Welcome to our dedicated page for Pebblebrok Hotel news (Ticker: PEB), a resource for investors and traders seeking the latest updates and insights on Pebblebrok Hotel 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) 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.
Curator Hotel & Resort Collection has expanded with the addition of eight new hotels, boosting its portfolio to 96 properties across 48 destinations. Notable additions include The Olive Ann in Grand Forks, North Dakota, which is under development and set to open in fall 2023, and multiple hotels in California and Florida. This expansion highlights Curator's commitment to providing innovative technology and operational support, enhancing cost-saving opportunities for member hotels. The group is approaching 100 preferred agreements across various categories, indicating strong growth potential.
Pebblebrook Hotel Trust (NYSE: PEB) announced a quarterly cash dividend of $0.01 per common share, payable on January 17, 2023, to shareholders on record as of December 30, 2022.
The Board declared quarterly cash dividends for preferred shares as follows: $0.39844 (Series E), $0.39375 (Series F), $0.39844 (Series G), and $0.35625 (Series H), all payable on January 17, 2023.
Pebblebrook Hotel Trust (NYSE: PEB) reported Q3 financial highlights with a net income of $26.3 million, showing a remarkable recovery. Same-Property RevPAR surged by 45.9% versus 2021, and 1.3% compared to 2019. Total revenues reached $403.9 million, exceeding 2021 by 44.2% and 2019 by 2.5%. Despite Hurricane Ian causing an estimated $2 million revenue loss, urban markets saw strong demand, especially in cities like San Francisco and Chicago. The company completed sales of three properties for $183.9 million and refinanced $2 billion, enhancing liquidity. Adjusted FFO per diluted share rose to $0.66.
Pebblebrook Hotel Trust (NYSE: PEB) has released an update on its recent operating trends, confirming its position as the largest owner of urban and resort lifestyle hotels in the United States. The Company owns 51 hotels and resorts, totaling approximately 12,800 guest rooms across 15 markets. For detailed information on the current operating trends, stakeholders can access the updated presentation on its official website.
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