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) reported a net loss of $22.0 million for Q1 2023, an improvement from a loss of $100.2 million in Q1 2022. Same-Property Total RevPAR increased by 23.8% year-over-year, with EBITDA rising 25.4% to $59.3 million. Adjusted FFO per diluted share reached $0.18, compared to $0.11 in the previous year. The company completed $135.3 million in property sales, including properties in Portland and Chicago, and has executed contracts for additional sales. Looking ahead, the company anticipates net income for Q2 2023 to be between $34.0 million and $38.9 million with Same-Property RevPAR projected to grow by 1% to 4%. Despite challenges from ongoing renovations and adverse weather conditions, demand in urban markets remains strong.
The Viceroy Santa Monica has completed a comprehensive $21 million renovation, led by award-winning design studio EDG. This transformation includes entirely new guestrooms and suites, redesigned common areas, and an extensive outdoor space featuring the signature restaurant, Sugar Palm. The hotel celebrates local artistry with a curated art collection and promotes sustainability by repurposing materials and emphasizing plant-based dining. CEO Bill Walshe expressed excitement about the reimagined hotel, which aims to enhance guest experiences through luxury and immersive environments. Situated on Ocean Avenue, the Viceroy remains a prominent lifestyle hotel in Santa Monica, offering access to various attractions and beachside leisure.
Pebblebrook Hotel Trust (NYSE: PEB) is set to release its financial results for Q1 2023 on April 26, 2023, after market close. A conference call will follow on April 27, 2023, at 10:00 AM ET, available via phone and a live webcast on their website. Pebblebrook, the largest owner of urban and resort lifestyle hotels in the U.S., currently holds 49 hotels with around 12,500 guest rooms. These results will reflect the company’s operational performance as it continues to navigate the hospitality market.
Pebblebrook Hotel Trust (NYSE: PEB) announced the sale of Hotel Colonnade Coral Gables for $63 million on March 28, 2023. The hotel generated a net operating income of $4.1 million and Hotel EBITDA of $4.8 million for the trailing twelve months ended December 31, 2022. The sale price reflects a 15.4x EBITDA multiple and a 5.5% net operating income capitalization rate. Proceeds from the sale will be utilized for general corporate purposes, including potential debt reduction and equity share buybacks. Pebblebrook Hotel Trust is a leading REIT with 49 hotels and resorts across 14 markets.
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