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Pebblebrook Hotel Trust - PEB STOCK NEWS

Welcome to our dedicated page for Pebblebrook Hotel Trust news (Ticker: PEB), a resource for investors and traders seeking the latest updates and insights on Pebblebrook Hotel Trust stock.

Pebblebrook Hotel Trust (NYSE: PEB) is a publicly traded real estate investment trust (REIT) specializing in the strategic acquisition and investment in upper-upscale, full-service hotels in prominent urban centers and gateway cities across the United States. Established to capitalize on prime hotel properties, Pebblebrook's portfolio comprises 46 hotels totaling approximately 11,924 guest rooms. The company emphasizes properties in major markets such as San Francisco, Los Angeles, Boston, New York, Miami, and Washington, DC, among others.

Pebblebrook Hotel Trust's properties are diverse, including both independent and branded luxury hotels managed under reputable names like Marriott, Starwood, InterContinental, Hilton, and Hyatt. This strategic diversification ensures a robust market presence and caters to a wide range of high-end travelers.

In December 2018, Pebblebrook notably acquired LaSalle Hotel Properties, which added 41 hotels with 10,451 rooms to its portfolio. Since then, the company has been active in refining and optimizing its portfolio through selective sales and acquisitions, focusing on enhancing the overall quality and performance of its investments.

The company recently unveiled a significant $25 million renovation at the Jekyll Island Club Resort and the Jekyll Ocean Club. This transformation highlights Pebblebrook's commitment to preserving historic assets while modernizing guest experiences. These efforts include updates to guest rooms, public spaces, and dining areas, all designed to maintain the resort's historical integrity and natural charm.

Pebblebrook Hotel Trust's strategic initiatives also extend to partnerships and collaborations aimed at boosting its market position and delivering superior guest experiences. Their focus on high-demand urban and resort markets ensures sustained growth and resilience against market fluctuations.

Financially, Pebblebrook continues to demonstrate robust performance, underpinned by strong revenue streams from its premium hotel properties. Their approach to maintaining a diverse yet coherent portfolio positions them well within the competitive landscape of luxury hospitality.

For more information about Pebblebrook Hotel Trust, including the latest updates and developments, visit their official website at www.pebblebrookhotels.com.

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Pebblebrook Hotel Trust (NYSE: PEB) has declared its quarterly dividends for Q4 2024. The company will pay $0.01 per common share on January 15, 2025, to shareholders of record as of December 31, 2024. Additionally, the company declared preferred share dividends: $0.39844 for Series E (6.375%), $0.39375 for Series F (6.3%), $0.39844 for Series G (6.375%), and $0.35625 for Series H (5.7%) shares.

Pebblebrook is the largest owner of urban and resort lifestyle hotels in the United States, with a portfolio of 46 hotels comprising approximately 12,000 guest rooms across 13 urban and resort markets.

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Pebblebrook Hotel Trust (NYSE: PEB) reported Q3 2024 results with net income of $45.1 million. Same-Property Total RevPAR grew 2.7%, with urban properties up 2.7% and resort properties up 2.5%. However, Same-Property Hotel EBITDA decreased 1.0% to $110.8 million, and Adjusted EBITDAre declined 3.3% to $112.2 million. The company received $7.1 million in unexpected insurance proceeds.

Hurricanes Debby and Helene negatively impacted Q3 performance, reducing Same-Property Total Revenues by $1.2 million. The company issued $400 million in senior notes and extended $787 million in debt maturities. The 2024 outlook was revised downward, with net loss projected between ($19.4) to ($15.4) million, primarily due to hurricane impacts.

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Pebblebrook Hotel Trust (NYSE: PEB) has successfully extended $787 million in debt maturities, enhancing its financial flexibility. The company extended $185.2 million of its 2025 term loan to 2029 and $602 million of its $650 million revolving credit facility to 2029. Following these extensions and a recent $400 million senior notes offering, PEB has executed approximately $1.2 billion in debt financings and extensions. The company's debt profile shows a weighted average interest rate of 4.3% on $2.3 billion outstanding debt, with 91% at fixed rates and 91% unsecured. These refinancing efforts ensure no significant debt maturities until December 2026.

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Pebblebrook Hotel Trust (NYSE: PEB) provided an update on hurricane impacts to its properties. LaPlaya Beach Resort & Club in Naples, Florida, was affected by Hurricanes Helene and Milton, with partial reopening scheduled for November 1, 2024. The Beach House building remains closed until Q1 2025. While repair costs are expected to be covered by insurance, the company reports significant operational impacts.

The storms are estimated to impact 2024 performance with: $11.5 million decrease in Net Income, $4.2 million reduction in Same-Property Total Revenue, and $0.10 decrease in Adjusted FFO per share. Other southeastern properties remained operational but experienced cancellations and reduced bookings.

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Pebblebrook Hotel Trust (NYSE: PEB) announced the closing of a $400 million private placement of 6.375% Senior Notes due 2029 through its operating partnership. The notes are senior unsecured obligations, initially guaranteed by the Company and its subsidiaries. Approximately $353.3 million of the net proceeds were used to pay down three unsecured term loans, resulting in no meaningful debt maturities until December 2026.

Following the repayments, the remaining outstanding principal amounts of the Operating Partnership's term loans maturing in October 2024, October 2025, and October 2027 are $0, $200.0 million, and $360.0 million, respectively. The notes were offered only to qualified institutional buyers and certain non-U.S. persons in offshore transactions.

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Pebblebrook Hotel Trust (NYSE: PEB) has released its sixth annual Corporate Sustainability Report, highlighting the company's 2023 performance and efforts towards sustainable business practices. The report aligns with international standards such as GRI, SASB, and TCFD. Key achievements include:

  • 38% reduction in greenhouse gas emissions intensity per square foot
  • 24% decrease in energy intensity per square foot
  • 67% decline in waste intensity per occupied room

The report also showcases asset resiliency improvements, sustainable initiatives, and biodiversity programs at various properties. Pebblebrook demonstrates a strong commitment to diversity, with 52% of its workforce being female and 50% of independent Board members representing diverse backgrounds. The company's ongoing support for charitable organizations and employee volunteerism is also highlighted.

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Pebblebrook Hotel Trust (NYSE: PEB) has provided an update on the impact of Hurricane Helene on several of its resorts. The 189-room LaPlaya Beach Resort & Club in Naples, Florida, was affected, with two of its three buildings currently operational. The Beach House, containing 79 guestrooms, is closed for repairs due to water infiltration. The company expects repair costs to be non-material and largely covered by insurance.

The Jekyll Island Club Resort in Georgia experienced minor damage and a temporary power outage but is now operating normally. Other Pebblebrook resorts in southern Florida affected by the hurricane are fully operational. The company anticipates that overall repair and remediation costs, net of insurance payments, will not be material. Pebblebrook's management teams have been praised for their efforts in protecting guests and mitigating property damage during the storm.

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Pebblebrook Hotel Trust (NYSE: PEB) announced the pricing of $400 million aggregate principal amount of 6.375% senior notes due 2029 through its operating partnership, Pebblebrook Hotel, L.P., and PEB Finance Corp. The notes, priced on September 23, 2024, will be senior unsecured obligations and initially guaranteed by the Company and its subsidiaries that guarantee existing credit facilities. The private placement is expected to close on October 3, 2024.

The net proceeds will be used to:

  • Pay down at least $253.0 million of unsecured term loans
  • Use the balance (up to $137.4 million) to pay down other unsecured term loans and/or repurchase convertible senior notes
The notes are being offered only to qualified institutional buyers and certain non-U.S. persons in offshore transactions, in compliance with Securities Act regulations.

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Pebblebrook Hotel Trust (NYSE: PEB) announced that its operating partnership, Pebblebrook Hotel, L.P., and PEB Finance Corp. intend to offer $350 million in senior notes due 2029 through a private placement. The notes will be senior unsecured obligations guaranteed by the company and its subsidiaries. The net proceeds will be used to pay down unsecured term loans (at least $253 million) and potentially repurchase a portion of convertible senior notes (up to $87.4 million).

The notes will not be registered under the Securities Act and will be offered only to qualified institutional buyers and certain non-U.S. persons in offshore transactions. This announcement does not constitute an offer to sell or a solicitation of an offer to buy the notes.

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Pebblebrook Hotel Trust (NYSE: PEB) has released an update on its recent operating trends. The company, which is the largest owner of urban and resort lifestyle hotels and resorts in the United States, has made an updated presentation available on its investor relations website for more detailed information.

Pebblebrook Hotel Trust is a publicly traded real estate investment trust (REIT) that owns 46 hotels and resorts, comprising approximately 12,000 guest rooms across 13 urban and resort markets. Investors and interested parties can find additional information or receive press releases via email by visiting the company's website at www.pebblebrookhotels.com.

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FAQ

What is the current stock price of Pebblebrook Hotel Trust (PEB)?

The current stock price of Pebblebrook Hotel Trust (PEB) is $13.55 as of December 20, 2024.

What is the market cap of Pebblebrook Hotel Trust (PEB)?

The market cap of Pebblebrook Hotel Trust (PEB) is approximately 1.6B.

What is Pebblebrook Hotel Trust?

Pebblebrook Hotel Trust is a publicly traded real estate investment trust (REIT) focusing on upper-upscale, full-service hotels in major urban and gateway cities across the U.S.

How many hotels does Pebblebrook own?

Pebblebrook Hotel Trust owns 46 hotels with a total of approximately 11,924 guest rooms.

Which hotel brands are included in Pebblebrook's portfolio?

Pebblebrook's portfolio includes independent hotels as well as properties managed under brands like Marriott, Starwood, InterContinental, Hilton, and Hyatt.

What was the significance of the LaSalle Hotel Properties acquisition?

The acquisition of LaSalle Hotel Properties in December 2018 added 41 hotels with 10,451 rooms to Pebblebrook's portfolio, significantly expanding its presence in the upscale hospitality market.

What are some recent projects by Pebblebrook Hotel Trust?

Pebblebrook recently completed a $25 million renovation at the Jekyll Island Club Resort and Jekyll Ocean Club, showcasing their commitment to modernizing and preserving historic hotel properties.

Where are Pebblebrook's hotels located?

Pebblebrook's hotels are located in key urban markets including San Francisco, Los Angeles, Boston, New York, Miami, and Washington, DC, among others.

What is the business strategy of Pebblebrook Hotel Trust?

Pebblebrook's strategy focuses on acquiring and investing in high-quality, full-service hotels in prime urban and gateway markets, optimizing their portfolio through selective acquisitions and sales.

How does Pebblebrook maintain its market position?

Pebblebrook maintains its market position through strategic diversification, partnerships, and continuous improvement of its hotel properties to enhance guest experiences and financial performance.

What are the financial highlights of Pebblebrook?

Pebblebrook demonstrates strong financial performance with robust revenue streams from its high-end hotel properties, supported by strategic acquisitions and property optimization.

Where can I find more information about Pebblebrook Hotel Trust?

More information about Pebblebrook Hotel Trust can be found on their official website at www.pebblebrookhotels.com.

Pebblebrook Hotel Trust

NYSE:PEB

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PEB Stock Data

1.63B
117.26M
1.97%
120.94%
13.36%
REIT - Hotel & Motel
Real Estate Investment Trusts
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United States of America
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