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) 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.
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Pebblebrook Hotel Trust (NYSE: PEB) has successfully closed the sale of The Marker San Francisco for $77.0 million. The hotel reported a net operating loss of $2.0 million for the year ending May 2022 and an EBITDA loss of $1.8 million. The sales price reflects a 10.0x EBITDA multiple based on 2019 performance, with an 8.8% cap rate. The proceeds will be utilized for general corporate purposes and to reduce outstanding debt linked to recent acquisitions, aligning with the Company’s investment strategy.
Pebblebrook Hotel Trust (NYSE: PEB) announced the acquisition of the AAA Four Diamond Gurney’s Newport Resort & Marina in Rhode Island for $174 million on June 23, 2022. This 257-room resort features extensive amenities, including event space, dining options, and a marina, positioned on Goat Island with scenic water views. The acquisition expands Pebblebrook's portfolio to 55 properties. The company aims to enhance the guest experience and improve cash flow through property renovations and operational upgrades, leveraging the resort's prime location in a high-demand market.
Pebblebrook Hotel Trust (NYSE: PEB) has provided an update on its recent operating trends, highlighting its significant portfolio of urban and resort lifestyle hotels. The company owns 54 hotels with approximately 13,400 guest rooms across 15 markets in the United States. For detailed insights on the current trends, stakeholders can visit the updated presentation on the company's website. This announcement is pivotal for investors tracking the company's performance in the hospitality sector.
Pebblebrook Hotel Trust (NYSE: PEB) will report its financial and operating results for Q2 2022 on July 26, 2022, post-market. A conference call is scheduled for July 27, 2022, at 9:30 AM ET. Investors can participate by calling in or accessing a live webcast via the company's website. Pebblebrook is a leading REIT, owning 54 hotels with approximately 13,400 guest rooms across 15 U.S. urban and resort markets, focusing on lifestyle hotels.