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.
Pebblebrook Hotel Trust (NYSE: PEB) has successfully monetized 14 rooftop wireless leases, generating net proceeds of $12.0 million at a 5.5% net income capitalization rate. The company has entered a strategic marketing agreement for future rooftop assets at the involved properties. The proceeds will be used for general business purposes, including potential debt reduction. Despite slightly lower Hotel EBITDA in December 2020 compared to November, the company’s independent hotels achieved positive EBITDA, contrasting with negative results from major-branded hotels.
Pebblebrook Hotel Trust (NYSE: PEB) will report its financial results for Q4 2020 on February 23, 2021, after market close. A conference call will be held on February 24, 2021, at 9:00 AM ET for further discussion.
The company operates urban and resort lifestyle hotels, owning 53 properties with approximately 13,200 guest rooms across 14 markets in the U.S.
Pebblebrook Hotel Trust (NYSE: PEB) has successfully closed a public offering of $500 million in 1.75% Convertible Senior Notes due 2026. The offering includes $50 million from the underwriters’ over-allotment option. The notes are senior unsecured obligations and pay interest semiannually, maturing on December 15, 2026. They feature an initial conversion rate that equates to approximately $25.47 per common share. Proceeds will help fund capped call transactions and reduce debt from the revolving credit facility.
Pebblebrook Hotel Trust (NYSE: PEB) has declared a quarterly cash dividend of $0.01 per common share, payable on January 15, 2021, to shareholders of record as of December 31, 2020. Additionally, the Company announced quarterly 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 the same date. With a portfolio of 53 hotels and approximately 13,200 guest rooms, Pebblebrook is a leading REIT focusing on urban and resort markets.
Pebblebrook Hotel Trust (NYSE: PEB) has announced the pricing of an underwritten public offering amounting to $450 million of its 1.75% Convertible Senior Notes due 2026. The offering is anticipated to close on December 15, 2020. The Notes will rank equally with the Company’s existing unsecured debt, paying interest semiannually and convertible under certain conditions. Additionally, the Company plans to use part of the proceeds to cover costs related to capped call transactions and to reduce debt.
Pebblebrook Hotel Trust (NYSE: PEB) has announced an underwritten public offering of $350 million in Convertible Senior Notes due 2026, with an option for underwriters to purchase an additional $52.5 million. The Notes will be convertible under specific conditions, and holders may receive cash, common shares, or a combination upon conversion. Proceeds will be used for capped call transactions and to reduce debt under revolving credit facilities. The offering is managed by BofA Securities and Raymond James.
Pebblebrook Hotel Trust (NYSE: PEB) announces the launch of Curator Hotel & Resort Collection, alongside six major hotel operators. This collection showcases over 120 independent lifestyle hotels, aiming to empower small brands while maintaining their unique identities. Curator focuses on enhancing performance through owner-centric benefits, operational cost savings, and specialized technology, allowing members to compete effectively. The initiative responds to a growing demand for unique travel experiences among sophisticated travelers, fostering increased visibility for independent hotels.
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.
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