public_filing
Residence Inn Salt Lake City — Apple Hospitality acquisition
$25,500,000 · $187,500/key
Apple acquired the existing 136-room Residence Inn Salt Lake City on October 20, 2017 for a $25.500 million gross purchase price. Harbor PPK is $25.500 million ÷ 136. That math is $187,500 per key. Use the table price, not transaction costs. Seller unnamed. Table city is Salt Lake City — Harbor will not invent a suburb. Not the 2023 downtown Courtyard $48.11 million tape and not the Hyatt House $34.25 million tape. The $161.770 million 2017 line is the sum of six named 10-K prices. The Birmingham adjoining dual-brand 2017 line stays combined. Older than the 2025–26 blotter cut.
Apple Hospitality REIT Form 10-K for the year ended December 31, 2017 (closed October 20)