Hotels only · No pay-to-rank · Advice first; verified when attested
Public tape · 16 of 282 · 2025
Apple opened and acquired the newly constructed 260-room Motto by Hilton Nashville Downtown on December 22, 2025 for approximately $98.2 million, or $378,000 per key as Apple rounded it. Harbor PPK is $98.2 million ÷ 260. Fixed-price take-out ahead of development is Apple’s narrative. Not a slice of Host’s $530 million 1 Hotel + Embassy Suites complex — Harbor does not invent that allocation.
$98.2M
Cited consideration · 260 keys · $378k / key
Apple IR: approximately $98.2 million for the 260-room new-build Motto. Rooms-focused — not a 1 Hotel lifestyle PPK.
Apple Hospitality REIT Exhibit 99.1, December 22, 2025
Morning blotter · public filing or issuer IR. Combined PSAs stay combined. Harbor will not invent a price.
Deal FrameLiving packetLabeled estimateCompare this tapeMorning blotterSelect blotterFilings blotterApple blotter
Source
Apple Hospitality REIT Exhibit 99.1, December 22, 2025
https://www.sec.gov/Archives/edgar/data/1418121/000119312525327827/aple-ex99_1.htmDesks on the graph
Attached when a press release or public pattern names the firm. Not an unpublished book.
Estimate ↔ 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.
$377,692 / key · 260 keys
$308,585 / key · Harbor defaults
Nashville · worksheet vs tape PPK
Apple IR: approximately $98.2 million for the 260-room new-build Motto. Rooms-focused — not a 1 Hotel lifestyle PPK.
Apple Hospitality REIT Exhibit 99.1, December 22, 2025
Morning blotter · 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.
Nashville · Upscale
260 keys · Nashville · Motto
New-build rooms-focused box a few blocks off Broadway. Apple opened and acquired the 260-key house on December 22, 2025 for approximately $98.2 million (Apple IR). Not a 1 Hotel lifestyle PPK and not a slice of Host’s $530 million two-hotel complex.
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.
Homewood Suites by Hilton Nashville-Brentwood · 121 keys · Upscale
Consideration
$15.0M
$124k / key
Chatham 10-K: $15.0 million for Homewood Suites Nashville-Brentwood. Keys from Chatham’s YE 2024 table (121). Suburban extended-stay — not a Broadway PPK.
Chatham Lodging Trust Form 10-K for the year ended Dec 31, 2025 (keys: YE 2024 property table)
Chatham sold the Homewood Suites by Hilton Nashville-Brentwood on January 30, 2025 for $15.0 million. Harbor PPK is $15.0 million ÷ 121, using Chatham’s December 31, 2024 property table. The 2025 sale filing does not restate keys — Harbor will not invent a later count. Buyer unnamed. Not a Broadway tape. The six-hotel $92 million March 2026 buy stays combined.
21c Hotel Nashville · 124 keys · Upscale
Consideration
$59.0M
$476k / key
RLJ 2022 10-K table: $59.0 million for the existing 124-room 21c Hotel Nashville. Downtown 21c — not a Motto Nashville PPK.
RLJ Lodging Trust Form 10-K for the year ended December 31, 2022 (closed July 29)
RLJ acquired the existing 124-room 21c Hotel Nashville on July 29, 2022 for a $59.0 million purchase price. Harbor PPK is $59.0 million ÷ 124. RLJ rounded the same math to about $476,000 per key. Use the table price, not transaction costs. Seller unnamed. Not Xenia’s W Nashville $328.7 million, not Motto Nashville $98.2 million, and not Union Station $56.0 million. The $49.9 million 2022 sold pair stays combined. Older than the 2025–26 blotter cut.