Same hotel first, then the same market and segment. Structure footnotes stay on the tape. This is not a paid comps service.
Public filingDec 1, 2021
DoubleTree Hotel Metropolitan New York City · 764 keys · Upper upscale
RLJ Q4 2021 8-K Exhibit 99.1: $169.0 million gross for the 764-room DoubleTree Hotel Metropolitan New York City. December 2021; day-of-month not named. Midtown East box — not a Times Square convention PPK and not a Roger PPK.
RLJ Lodging Trust Form 8-K Exhibit 99.1, Q4 and full year 2021 (December close; day unnamed)
RLJ sold the 764-room DoubleTree Hotel Metropolitan New York City in December 2021 for a gross sales price of $169.0 million. Harbor uses the first of December rather than inventing a closing day. Harbor PPK is $169.0 million ÷ 764. Buyer unnamed. Not Host’s 2022 Sheraton Times Square $373 million convention box, not DiamondRock’s 2021 Lexington Hotel $185.3 million tape, and not Pebblebrook’s 2021 Roger $19.0 million tape. Older than the 2025–26 blotter cut.
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Public filingJun 30, 2021
The Lexington Hotel New York · 725 keys · Upper upscale
DiamondRock 8-K Exhibit 99.1: $185.3 million for the 725-room Lexington Hotel in New York City. Midtown East box — not a Times Square convention PPK and not a Metropolitan PPK.
DiamondRock Hospitality Company Form 8-K Exhibit 99.1, July 1, 2021 (closed June 30)
DiamondRock closed the 725-room Lexington Hotel in New York City on June 30, 2021 for $185.3 million. Harbor PPK is $185.3 million ÷ 725. Use the $185.3 million sale price — DiamondRock’s projected capital line is DiamondRock’s narrative, not a second hotel price. Buyer unnamed. The Frenchman’s Reef cash-plus-participation line stays off this graph. Not RLJ’s 2021 DoubleTree Metropolitan $169.0 million tape, not Host’s 2022 Sheraton Times Square $373 million convention box, and not Pebblebrook’s 2021 Roger $19.0 million tape. Older than the 2025–26 blotter cut.
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The Westin New York Grand Central · 774 keys · Upper upscale
Host IR: $302 million including approximately $20 million of FF&E funds. PPK is not rooms-only.
Host Hotels & Resorts IR, January 10, 2019 (closed January 9)
Host closed the sale of the Westin New York Grand Central on January 9, 2019 for $302 million, including approximately $20 million of FF&E funds. Host’s release does not name the buyer or the key count. Trade press names 774 keys and Davidson Kempner. Upper-upscale Midtown box — not a Central Park luxury PPK.
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Consideration not disclosedSep 1, 2018
The Beekman · 287 keys · Upper upscale
Consideration
Not disclosed
Hyatt / Thompson public materials
Affiliation overlay after opening. Not recorded as a deed sale.
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Doubletree Guest Suites Times Square · 468 keys · Upper upscale
Sunstone 8-K: $540.0 million contractual gross for the entity sale of the leasehold interests in the 468-room Doubletree Guest Suites Times Square. Leasehold — not a fee Midtown PPK.
Sunstone Hotel Investors Form 8-K, December 18, 2015 (entity sale closed that day)
Sunstone completed the sale of 100% of the membership interests in Times Square Hotel Sub, LLC, the indirect holder of the leasehold interests through which the 468-room Doubletree Guest Suites Times Square is operated, on December 18, 2015 for a contractual gross sale price of $540.0 million. Harbor PPK is $540.0 million ÷ 468 and is a leasehold number — do not apply it as a fee-simple Midtown rooms deed. The same 8-K names December 18, the 468 rooms, and that contractual hotel price. Use the $540.0 million hotel price, not the $520.574 million expected net and not the $175.0 million mortgage payoff. Buyer unnamed. Not Host’s 2022 Sheraton Times Square $373 million convention box, not RLJ’s 2021 DoubleTree Metropolitan $169.0 million tape, and not Pebblebrook’s Roger $19.0 million tape. Renaissance Harborplace and Renaissance Los Angeles Airport stay off until a filing names month, price, and keys together. Older than the 2025–26 blotter cut.
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Public filingApr 1, 2013
Hyatt Union Square · 178 keys · Upper upscale
Hersha Exhibit 99.1: $105.0 million total consideration for the 178-room Hyatt Union Square. Union Square Hyatt — not a Times Square convention PPK and not a midtown boutique PPK.
Hersha Hospitality Trust Exhibit 99.1, April 30, 2013 (April 2013 close)
Hersha acquired the 178-room Hyatt Union Square in April 2013 for $105.0 million total consideration. Harbor uses the first of April rather than inventing a closing day. Harbor PPK is $105.0 million ÷ 178. Hersha rounded the same math to approximately $590,000 per key. The same Exhibit 99.1 names April, the 178 rooms, and that hotel consideration. Use the $105.0 million named consideration, not the $55.0 million new mortgage. Seller unnamed. Filing names Union Square — Harbor will not invent a Times Square or Financial District lock. The same paper’s Courtyard Warwick 66.7% interest stays off. 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. Parrot Key stays off until one paper names 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 2014 Hotel 373 $37.0 million / 70 tape, not Hersha’s 2018 Hampton Inn Financial District $32.4 million / 81 tape, not Sunstone’s 2015 Doubletree Guest Suites Times Square $540.0 million / 468 tape, and not Host’s 2022 Sheraton Times Square $373 million convention box. Older than the 2025–26 blotter cut.
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