Same hotel first, then the same market and segment. Structure footnotes stay on the tape. This is not a paid comps service.
Boston Park Plaza · 1060 keys · Upper upscale
Sunstone Exhibit 99.1: $370.0 million contractual gross for the 1,060-room Boston Park Plaza. Downtown historic box — not a Billerica interstate PPK.
Sunstone Hotel Investors Exhibit 99.1, third quarter 2023 (closed October 26)
Sunstone sold the 1,060-room Boston Park Plaza on October 26, 2023 for a contractual gross sale price of $370.0 million, or approximately $350,000 per key as Sunstone rounded it. Harbor PPK is $370.0 million ÷ 1,060. Use the $370.0 million sale price, not the $364.5 million net proceeds. Sunstone’s 12.1x / 7.1% TTM lines and the later 14.1x / 6.1% lines inclusive of near-term capex are Sunstone’s narrative, not a second hotel price. The $123.8 million gain is Sunstone’s accounting. Buyer unnamed. Not Chatham’s Billerica Homewood $17.4 million tape. Older than the 2025–26 blotter cut.
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Sheraton Boston Hotel · 1220 keys · Upper upscale
Host 10-Q: $233 million for the Sheraton Boston Hotel, including a $163 million bridge loan. February 2022; day-of-month not named. Keys (1,220) from Host IR. Back Bay convention box — not a Park Plaza PPK.
Host Hotels & Resorts Form 10-Q, quarter ended March 31, 2022 (February close; day unnamed; keys: Host IR 1,220-room)
Host sold the Sheraton Boston Hotel in February 2022 for $233 million, including a $163 million bridge loan Host provided to the buyer. Harbor uses the first of February rather than inventing a closing day. Harbor PPK is $233 million ÷ 1,220 from Host’s IR — the sale 10-Q does not restate keys. Use the $233 million sale price, not the $163 million seller loan and not the $12 million gain. Host’s 14.2x / foregone-capex lines are Host’s narrative, not a second hotel price. Buyer unnamed in Host’s filing. Not Sunstone’s $370 million Park Plaza tape and not Chatham’s Billerica Homewood. Older than the 2025–26 blotter cut.
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Public filingJul 1, 2016
Envoy Hotel · 136 keys · Upper upscale
Hersha Exhibit 99.1: $112.5 million for the 136-room Envoy Hotel in Boston. Boston Envoy — not a Back Bay convention PPK.
Hersha Hospitality Trust Exhibit 99.1, October 25, 2016 (July 2016 close)
Hersha acquired the 136-room Envoy Hotel in Boston in July 2016 for $112.5 million. Harbor uses the first of July rather than inventing a closing day. Harbor PPK is $112.5 million ÷ 136. The same Exhibit 99.1 names July, the 136 rooms, and that hotel price. Seller unnamed. Filing names Boston — Harbor will not invent a Back Bay lock. 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 same paper’s Ambrose Hotel line is a contract, not a close. Not RLJ’s 2021 AC Hotel Boston Downtown $89.0 million / 205 tape, not Ashford’s 2025 Courtyard Boston Downtown $123.0 million / 315 tape, not Hersha’s 2016 Hawthorn Suites Franklin $8.9 million / 100 tape, and not Hersha’s 2016 Courtyard Sunnyvale $75.0 million / 145 tape. Older than the 2025–26 blotter cut.
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