Pebblebrook Hotel Trust Provides Update on Impact of Hurricane Helene
Pebblebrook Hotel Trust (NYSE: PEB) has provided an update on the impact of Hurricane Helene on several of its resorts. The 189-room LaPlaya Beach Resort & Club in Naples, Florida, was affected, with two of its three buildings currently operational. The Beach House, containing 79 guestrooms, is closed for repairs due to water infiltration. The company expects repair costs to be non-material and largely covered by insurance.
The Jekyll Island Club Resort in Georgia experienced minor damage and a temporary power outage but is now operating normally. Other Pebblebrook resorts in southern Florida affected by the hurricane are fully operational. The company anticipates that overall repair and remediation costs, net of insurance payments, will not be material. Pebblebrook's management teams have been praised for their efforts in protecting guests and mitigating property damage during the storm.
Pebblebrook Hotel Trust (NYSE: PEB) ha fornito un aggiornamento sull'impatto dell'uragano Helene su diversi dei suoi resort. Il LaPlaya Beach Resort & Club di Naples, Florida, è stato colpito, con due dei tre edifici attualmente operativi. La Beach House, che contiene 79 camere, è chiusa per riparazioni a causa di infiltrazioni d'acqua. La società prevede che i costi di riparazione non siano significativi e saranno principalmente coperti dall'assicurazione.
Il Jekyll Island Club Resort in Georgia ha subito danni minori e una temporanea interruzione di corrente, ma ora opera normalmente. Altri resort Pebblebrook nella Florida meridionale colpiti dall'uragano sono completamente operativi. L'azienda prevede che i costi complessivi di riparazione e ripristino, al netto dei pagamenti assicurativi, non siano materiali. I team di gestione di Pebblebrook sono stati elogiati per i loro sforzi nel proteggere gli ospiti e mitigare i danni alle proprietà durante la tempesta.
Pebblebrook Hotel Trust (NYSE: PEB) ha proporcionado una actualización sobre el impacto del huracán Helene en varios de sus complejos turísticos. El LaPlaya Beach Resort & Club en Naples, Florida, se vio afectado, con dos de sus tres edificios actualmente operativos. La Beach House, que cuenta con 79 habitaciones, está cerrada para reparaciones debido a infiltraciones de agua. La empresa espera que los costos de reparación no sean significativos y que estén mayormente cubiertos por el seguro.
El Jekyll Island Club Resort en Georgia experimentó daños menores y un corte temporal de electricidad, pero ahora opera con normalidad. Otros resorts de Pebblebrook en el sur de Florida afectados por el huracán están totalmente operativos. La empresa anticipa que los costos totales de reparación y remediación, después de los pagos del seguro, no serán significativos. Se ha elogiado a los equipos de gestión de Pebblebrook por sus esfuerzos para proteger a los huéspedes y mitigar los daños a la propiedad durante la tormenta.
Pebblebrook Hotel Trust (NYSE: PEB)는 여러 리조트에 대한 허리케인 헬렌의 영향에 대한 업데이트를 제공했습니다. 플로리다 네이플스에 위치한 LaPlaya Beach Resort & Club는 영향을 받았으며, 현재 세 개 건물 중 두 개가 운영되고 있습니다. 79개의 객실을 갖춘 비치 하우스는 물 침투로 인해 수리를 위해 폐쇄되었습니다. 회사는 수리 비용이 비물질적이며 대부분 보험에 의해 커버될 것으로 예상하고 있습니다.
조지아의 Jekyll Island Club Resort는 경미한 피해와 일시적인 정전이 있었지만 현재 정상 운영 중입니다. 허리케인에 의해 영향을 받은 플로리다 남부의 다른 Pebblebrook 리조트는 모두 운영 중입니다. 회사는 보험 지급액을 제외한 전체 수리 및 조치 비용이 물질적이지 않을 것이라고 예상하고 있습니다. Pebblebrook의 관리팀은 손님을 보호하고 폭풍 동안 재산 피해를 완화하기 위한 노력에 대해 칭찬을 받았습니다.
Pebblebrook Hotel Trust (NYSE: PEB) a fourni une mise à jour sur l'impact de l'ouragan Helene sur plusieurs de ses complexes. Le LaPlaya Beach Resort & Club à Naples, en Floride, a été touché, avec deux de ses trois bâtiments actuellement opérationnels. La Beach House, contenant 79 chambres, est fermée pour des réparations en raison d'infiltrations d'eau. L'entreprise s'attend à ce que les coûts de réparation ne soient pas significatifs et soient en grande partie couverts par l'assurance.
Le Jekyll Island Club Resort en Géorgie a subi des dommages mineurs et une coupure de courant temporaire, mais fonctionne maintenant normalement. D'autres complexes Pebblebrook dans le sud de la Floride touchés par l'ouragan sont entièrement opérationnels. L'entreprise prévoit que les coûts globaux de réparation et de remise en état, nets des paiements d'assurance, ne seront pas matériels. Les équipes de gestion de Pebblebrook ont été louées pour leurs efforts pour protéger les clients et limiter les dommages matériels pendant la tempête.
Pebblebrook Hotel Trust (NYSE: PEB) hat ein Update über die Auswirkungen des Hurrikans Helene auf mehrere seiner Resorts bereitgestellt. Das LaPlaya Beach Resort & Club in Naples, Florida, war betroffen, wobei zwei von drei Gebäuden derzeit in Betrieb sind. Das Beach House mit 79 Gästezimmern ist aufgrund von Wasserinfiltration geschlossen und wird repariert. Das Unternehmen erwartet, dass die Reparaturkosten nicht erheblich sein werden und größtenteils durch die Versicherung gedeckt sind.
Das Jekyll Island Club Resort in Georgia hatte geringfügige Schäden und einen vorübergehenden Stromausfall, funktioniert jedoch nun wieder normal. Andere von dem Hurrikan betroffene Pebblebrook-Resorts im südlichen Florida sind voll funktionsfähig. Das Unternehmen erwartet, dass die Gesamtreparatur- und Sanierungskosten netto der Versicherungszahlungen nicht hoch sein werden. Die Führungsteams von Pebblebrook wurden für ihre Bemühungen gelobt, die Gäste zu schützen und die Sachschäden während des Sturms zu mindern.
- Two out of three buildings at LaPlaya Beach Resort & Club remain operational
- BALEEN Naples restaurant and LaPlaya Beach Club are open and accepting guests
- Jekyll Island Club Resort is now operating normally after minor damage
- Other affected resorts in southern Florida are fully operational
- Repair and remediation costs are expected to be non-material and largely covered by insurance
- 79-room Beach House at LaPlaya Beach Resort & Club is closed for repairs
- Potential business interruption at LaPlaya Beach Resort & Club during repair period
- Possible short-term revenue impact due to partial closure of LaPlaya Beach Resort & Club
Insights
The update from Pebblebrook Hotel Trust regarding Hurricane Helene's impact appears to be relatively benign for investors. The company's statement that "repair and remediation costs net of insurance payments are expected not to be material" is reassuring. However, there are some key points to consider:
- LaPlaya Beach Resort & Club in Naples, Florida, is the most affected property, with one building (Beach House) currently closed for repairs.
- Two out of three buildings at LaPlaya are operational, along with the main restaurant and beach club.
- The timing of the hurricane coincides with the low season for Naples, which should minimize revenue impact.
- Other properties, including Jekyll Island Club Resort, sustained minor damage and are now fully operational.
From a financial perspective, the scope of damage and expected insurance coverage suggest minimal impact on Pebblebrook's bottom line. However, investors should monitor for any potential business interruption losses or unexpected repair costs in the coming weeks. The company's proactive communication and swift response to the situation are positive indicators of management's ability to handle such events.
The 189-room LaPlaya Beach Resort & Club (“LaPlaya”), a luxury waterfront resort in
Currently, two of the three guestroom buildings at LaPlaya, including the Gulf Tower and Bay Tower, are open and operational. BALEEN
The 200-room Jekyll Island Club Resort in
The Company’s other resorts in southern
“We thank our management teams and associates at each of our properties impacted by Hurricane Helene, who have done a fantastic job protecting our guests—ensuring no injuries were sustained—preparing for the storm and mitigating property damage,” noted Jon Bortz, Chairman and Chief Executive Officer of Pebblebrook Hotel Trust. “Our thoughts are with the countless people and communities affected by this devastating storm. We will update our shareholders and stakeholders over the coming weeks as we learn more about the expected losses from property damage and potential business interruptions caused by the storm.”
About Pebblebrook Hotel Trust
Pebblebrook Hotel Trust (NYSE: PEB) is a publicly traded real estate investment trust (“REIT”) and the largest owner of urban and resort lifestyle hotels in
This press release contains certain “forward-looking statements” made pursuant to the safe harbor provisions of the Private Securities Reform Act of 1995. Forward-looking statements are generally identifiable by use of forward-looking terminology such as “may,” “will,” “should,” “potential,” “intend,” “expect,” “seek,” “anticipate,” “estimate,” “approximately,” “believe,” “could,” “project,” “predict,” “forecast,” “continue,” “assume,” “plan,” references to “outlook” or other similar words or expressions. These forward-looking statements relate to the cost to repair and remediate damaged property and the anticipated effects of insurance payments. These forward-looking statements are subject to various risks and uncertainties, many of which are beyond the Company’s control, which could cause actual results to differ materially from such statements. These risks and uncertainties include, but are not limited to, the state of the
For further information about the Company’s business and financial results, please refer to the “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and “Risk Factors” sections of the Company’s SEC filings, including, but not limited to, its Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, copies of which may be obtained at the Investor Relations section of the Company’s website at www.pebblebrookhotels.com.
All information in this press release is as of September 30, 2024. The Company undertakes no duty to update the statements in this press release to conform the statements to actual results or changes in the Company’s expectations.
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Raymond D. Martz, Co-President and Chief Financial Officer, Pebblebrook Hotel Trust - (240) 507-1330
Source: Pebblebrook Hotel Trust
FAQ
How did Hurricane Helene impact Pebblebrook Hotel Trust's properties?
What is the current status of LaPlaya Beach Resort & Club after Hurricane Helene?
Will the repair costs from Hurricane Helene significantly impact Pebblebrook Hotel Trust (PEB)?
How has the Jekyll Island Club Resort been affected by Hurricane Helene?
