public_filing
Doubletree Guest Suites Times Square — Sunstone leasehold entity sale
$540,000,000 · $1,153,846/key
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.
Sunstone Hotel Investors Form 8-K, December 18, 2015 (entity sale closed that day)