Pebblebrook Hotel Trust Completes Sale of Sir Francis Drake Hotel and Provides an Update on Hotel Reopenings
Pebblebrook Hotel Trust (NYSE: PEB) (the “Company”) today announced that it closed on the sale of the 416-room Kimpton Sir Francis Drake Hotel in San Francisco, CA to a third party on April 1, 2021, generating
Based on the hotel’s operating performance for 2019, the
Proceeds from the sale of Sir Francis Drake Hotel will be utilized for general business purposes, which may include reducing the Company’s outstanding debt.
Reopening of Additional Hotels
The Company has recently reopened operations at the following five urban hotels:
- Argonaut Hotel San Francisco;
- Harbor Court Hotel San Francisco;
- Hotel Monaco Washington DC;
- Hotel Zelos San Francisco; and
- Revere Hotel Boston Common.
With these recent hotel reopenings, the Company has now reopened 44 of the 52 hotels and resorts in its portfolio. These 44 properties accounted for
About Pebblebrook Hotel Trust
Pebblebrook Hotel Trust (NYSE: PEB) is a publicly traded real estate investment trust (“REIT”) and the largest owner of urban and resort lifestyle hotels in the United States. The Company owns 52 hotels, totaling approximately 12,800 guest rooms across 14 urban and resort markets with a focus on the west coast gateway cities. For more information, visit www.pebblebrookhotels.com and follow us at @PebblebrookPEB.
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www.pebblebrookhotels.com
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