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 announced a quarterly cash dividend of $0.01 per common share, payable on April 17, 2023, to shareholders of record as of March 31, 2023. Additionally, the Company declared regular quarterly cash dividends on its preferred shares, including $0.39844 for Series E, $0.39375 for Series F, $0.39844 for Series G, and $0.35625 for Series H, all payable on the same date. Pebblebrook operates 50 hotels, totaling around 12,600 guest rooms across various markets, emphasizing its position as a significant player in the urban and resort hotel sector.
Pebblebrook Hotel Trust (NYSE: PEB) announced the sale of The Heathman Hotel in Portland, OR for $45.0 million on February 22, 2023. The sale reflects a 10.7x EBITDA multiple and an 8.4% net operating income capitalization rate based on the hotel's 2019 performance. For the trailing twelve months ending December 31, 2022, the hotel generated a net operating income of $1.0 million and Hotel EBITDA of $1.2 million, after accounting for a 4.0% annual capital reserve. Proceeds will be utilized for general corporate purposes, including potential debt reduction and share repurchases.
Pebblebrook Hotel Trust (NYSE: PEB) reported a net loss of ($85.0) million for 2022, with a significant Same-Property Total RevPAR increase of 65.1% compared to 2021, recovering 93.0% to 2019 levels. Same-Property EBITDA reached $391.0 million, up 123.0% from 2021. In Q4 2022, net loss was ($39.9) million, with Total RevPAR up 27.9% year-over-year. The company acquired properties for $330.0 million and executed a contract to sell The Heathman Hotel for $45.0 million. Looking ahead, Q1 2023 anticipates a net loss between ($48.6) and ($43.6) million, with Same-Property RevPAR expected to rise 15.0% to 18.0% versus 2022.
Curator Hotel & Resort Collection has expanded its portfolio by adding three new properties: South Congress Hotel in Austin, Texas, Silverado Resort and Spa in Napa Valley, California, and Saybrook Point Resort & Marina in Old Saybrook, Connecticut. This brings Curator's total to 98 members, enhancing its presence in key markets. The new properties align with top travel trends, offering unique experiences and local culture. Jennifer Barnwell, President of Curator, emphasized the growing demand for unique and memorable stays. Curator, founded by Pebblebrook Hotel Trust, partners with leading hotel operators to enhance guest experiences.
Pebblebrook Hotel Trust (NYSE: PEB) announced tax treatment for its 2022 distributions to common and preferred shareholders. The total distribution per share included ordinary dividends and capital gain distributions, with amounts ranging from $0.010000 to $0.398440 across various dates. Key payment dates include January 18, April 15, July 15, October 17 in 2022, and January 17, 2023. Shareholders are advised to consult tax advisors for specific treatment of distributions. As a leader in urban and resort lifestyle hotels, Pebblebrook currently owns 51 hotels with approximately 12,800 rooms nationwide.
Pebblebrook Hotel Trust (NYSE: PEB) recently released preliminary operating trends and financial results for Q4 and full year 2022. The Company reported a net loss of $41 million for Q4 and $87 million for the full year. Adjusted EBITDAre for Q4 was $56 million, exceeding prior expectations. Adjusted FFO stood at $24 million for Q4, also higher than previously forecasted. The Same Property RevPAR for Q4 was $174, reflecting a slight variance from previous projections. Additionally, the Company announced the planned sale of The Heathman Hotel for $45 million, targeted for completion in Q1 2023, pending normal closing conditions.
Pebblebrook Hotel Trust (NYSE: PEB) announced it will report its financial results for Q4 2022 on February 21, 2023, after market close. A conference call will follow on February 22, 2023, at 9:00 AM ET. Participants can join by calling (877) 407-3982. The live webcast will be accessible on the company's website. Pebblebrook is the largest owner of urban and resort lifestyle hotels in the U.S., with 51 hotels and approximately 12,800 guest rooms across 15 markets.
Pebblebrook Hotel Trust (NYSE: PEB) revised its Q4 2022 financial outlook, anticipating a net loss of $39.9 million, an increase from the prior estimate of $35.9 million. Adjusted EBITDAre is projected between $52.0 million and $56.0 million, down from $63.8 million to $71.8 million previously. The company reported that Same Property RevPAR will likely decrease by $10 to $13 compared to earlier forecasts. Factors affecting performance include Hurricane Nicole and weakened demand. The LaPlaya Beach Resort is currently closed for repairs, with a partial reopening expected in Q1 2023.
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