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.
L'Auberge Del Mar, a Southern California beach resort, is welcoming guests back with a 50% discount on Best Available Rates for stays from Sunday to Thursday, valid until April 30, 2021, using the promo code FAM21. This offer aims to help guests reconnect and destress after a challenging year. The resort is also undergoing a multi-million-dollar transformation to enhance its luxury appeal. Guests can enjoy a glimpse of these upgrades with the 'We are Family' package, reinforcing the resort’s commitment to high health and safety standards.
Pebblebrook Hotel Trust (NYSE: PEB) has declared a quarterly cash dividend of $0.01 per common share, payable on April 15, 2021, to shareholders of record as of March 31, 2021. Additionally, the Company announced cash dividends for its preferred shares, including $0.40625 for Series C, $0.39844 for Series D and E, and $0.39375 for Series F, all payable on April 15, 2021. As the largest owner of urban and resort lifestyle hotels in the U.S., Pebblebrook emphasizes its commitment to rewarding shareholders amidst ongoing economic challenges.
Curator Hotel & Resort Collection has announced the addition of 13 new member hotels from Noble House Hotels & Resorts, enhancing its portfolio shortly after its launch in November 2020. This collaboration allows member hotels to leverage cost-saving operating agreements and technology, aiming to improve their operational performance and guest experiences. Noble House CEO Jake Donoghue emphasized the benefits of reduced expenses and increased focus on revenue generation as hotel demand rebounds post-pandemic. Curator has onboarded 49 out of 120 prospective hotels from its founding members.
Pebblebrook Hotel Trust (NYSE: PEB) will report its financial results for Q1 2021 on April 29, 2021, after market close. A conference call will follow on April 30, 2021, at 9:00 AM ET. Interested participants can join by dialing (877) 705-6003 or accessing a live webcast on the company's website. Pebblebrook is the largest owner of urban and resort lifestyle hotels in the U.S., managing 53 hotels with approximately 13,200 guest rooms across 14 markets, primarily on the West Coast.
Pebblebrook Hotel Trust (NYSE: PEB) reports that 38 out of its portfolio's hotels are operational, contributing 73% of the 2019 Hotel EBITDA. The demand has softened due to seasonal factors and COVID-19, with expectations for recovery beginning in February 2021. The company experienced a monthly cash burn between $16 million to $21 million during Q4 2020 and raised $763.75 million through convertible notes to enhance liquidity. Despite a challenging 2020, the company anticipates gradual recovery in 2021, aiming for profitability in the latter half.
Pebblebrook Hotel Trust (NYSE: PEB) announced successful amendments to its debt agreements, including a $650 million senior unsecured revolving credit facility and $1.6 billion in term loans. Maturity for $21 million of debt has been extended to November 2022. The amendments waive existing financial covenants until Q1 2022, allowing flexibility for acquisitions and capital improvements. The Company can continue to pay dividends during this period. CEO Raymond Martz noted increased liquidity compared to pre-COVID levels, enhancing future investment opportunities.
Pebblebrook Hotel Trust has expanded its Curator Hotel & Resort Collection by welcoming 11 hotels from the Provenance collection, enhancing its portfolio of independent lifestyle hotels.
These properties are located in key cities across the U.S., including Portland, New Orleans, Nashville, and Palm Springs. Curator provides its members with operational efficiencies, enabling them to compete effectively while maintaining their unique identities. This strategic move aims to address the growing demand for unique travel experiences in the hospitality sector.
Melody Investment Advisors has announced an investment in Pebblebrook Hotel Trust to install cell site installations on 14 rooftops across 11 Pebblebrook hotels. This partnership includes a strategic marketing and revenue-sharing agreement, aiming to enhance revenue from underutilized rooftop assets. Pebblebrook's hotels, located in high-density areas, can provide valuable locations for the wireless industry, particularly during the 5G rollout. The collaboration is expected to bolster Pebblebrook's revenue growth through this new asset class.
Pebblebrook Hotel Trust (NYSE: PEB) has successfully completed its public offering of $250 million in 1.75% Convertible Senior Notes due 2026. This offering includes an additional $35 million from the underwriters' over-allotment option. The proceeds will enhance the company's liquidity to approximately $790 million and improve its debt maturity schedule by facilitating the paydown of about $177 million in debt due in 2021 and 2022. The Notes are convertible into shares or cash and are expected to trade interchangeably with previously issued notes.
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