Pebblebrook Hotel Trust adds Bill Bayless to board
Pebblebrook's portfolio comprises 43 hotels and approximately 10,900 guest rooms across 14 urban and resort markets.
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Form Type
8-K
Rhea-AI Filing Summary
Pebblebrook Hotel Trust (PEB) added Bill Bayless to its Board of Trustees on October 1, 2026, after the Board elected him on February 5, 2026. His term runs until the 2027 annual meeting of shareholders and until his successor is duly elected and qualified.
The Board increased from seven to eight trustees to facilitate his appointment; seven are independent. Bayless will receive the same fees as other independent trustees, with his first cash payment prorated from his start date. He received a one-time award of $50,000 in common shares of beneficial interest, vesting in one-third increments annually over three years, assuming continued Board service. The company also entered into an indemnification agreement that provides indemnification and advancement of expenses to the maximum extent permitted by Maryland law for claims, suits or proceedings arising from his service to the company.
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8-K Event Classification
3 items: 5.02, 7.01, 9.01
3 items
Item 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers
Governance
Key personnel changes including departures, elections, or appointments of directors and executive officers.
Item 7.01
Regulation FD Disclosure
Disclosure
Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, or exhibit attachments filed with this report.
Key Figures
Board size: 8 trustees
Independent trustees: 7 of 8 trustees
One-time trustee award: $50,000 in common shares of beneficial interest
+4 more
7 metrics
Board size
8 trustees
Following Bayless's appointment
Independent trustees
7 of 8 trustees
Board composition following Bayless's appointment
One-time trustee award
$50,000 in common shares of beneficial interest
Award upon joining the Board
Award vesting schedule
One-third increments annually over three years
Assuming continued service on the Board
Hotels
43 hotels
Company portfolio as of October 1, 2026
Guest rooms
Approximately 10,900 guest rooms
Company portfolio as of October 1, 2026
Markets
14 urban and resort markets
Company portfolio as of October 1, 2026
Key Terms
indemnification agreement, advancement of expenses, common shares of beneficial interest, real estate investment trust
4 terms
indemnification agreement regulatory
"entered into an indemnification agreement with Mr. Bayless"
An indemnification agreement is a contract in which one party promises to cover losses, costs, or legal claims that another party might face, acting like a tailored safety net or private insurance policy. For investors, it matters because such agreements shift potential financial risk away from a company or its officers and onto the indemnifier, which can affect a company’s future liabilities, cash flow and how risky the investment appears during deal-making or litigation.
advancement of expenses regulatory
"indemnification of and advancement of expenses to a trustee"
real estate investment trust financial
"a publicly traded real estate investment trust (REIT)"
A real estate investment trust (REIT) is a company that owns and manages income-producing properties—like apartment buildings, shopping centers, offices, or warehouses—and is required to pass most of its rental income to shareholders as dividends. Think of it as a shared property owner: instead of buying a whole building, investors buy a slice of a portfolio that pays regular income and can offer exposure to property values and rental markets without direct management. REITs matter to investors for predictable income, diversification, and liquidity compared with owning physical real estate.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
Who joined PEB's board, and when?
Bill Bayless joined Pebblebrook's Board of Trustees on October 1, 2026, after the Board elected him on February 5, 2026. He is CEO and Executive Chairman of Maslow's Campus Communities and has more than 35 years of real estate experience.
AI-generated analysis. How Rhea-AI works. Not financial advice.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of Earliest Event Reported): October 1, 2026
(Exact name of registrant as specified in its charter)
| (State or other jurisdiction | (Commission | (I.R.S. Employer | ||||||||||||
| of incorporation) | File Number) | Identification No.) | ||||||||||||
| (Address of principal executive offices) | (Zip Code) | ||||||||||
Registrant’s telephone number, including area code: (240 ) 507-1300
| Not Applicable | ||
| Former name or former address, if changed since last report | ||
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| Securities registered pursuant to Section 12(b) of the Act: | ||||||||||||||
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On October 1, 2026, Bill Bayless joined the Board of Trustees (the “Board”) of Pebblebrook Hotel Trust (the “Company”). Mr. Bayless will serve until the Company’s 2027 annual meeting of shareholders and until his successor is duly elected and qualified. As previously disclosed, the Board elected Mr. Bayless to the Board on February 5, 2026.
Mr. Bayless is the Chief Executive Officer and Executive Chairman of Maslow’s Campus Communities, which he founded, and a widely recognized real estate operator and capital markets leader who helped build and institutionalize the modern student housing sector. Over his career spanning more than 35 years, Mr. Bayless has been involved in nearly $30 billion in real estate transactions. He co-founded American Campus Communities (formerly NYSE: ACC), a student housing REIT, and led its growth from an early-stage platform into the first publicly traded student housing company. In 2022, he helped lead that company’s nearly $13 billion sale to Blackstone. Mr. Bayless has served in leadership roles across the REIT and multifamily industries, including as a member of the Board of Governors of Nareit and the National Multifamily Housing Council. He has been recognized for innovation and leadership, including as Ernst & Young National Entrepreneur of the Year (Real Estate, Construction & Hospitality).
On October 1, 2026, the Company has entered into an indemnification agreement with Mr. Bayless substantially in the form of the indemnification agreement the Company has entered into with all of its other trustees and executive officers, which was filed by the Company with the United States Securities and Exchange Commission (the “SEC”) on November 10, 2009 as Exhibit 10.4 to Amendment No. 1 to the Company’s Registration Statement on Form S-11. The indemnification agreements generally provide for the indemnification of and advancement of expenses to a trustee to the maximum extent permitted by Maryland law for claims, suits or proceedings arising out of his or her service to the Company.
Mr. Bayless will receive the same fees for his service on the Board as the Company’s other independent trustees, which fees were disclosed in the proxy statement for the Company’s 2026 Annual Meeting of Shareholders, filed with the SEC on April 17, 2026. The first payment of cash compensation to Mr. Bayless for service on the Board will be pro-rated from his date of joining the Board. In addition, upon joining the Board, Mr. Bayless received a one-time award of $50,000 in common shares of beneficial interest of the Company. The shares granted under the award will vest in one-third increments annually over three years assuming continued service on the Board. The award was made pursuant to an agreement substantially in the form of the share award agreement the Company has entered into with all of its other independent trustees, which was previously filed by the Company with the SEC on November 25, 2009 as Exhibit 10.6 to Amendment No. 2 to the Company’s Registration Statement on Form S-11.
To facilitate Mr. Bayless joining the Board, the size of the Board was increased from seven to eight trustees on October 1, 2026.
Item 7.01. Regulation FD Disclosure.
The Company issued a press release on October 1, 2026, announcing the election of Bill Bayless to the Board.
A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is hereby incorporated by reference herein.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
| Exhibit No. | Description | |||||||
99.1 | Press release, issued October 1, 2026, announcing that Bill Bayless has joined the Board of Trustees | |||||||
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) | |||||||
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| PEBBLEBROOK HOTEL TRUST | |||||||||||
| October 1, 2026 | By: | /s/ Raymond D. Martz | |||||||||
| Name: | Raymond D. Martz | ||||||||||
| Title: | Co-President, Chief Financial Officer, Treasurer and Secretary | ||||||||||
Exhibit 99.1
4747 Bethesda Avenue, Suite 1100, Bethesda, MD 20814
T: (240) 507-1300, F: (240) 396-5626
www.pebblebrookhotels.com
News Release
Pebblebrook Hotel Trust Welcomes Bill Bayless To Board Of Trustees
Bethesda, MD, October 1, 2026 – Pebblebrook Hotel Trust (NYSE: PEB) (the “Company” or “Pebblebrook”) today announced that Bill Bayless joined its Board of Trustees effective October 1, 2026.
Mr. Bayless is the Chief Executive Officer of Maslow Campus Communities and a widely recognized real estate operator with extensive capital markets experience who helped build and institutionalize the modern student housing sector. Over his more than 35-year career, he has been involved in nearly $30 billion in real estate transactions. He co-founded American Campus Communities (formerly NYSE: ACC), a REIT, and led its growth from an early-stage platform into the first publicly traded student housing company. In 2022, he helped lead the company’s approximately $13 billion sale to Blackstone.
Mr. Bayless has also held leadership roles across the REIT and multifamily industries, including serving on the Board of Governors of Nareit and on the Executive Committee of the National Multifamily Housing Council. He has received numerous industry honors, including being named Ernst & Young’s 2017 National Entrepreneur of the Year, Construction & Hospitality category.
Following Mr. Bayless's appointment, Pebblebrook’s Board of Trustees consists of eight members, seven of whom are independent.
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 43 hotels, totaling approximately 10,900 guest rooms across 14 urban and resort markets.
All information in this press release is as of October 1, 2026. The Company undertakes no duty to update the statements in this press release to conform the statements to actual results or changes in the Company’s expectations.
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Contact:
Raymond D. Martz, Co-President and Chief Financial Officer, Pebblebrook Hotel Trust - (240) 507-1330
For additional information or to receive press releases via email, please visit www.pebblebrookhotels.com
