Hotels only · No pay-to-rank · Advice first; verified when attested
Public tape · 47 of 282 · 2024
Closed July 2024. $680 million is net of $45 million Marriott key money for the Ritz-Carlton conversion. Host’s May 2024 agreement also expected a $630 / $50 million hotel-versus-land allocation, subject to final appraisal — Harbor records the $680 million combined figure, not an invented rooms-only deed. North Shore Oahu resort, not a Waikiki box.
$680.0M
Cited consideration · 450 keys · $1.5M / key
Host 2024 10-K: $680 million for the 450-room Turtle Bay Resort plus a 49-acre entitled land parcel, net of Marriott key money. Not a rooms-only PPK.
Host Hotels & Resorts Form 10-K for the year ended Dec 31, 2024
Historical cited · 2024 corpus. Public filing or issuer IR. Combined PSAs stay combined. Harbor will not invent a price.
Deal FrameLiving packetLabeled estimateCompare this tape2024 cited corpus2024 cited filingsHost · 2024 filings
Source
Host Hotels & Resorts Form 10-K for the year ended Dec 31, 2024
https://www.sec.gov/Archives/edgar/data/1061937/000107075025000071/hst-20241231.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 Not an unpublished book.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.
$1,511,111 / key · 450 keys
$1,135,556 / key · Harbor defaults
Honolulu / Waikiki · worksheet vs tape PPK
Host 2024 10-K: $680 million for the 450-room Turtle Bay Resort plus a 49-acre entitled land parcel, net of Marriott key money. Not a rooms-only PPK.
Host Hotels & Resorts Form 10-K for the year ended Dec 31, 2024
Historical cited · 2024 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.
Honolulu / Waikiki · Luxury
450 keys · Kahuku · Ritz-Carlton
North Shore resort (née Turtle Bay). Host acquired the 450-key house plus a 49-acre entitled land parcel in July 2024 for $680 million net of Marriott key money (2024 10-K). PPK is not rooms-only.
Same house or same market · 1
Same hotel first, then the same market and segment. Structure footnotes stay on the tape. This is not a paid comps service.
Halekulani · 453 keys · Luxury
Consideration
Not disclosed
Waikiki luxury independent. Hold. Listed for comps thinness, not as a sold tape.