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 is a publicly traded REIT that owns urban and resort lifestyle hotels in U.S. markets. Company news regularly covers hotel operating results, RevPAR and same-property hotel EBITDA trends, portfolio repositioning and rebranding projects, dividends on common and preferred shares, tax treatment of distributions, and debt refinancing or credit-facility activity.
Updates also address market-level demand conditions across urban and resort locations, capital investments, asset dispositions, operating initiatives in food and beverage and other hotel revenue streams, and corporate governance or shareholder matters affecting the trust.
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.
Curator Hotel & Resort Collection has expanded its portfolio by adding three new properties: South Congress Hotel in Austin, Texas, Silverado Resort and Spa in Napa Valley, California, and Saybrook Point Resort & Marina in Old Saybrook, Connecticut. This brings Curator's total to 98 members, enhancing its presence in key markets. The new properties align with top travel trends, offering unique experiences and local culture. Jennifer Barnwell, President of Curator, emphasized the growing demand for unique and memorable stays. Curator, founded by Pebblebrook Hotel Trust, partners with leading hotel operators to enhance guest experiences.
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Pebblebrook Hotel Trust (NYSE: PEB) announced tax treatment for its 2022 distributions to common and preferred shareholders. The total distribution per share included ordinary dividends and capital gain distributions, with amounts ranging from $0.010000 to $0.398440 across various dates. Key payment dates include January 18, April 15, July 15, October 17 in 2022, and January 17, 2023. Shareholders are advised to consult tax advisors for specific treatment of distributions. As a leader in urban and resort lifestyle hotels, Pebblebrook currently owns 51 hotels with approximately 12,800 rooms nationwide.
Pebblebrook Hotel Trust (NYSE: PEB) recently released preliminary operating trends and financial results for Q4 and full year 2022. The Company reported a net loss of $41 million for Q4 and $87 million for the full year. Adjusted EBITDAre for Q4 was $56 million, exceeding prior expectations. Adjusted FFO stood at $24 million for Q4, also higher than previously forecasted. The Same Property RevPAR for Q4 was $174, reflecting a slight variance from previous projections. Additionally, the Company announced the planned sale of The Heathman Hotel for $45 million, targeted for completion in Q1 2023, pending normal closing conditions.
Pebblebrook Hotel Trust (NYSE: PEB) announced it will report its financial results for Q4 2022 on February 21, 2023, after market close. A conference call will follow on February 22, 2023, at 9:00 AM ET. Participants can join by calling (877) 407-3982. The live webcast will be accessible on the company's website. Pebblebrook is the largest owner of urban and resort lifestyle hotels in the U.S., with 51 hotels and approximately 12,800 guest rooms across 15 markets.
Pebblebrook Hotel Trust (NYSE: PEB) revised its Q4 2022 financial outlook, anticipating a net loss of $39.9 million, an increase from the prior estimate of $35.9 million. Adjusted EBITDAre is projected between $52.0 million and $56.0 million, down from $63.8 million to $71.8 million previously. The company reported that Same Property RevPAR will likely decrease by $10 to $13 compared to earlier forecasts. Factors affecting performance include Hurricane Nicole and weakened demand. The LaPlaya Beach Resort is currently closed for repairs, with a partial reopening expected in Q1 2023.
Curator Hotel & Resort Collection has expanded with the addition of eight new hotels, boosting its portfolio to 96 properties across 48 destinations. Notable additions include The Olive Ann in Grand Forks, North Dakota, which is under development and set to open in fall 2023, and multiple hotels in California and Florida. This expansion highlights Curator's commitment to providing innovative technology and operational support, enhancing cost-saving opportunities for member hotels. The group is approaching 100 preferred agreements across various categories, indicating strong growth potential.
Pebblebrook Hotel Trust (NYSE: PEB) announced a quarterly cash dividend of $0.01 per common share, payable on January 17, 2023, to shareholders on record as of December 30, 2022.
The Board declared quarterly cash dividends for preferred shares as follows: $0.39844 (Series E), $0.39375 (Series F), $0.39844 (Series G), and $0.35625 (Series H), all payable on January 17, 2023.
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