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Powell / Axiom Hotel San Francisco — Host Hotels acquisition
$75,000,000 · $496,689/key
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.
Host Hotels & Resorts earnings exhibit (EX-99.1), February 2014