Only the tapes we can cite

Waldorf Astoria New York — Hilton to Anbang

Waldorf Astoria New York · 1413 keys · Luxury

The New York Times / Hilton announcement, Oct 2014

Hilton sold the 1,413-key Waldorf Astoria New York to Anbang Insurance Group for $1.95 billion. Later conversion reduced hotel keys. PPK uses the 2014 room count. This is a trophy going-concern sale, not a rooms-only select-service comp.

Open the tape →FramePacketEstimateNew YorkCompare

b2 / YVE Hotel Miami — Host Hotels acquisition

YVE Hotel Miami · 242 keys · Upscale

Host IR: $57.5 million for the 242-room fee-simple b2 miami downtown hotel. Later rebranded YVE.

Host Hotels & Resorts IR / PR Newswire, October 6, 2014 (closed August 2014)

Host announced it acquired the 242-room fee-simple b2 miami downtown hotel for $57.5 million. Subsequent Host materials date the close to August 2014 and the later YVE identity. Downtown Biscayne independent — not a South Beach luxury tape. Day-of-month not named in the release; Harbor uses the first of August rather than inventing a closing day.

Open the tape →FramePacketEstimateMiami / South BeachCompare

The Cosmopolitan of Las Vegas — Deutsche Bank to Blackstone

The Cosmopolitan of Las Vegas · 3027 keys · Luxury

Hotel-casino going-concern. Not a rooms-only boutique tape.

The New York Times DealBook, May 2014

Blackstone agreed to buy The Cosmopolitan from Deutsche Bank for $1.73 billion. Hotel-casino. Use as a structure-aware Strip tape, not a 120-key independent comp. Later 2022 MGM consideration is a different capital stack.

Open the tape →FramePacketEstimateLas VegasCompare

Hotel 373 — Hersha disposition

Hotel 373 · 70 keys · Independent / boutique

Hersha Exhibit 99.1: $37.0 million for the 70-room Hotel 373. Midtown Manhattan boutique — not a Financial District Hampton PPK.

Hersha Hospitality Trust Exhibit 99.1, May 1, 2014 (April 30, 2014 close)

Hersha sold the 70-room Hotel 373 in midtown Manhattan on April 30, 2014 for $37.0 million. Harbor PPK is $37.0 million ÷ 70. Hersha rounded the same math to $529,000 per key. The same Exhibit 99.1 names the completed sale, the 70 rooms, and that hotel price. The paper names an offshore investment group, not a Harbor party — Harbor will not invent a desk. Filing names midtown Manhattan — Harbor will not invent a Times Square or Financial District lock. Hersha’s 5.2% economic capitalization rate and 17.3x Hotel EBITDA lines are Hersha’s narrative, not a second 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 2021 four-hotel $178.5 million line and August 2022 six-pack $435.9 million stay combined. Not Hersha’s 2018 Hampton Inn Financial District $32.4 million / 81 tape and not Hersha’s 2016 Hawthorn Suites Franklin $8.9 million / 100 tape. Older than the 2025–26 blotter cut.

Open the tape →FramePacketEstimateNew YorkCompare

Powell / Axiom Hotel San Francisco — Host Hotels acquisition

Axiom Hotel San Francisco · 151 keys · Upscale

Host 10-K / earnings exhibit: $75 million for the 151-room Powell Hotel, 8,554 sf of retail, and the fee-simple land. PPK includes retail and land — not rooms-only.

Host Hotels & Resorts earnings exhibit (EX-99.1), February 2014

On January 21, 2014 Host acquired the 151-room Powell Hotel in San Francisco, along with 8,554 square feet of retail and the fee-simple land, for $75 million. Later converted to Axiom. Do not treat $496k/key as a rooms-only Union Square comp. Trade-press hotel/retail splits are unnamed-source gossip — Harbor will not repeat them as fact.

Open the tape →FramePacketEstimateSan FranciscoCompare