Welcome to our dedicated page for Pebblebrok Hotel news (Ticker: PEB), a resource for investors and traders seeking the latest updates and insights on Pebblebrok Hotel stock.
Pebblebrook Hotel Trust (NYSE: PEB) is a U.S. lodging real estate investment trust (REIT) that describes itself as the largest owner of urban and resort lifestyle hotels in the United States. The news flow around Pebblebrook frequently covers hotel operating performance, portfolio changes, capital markets activity, and dividend decisions, giving investors and observers insight into both the company and broader lodging trends.
Company news often highlights quarterly and annual results, including net income or loss, Same-Property RevPAR and Total RevPAR, hotel EBITDA, Adjusted EBITDAre, Adjusted FFO, and related outlook ranges. Pebblebrook regularly issues releases detailing its expectations for upcoming quarters and full-year performance, along with commentary on demand patterns across its urban and resort markets.
Another recurring theme in Pebblebrook’s news is portfolio recycling and capital allocation. Press releases describe hotel sales, such as the disposition of specific properties, and explain how sale proceeds are expected to be used for general corporate purposes, including reducing outstanding debt and preferred equity and repurchasing common or preferred shares. These announcements are often accompanied by updated outlooks and reconciliations of non-GAAP financial measures.
News items also address balance sheet and financing actions, including offerings of convertible senior notes, repurchases of existing notes, and related capped call transactions. In addition, the company reports on Board-authorized share repurchase programs and quarterly common and preferred dividend declarations.
For readers tracking PEB, this news stream provides ongoing detail on hotel-level performance, capital structure decisions, and REIT-specific measures that the company uses to evaluate its business. Regular updates on earnings, transactions, and dividends help contextualize the company’s strategy and operating environment over time.
The Viceroy Santa Monica has completed a comprehensive $21 million renovation, led by award-winning design studio EDG. This transformation includes entirely new guestrooms and suites, redesigned common areas, and an extensive outdoor space featuring the signature restaurant, Sugar Palm. The hotel celebrates local artistry with a curated art collection and promotes sustainability by repurposing materials and emphasizing plant-based dining. CEO Bill Walshe expressed excitement about the reimagined hotel, which aims to enhance guest experiences through luxury and immersive environments. Situated on Ocean Avenue, the Viceroy remains a prominent lifestyle hotel in Santa Monica, offering access to various attractions and beachside leisure.
Pebblebrook Hotel Trust (NYSE: PEB) is set to release its financial results for Q1 2023 on April 26, 2023, after market close. A conference call will follow on April 27, 2023, at 10:00 AM ET, available via phone and a live webcast on their website. Pebblebrook, the largest owner of urban and resort lifestyle hotels in the U.S., currently holds 49 hotels with around 12,500 guest rooms. These results will reflect the company’s operational performance as it continues to navigate the hospitality market.
Pebblebrook Hotel Trust (NYSE: PEB) announced the sale of Hotel Colonnade Coral Gables for $63 million on March 28, 2023. The hotel generated a net operating income of $4.1 million and Hotel EBITDA of $4.8 million for the trailing twelve months ended December 31, 2022. The sale price reflects a 15.4x EBITDA multiple and a 5.5% net operating income capitalization rate. Proceeds from the sale will be utilized for general corporate purposes, including potential debt reduction and equity share buybacks. Pebblebrook Hotel Trust is a leading REIT with 49 hotels and resorts across 14 markets.
Pebblebrook Hotel Trust (NYSE: PEB) has released an update on its recent operating trends, emphasizing its position as a leading publicly traded real estate investment trust (REIT) focused on urban and resort lifestyle hotels. The company owns 50 hotels with approximately 12,600 guest rooms across 15 markets in the United States. For further details on the operating trends, an updated presentation is available on their investor website.
Pebblebrook Hotel Trust (NYSE: PEB) has completed the sale of a fully occupied retail property at 909 North Michigan Avenue for $27.3 million. The 5,860 square-foot parcel, which has a cap rate of approximately 7.7%, is adjacent to the Company's Westin Michigan Avenue Chicago hotel. Proceeds from the sale will support general corporate purposes, potentially including debt reduction and share repurchases. Pebblebrook continues to be a major player in the U.S. hotel market, owning 50 hotels totaling around 12,600 guest rooms across 15 urban and resort markets.
Curator Hotel & Resort Collection has appointed ASSA ABLOY Global Solutions as its preferred provider for RFID door locks and access solutions for member hotels. This strategic alliance aims to enhance security and efficiency, offering competitive pricing and timely delivery of innovative security solutions. The partnership promises to streamline installation processes, reduce costs, and improve project management support for hotel members, ensuring a superior guest experience. With a robust support model, Curator holds a commitment to provide cutting-edge security technology for its diverse hospitality network, enhancing operational efficiency.
Pebblebrook Hotel Trust (NYSE: PEB) has announced a quarterly cash dividend of $0.01 per common share, payable on April 17, 2023, to shareholders of record as of March 31, 2023. Additionally, the Company declared regular quarterly cash dividends on its preferred shares, including $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. Pebblebrook operates 50 hotels, totaling around 12,600 guest rooms across various markets, emphasizing its position as a significant player in the urban and resort hotel sector.
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Pebblebrook Hotel Trust (NYSE: PEB) announced the sale of The Heathman Hotel in Portland, OR for $45.0 million on February 22, 2023. The sale reflects a 10.7x EBITDA multiple and an 8.4% net operating income capitalization rate based on the hotel's 2019 performance. For the trailing twelve months ending December 31, 2022, the hotel generated a net operating income of $1.0 million and Hotel EBITDA of $1.2 million, after accounting for a 4.0% annual capital reserve. Proceeds will be utilized for general corporate purposes, including potential debt reduction and share repurchases.
Pebblebrook Hotel Trust (NYSE: PEB) reported a net loss of ($85.0) million for 2022, with a significant Same-Property Total RevPAR increase of 65.1% compared to 2021, recovering 93.0% to 2019 levels. Same-Property EBITDA reached $391.0 million, up 123.0% from 2021. In Q4 2022, net loss was ($39.9) million, with Total RevPAR up 27.9% year-over-year. The company acquired properties for $330.0 million and executed a contract to sell The Heathman Hotel for $45.0 million. Looking ahead, Q1 2023 anticipates a net loss between ($48.6) and ($43.6) million, with Same-Property RevPAR expected to rise 15.0% to 18.0% versus 2022.