupont Circle boutique — not a Palomar PPK and not a Lafayette Square slice.
Pebblebrook Hotel Trust Form 8-K, September 26, 2019 (closed September 26)
Historical cited · 2019 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.
Washington, D.C. · Upscale
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.
Same house or same market · 5
Same hotel first, then the same market and segment. Structure footnotes stay on the tape. This is not a paid comps service.
AC Hotel Washington DC Convention Center · 234 keys · Upscale
Consideration
$116.8M
$499k / key
Apple 2024 10-K table: $116.804 million for the existing 234-room AC Hotel Washington DC Convention Center. Convention Center AC — not a Dupont boutique PPK.
Apple Hospitality REIT Form 10-K for the year ended December 31, 2024 (closed March 25)
Apple acquired the existing 234-room AC Hotel Washington DC Convention Center on March 25, 2024 for a $116.804 million gross purchase price. Harbor PPK is $116.804 million ÷ 234. Apple rounded the same math to about $499,000 per key. Use the table price, not the $116.8 million 8-K round. 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. Older than the 2025–26 blotter cut.
Topaz Hotel · 99 keys · Upscale
Consideration
$33.1M
$334k / key
Pebblebrook 8-K Exhibit 99.1: $33.1 million for the 99-room Topaz Hotel in Washington, D.C. Dupont Circle boutique — not a Palomar PPK and not a Lafayette Square slice.
Pebblebrook Hotel Trust Form 8-K Exhibit 99.1, November 25, 2019 (closed November 22)
Pebblebrook closed the 99-room Topaz Hotel in Washington, D.C. on November 22, 2019 for $33.1 million to a third party. Harbor PPK is $33.1 million ÷ 99. Buyer unnamed. Pebblebrook’s 19.5x / 4.4% 2018 lines are Pebblebrook’s narrative, not a second hotel price. 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. Older than the 2025–26 blotter cut.
Rouge Hotel · 137 keys · Upscale
Consideration
$42.0M
$307k / key
Pebblebrook 8-K: $42.0 million for the 137-room Rouge Hotel in Washington, D.C. Dupont Circle boutique — not a Palomar PPK and not a Lafayette Square slice.
Pebblebrook Hotel Trust Form 8-K, September 12, 2019 (press dated September 12)
Pebblebrook closed the 137-room Rouge Hotel in Washington, D.C. on September 12, 2019 for $42.0 million to a third party. Harbor PPK is $42.0 million ÷ 137. Buyer unnamed. Pebblebrook’s 17.4x / 5.0% 2018 lines are Pebblebrook’s narrative, not a second hotel price. 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. Older than the 2025–26 blotter cut.
Hyatt House Gaithersburg · 140 keys · Upscale
Consideration
$19.0M
$136k / key
Hersha Exhibit 99.1: $19.0 million for the 140-room Hyatt House in Gaithersburg, MD. Suburban Maryland Hyatt House — not a Georgetown Embassy PPK.
Hersha Hospitality Trust Exhibit 99.1, February 21, 2018 (February 16, 2018 close)
Hersha sold the 140-room Hyatt House in Gaithersburg, MD on February 16, 2018 for $19.0 million. Harbor PPK is $19.0 million ÷ 140. Hersha rounded the same math to $136,000 per key. The same subsequent-events paragraph names the completed sale, the 140 rooms, and that hotel price. Buyer unnamed. Filing names Gaithersburg — Harbor will not invent a Rockville or Bethesda lock. Holiday Inn Express Chester stays off until a filing names a calendar month, a hotel price, and keys together. Hersha’s January 2017 Courtyard Alexandria plus Residence Inn Greenbelt $62.0 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 Hampton Inn Financial District $32.4 million / 81 tape. Older than the 2025–26 blotter cut.
Hilton Garden Inn M Street · 238 keys · Upscale
Consideration
$106.5M
$447k / key
Hersha Exhibit 99.1: $106.5 million for the 238-room Hilton Garden Inn M Street. M Street Garden Inn — not a Dupont Circle independent PPK and not a Georgetown Ritz-Carlton PPK.
Hersha Hospitality Trust Exhibit 99.1, April 28, 2016 (March 9, 2016 close)
Hersha acquired the 238-room Hilton Garden Inn M Street on March 9, 2016 for $106.5 million. Harbor PPK is $106.5 million ÷ 238. The same Exhibit 99.1 names March 9, the 238 rooms, and that hotel price. Use the $106.5 million hotel price, not the 10-Q $106.597 million allocation. 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. Hotel Oceana stays off until a filing names keys with a hotel price. TownePlace Suites Sunnyvale stays off until one paper names a calendar month, a hotel price, and keys together. 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. The Cindat seven-hotel Manhattan line stays combined. 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. Older than the 2025–26 blotter cut.