Pebblebrok Hotel Stock Price, News & Analysis

Pebblebrook Hotel Trust (NYSE: PEB) has declared a quarterly cash dividend of $0.01 per common share, payable on October 17, 2022, to shareholders of record as of September 30, 2022. Additionally, dividends for preferred shares include $0.39844 for Series E, $0.39375 for Series F, $0.39844 for Series G, and $0.35625 for Series H, all payable on the same date. The company owns 51 hotels with approximately 12,800 guest rooms across 15 urban and resort markets in the U.S.

Pebblebrook Hotel Trust (NYSE: PEB) announced the closure of the sale of Hotel Vintage Portland for $32.9 million on September 14, 2022. The hotel recorded a net operating loss of $0.1 million and an EBITDA of $0.1 million for the trailing twelve months ended June 30, 2022. The sale price reflects an 11.7x EBITDA multiple and a 7.1% net operating income capitalization rate. Proceeds from the sale will support general corporate purposes, including potential debt reduction related to recent acquisitions.

Pebblebrook Hotel Trust (NYSE: PEB) will announce its financial results for the quarter ending September 30, 2022, on Thursday, October 27, 2022, after market close. A conference call is scheduled for Friday, October 28, 2022, at 9:00 AM ET. Participants can join by dialing (877) 407-3982 at 8:50 AM ET. A live webcast will also be available on the company's website. Pebblebrook Hotel Trust is the largest owner of urban and resort lifestyle hotels in the U.S., with 52 hotels comprising approximately 12,900 guest rooms across 15 markets.

Pebblebrook Hotel Trust (NYSE: PEB) announced the sale of the 236-room Hotel Spero in San Francisco for $71 million on August 25, 2022. The hotel reported a net operating loss of $1.6 million and Hotel EBITDA of ($1.4 million) for the trailing twelve months ending June 30, 2022. The sale reflects a 9.1x EBITDA multiple and a 9.8% capitalization rate based on 2019 performance. Proceeds will be used for corporate purposes and to reduce outstanding debt from recent acquisitions.

Pebblebrook Hotel Trust (NYSE: PEB) has provided an update on recent operating trends, showcasing its position as the largest owner of urban and resort lifestyle hotels in the U.S. The Company owns 53 hotels and resorts, offering approximately 13,100 guest rooms across 15 urban and resort markets. More details on the operating trends can be found in the updated presentation linked on their website.

Curator Hotel & Resort Collection has announced partnerships with six major parking vendors, including AAA and LAZ, enhancing valet and parking services for member hotels. This initiative aims to improve guest experiences by providing seamless and innovative parking solutions. The partnerships leverage the strengths of established companies in the parking industry, promising high-quality service and technological advancements. According to Curator's VP Austin Segal, these collaborations aim to deliver an exceptional arrival experience for guests and strengthen the overall hospitality service offered at Curator properties.

Pebblebrook Hotel Trust (NYSE: PEB) has announced the sale of the 306-room Sofitel Philadelphia at Rittenhouse Square for $80 million, completed on August 2, 2022. This sale reflects a 10.0x EBITDA multiple based on the hotel’s 2019 performance. For the trailing twelve months ended June 30, 2022, the hotel generated a net operating income of $3.1 million and Hotel EBITDA of $3.8 million. Proceeds will be allocated for general corporate purposes and to reduce outstanding debt from recent acquisitions.

Pebblebrook Hotel Trust (NYSE: PEB) reported a Q2 2022 net income of $28.8 million, with Same-Property RevPAR down 5.0% compared to 2019 but showing an 18.7% increase in ADR. Total revenues reached $395.7 million, recovering 96.9% of 2019 levels. The company achieved an Adjusted EBITDAre of $128.8 million, representing 83.8% recovery. Acquisitions included the Inn on Fifth and Gurney's Newport, totaling $330 million, while selling The Marker San Francisco for $77 million. The company maintains a robust liquidity position of $561.2 million as of June 30, 2022.

Curator Hotel & Resort Collection has been recognized by Travel + Leisure in its 2022 World Best Awards, with 13 member hotels earning accolades in various categories. Notable winners include Little Palm Island Resort & Spa and Viceroy Hotels & Resorts. Jennifer Barnwell, President of Curator, highlighted the importance of providing unique travel experiences and best-in-class technology to member hotels. Curator, founded by Pebblebrook Hotel Trust and leading hotel operators, aims to empower independent lifestyle hotels.