Pebblebrook Hotel Trust Completes Sale of Villa Florence San Francisco on Union Square
Pebblebrook Hotel Trust (NYSE: PEB) has successfully closed the sale of the 189-room Villa Florence San Francisco for $87.5 million. This sale represents a notable 12.4x EBITDA multiple and a 7.2% net operating income capitalization rate. Proceeds from this transaction will be allocated for general corporate purposes and to acquire additional hotel properties, aligning with the company's investment strategy. Pebblebrook is the largest owner of urban and resort lifestyle hotels in the U.S., operating 51 hotels with approximately 12,600 guest rooms across 14 markets.
- Sale of Villa Florence San Francisco for $87.5 million enhances liquidity.
- 12.4x EBITDA multiple indicates strong market interest.
- Proceeds will support the company's investment strategy.
- None.
Based on the hotel’s operating performance for 2019, the
Proceeds from the sale of
About
For additional information or to receive press releases via email, please visit our website at www.pebblebrookhotels.com
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This press release includes certain non-GAAP financial measures as defined under The Company has presented trailing twelve-month hotel EBITDA and trailing twelve-month hotel net operating income after capital reserves and an estimated adjustment for the annualized impact of current retail rental income and a one-time termination fee because it believes these measures provide investors and analysts with an understanding of the hotel-level operating performance. These non-GAAP measures do not represent amounts available for management’s discretionary use, because of needed capital replacement or expansion, debt service obligations or other commitments and uncertainties, nor are they indicative of funds available to fund the Company’s cash needs, including its ability to make distributions. The Company’s presentation of the hotel’s trailing twelve-month EBITDA and trailing twelve-month net operating income after capital reserves should not be considered as an alternative to net income (computed in accordance with GAAP) as an indicator of the hotel’s financial performance. The table above is a reconciliation of the hotel’s trailing twelve-month EBITDA and net operating income after capital reserves calculations to net income in accordance with GAAP. Any differences are a result of rounding. |
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These historical hotel operating results include information for all of the hotels the Company owned as of The information above has not been audited and has been presented only for comparison purposes. |
View source version on businesswire.com: https://www.businesswire.com/news/home/20210909006136/en/
Source:
FAQ
What did Pebblebrook Hotel Trust announce regarding Villa Florence San Francisco?
What is the EBITDA multiple of the Villa Florence sale?
How will Pebblebrook use the proceeds from the Villa Florence sale?
What is the net operating income capitalization rate from the Villa Florence sale?