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.
On October 13, 2020, Condé Nast Traveler announced its annual Readers' Choice Awards, ranking The Marker Hotel as the #1 Hotel and Hotel Spero as #2 in San Francisco. Over 715,000 readers participated in the poll, emphasizing the hotels' excellence amid the COVID-19 pandemic. This marks the second consecutive year Hotel Spero received a top recognition. The awards highlight the hotels' high service quality, cleanliness, and locations, with both managed by Access Hotels and Resorts, and owned by Pebblebrook Hotel Trust (NYSE:PEB), which owns 53 hotels across the U.S.
Viceroy Hotels & Resorts has opened Hotel Zena in Washington D.C., a cultural hub focused on female empowerment. This 191-room hotel features a striking design, highlighting over 60 pieces of art that celebrate women's contributions to civil rights. It showcases a portrait of Justice Ruth Bader Ginsburg made from 20,000 hand-painted tampons and other notable installations. CEO Jon Bortz emphasized the hotel as a safe space for meaningful discussions. In addition, Hotel Zena offers versatile event spaces, a restaurant, and a rooftop lounge set to open in Spring 2021.
Pebblebrook Hotel Trust (NYSE: PEB) reported updates on its Q3 2020 operations. In July, the Company’s 23 hotels generated $19.7 million in Total Hotel Revenues and $1.1 million in Hotel EBITDA. In August, 34 hotels generated $25.8 million in Total Hotel Revenues but reported a Hotel EBITDA loss of $0.5 million, largely due to $1.2 million in retail lease income write-offs. September occupancy stands at approximately 39%. The Company anticipates further hotel reopenings as demand recovers, while monthly cash burn has decreased to $6-$9 million for hotels and $17-$22 million for corporate expenses.
Skamania Lodge in Stevenson, Wash., will introduce two new treehouses in September, following the success of its previous ones, which saw a 90% occupancy rate during summer. Named Candy Flower and Shooting Star, these treehouses are elevated 40 feet and feature a queen bed and a tent-like nook. Guests can enjoy nature-inspired decor, a see-through fireplace, and private fire pits. The lodge offers diverse outdoor activities and amenities, with a history of opening new treehouses since 2016, aiming to enhance guest experiences in the Columbia River Gorge.
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