Harbor by Signalry · Buy / sell deskTape 231 of 282Cited price
Public tape · 231 of 282 · 2015
Dec 1, 2015Historical cited · 2015
Ritz-Carlton Georgetown — Hersha acquisition
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.
$50.0M
Cited consideration · 86 keys · $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.
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
$50.0M
$581,395 / key · 86 keys
Worksheet
$54.6M
$635,392 / key · Harbor defaults
Gap
+9%
Washington, D.C. · worksheet vs tape PPK
Hersha Exhibit 99.1: $50.0 million for the 86-room Ritz-Carlton Georgetown. Georgetown Ritz-Carlton — not a Dupont Circle independent PPK.
Georgetown Ritz-Carlton. Hersha bought the 86-key house in late December 2015 for $50.0 million (Q4 2015 Exhibit 99.1). Harbor uses the first of December rather than inventing a closing day. Seller unnamed. Filing names Georgetown — Harbor will not invent a Dupont Circle lock. 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.