{"id":757146,"date":"2023-05-10T07:11:27","date_gmt":"2023-05-10T11:11:27","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/pebblebrook-hotel-trust-completes-sale-of-the-hotel-monaco-seattle\/"},"modified":"2023-05-10T07:11:27","modified_gmt":"2023-05-10T11:11:27","slug":"pebblebrook-hotel-trust-completes-sale-of-the-hotel-monaco-seattle","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/pebblebrook-hotel-trust-completes-sale-of-the-hotel-monaco-seattle\/","title":{"rendered":"Pebblebrook Hotel Trust Completes Sale of The Hotel Monaco Seattle"},"content":{"rendered":"

<\/p>\n

Pebblebrook Hotel Trust Completes Sale of The Hotel Monaco Seattle<\/b><\/p>\n

BETHESDA, Md.–(BUSINESS WIRE<\/a>)–
\nPebblebrook Hotel Trust (NYSE: PEB) (the \u201cCompany\u201d) announced that on May 9, 2023, it closed on the sale of the 189-room Hotel Monaco Seattle in Seattle, WA for $63.3 million to a third party.<\/p>\n

\nFor the trailing twelve months ended March 31, 2023, the hotel\u2019s net operating income was $1.6 million, and its Hotel EBITDA was $2.1 million, with the $63.3 million sales price reflecting a 30.7x EBITDA multiple and a 2.5% net operating income capitalization rate. Based on the hotel\u2019s operating performance for 2019, the $63.3 million sales price reflects an 11.4x EBITDA multiple and a 7.6% net operating income capitalization rate. The net operating income for both periods mentioned above is after an assumed annual capital reserve of 4.0% of total hotel revenues.<\/p>\n

\nProceeds from the sale of Hotel Monaco Seattle will be used for general corporate purposes, which may include reducing the Company\u2019s outstanding debt and repurchasing common and preferred shares.<\/p>\n

About Pebblebrook Hotel Trust<\/span><\/b><\/p>\n

\nPebblebrook Hotel Trust (NYSE: PEB) is a publicly traded real estate investment trust (\u201cREIT\u201d) and the largest owner of urban and resort lifestyle hotels and resorts in the United States. The Company owns 48 hotels and resorts, totaling approximately 12,300 guest rooms across 14 urban and resort markets. For more information, visit www.pebblebrookhotels.com<\/a> and follow us at @PebblebrookPEB.<\/p>\n

This press release contains certain \u201cforward-looking statements\u201d made pursuant to the safe harbor provisions of the Private Securities Reform Act of 1995. Forward-looking statements are generally identifiable by the use of forward-looking terminology such as \u201cestimated\u201d and \u201cwill\u201d or other similar words or expressions. Forward-looking statements are based on certain assumptions and can include future expectations, future plans and strategies, financial and operating projections and forecasts and other forward-looking information and estimates. The intended use of proceeds is a forward-looking statement. These forward-looking statements are subject to various risks and uncertainties, many of which are beyond the Company\u2019s 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 U.S. economy, the operating performance of our hotels and the supply of hotel properties, and other factors as are described in greater detail in the Company\u2019s filings with the Securities and Exchange Commission, including, without limitation, the Company\u2019s Annual Report on Form 10-K for the year ended December 31, 2022. Unless legally required, the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.<\/i><\/p>\n

For further information about the Company\u2019s business and financial results, please refer to the \u201cManagement\u2019s Discussion and Analysis of Financial Condition and Results of Operations\u201d and \u201cRisk Factors\u201d sections of the Company\u2019s 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\u2019s website at <\/i>www.pebblebrookhotels.com<\/i><\/a>.<\/i><\/p>\n

All information in this press release is as of May 9, 2023. 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\u2019s expectations.<\/i><\/p>\n

For additional information or to receive press releases via email, please visit our website at <\/i>www.pebblebrookhotels.com<\/i><\/a>.<\/i><\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\u00a0<\/td>\n<\/tr>\n
\n

Pebblebrook Hotel Trust<\/b><\/p>\n<\/td>\n<\/tr>\n

\n

Hotel Monaco Seattle<\/b><\/p>\n<\/td>\n<\/tr>\n

\n

Reconciliation of Hotel Net Income to Hotel EBITDA and Hotel Net Operating Income<\/b><\/p>\n<\/td>\n<\/tr>\n

\n

March 2023 Trailing Twelve Months<\/b><\/p>\n<\/td>\n<\/tr>\n

\n

(Unaudited, in millions)<\/i><\/b><\/p>\n<\/td>\n<\/tr>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

Twelve Months Ended March 31,<\/b><\/p>\n<\/td>\n<\/tr>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

2023<\/b><\/p>\n<\/td>\n<\/tr>\n

\n\n\n\u00a0<\/td>\n<\/tr>\n
Hotel net income<\/td>\n\n\n\n

\n$0.4<\/p>\n<\/td>\n<\/tr>\n

\n\n\n\u00a0<\/td>\n<\/tr>\n
Adjustment:<\/td>\n\n\n<\/tr>\n
Depreciation and amortization<\/td>\n\n\n\n

\n1.7<\/p>\n<\/td>\n<\/tr>\n

\n\n\n\u00a0<\/td>\n<\/tr>\n
Hotel EBITDA<\/td>\n\n\n\n

\n$2.1<\/p>\n<\/td>\n<\/tr>\n

\n\n\n\u00a0<\/td>\n<\/tr>\n
Adjustment:<\/td>\n\n\n<\/tr>\n
Capital reserve<\/td>\n\n\n\n

\n(0.5)<\/p>\n<\/td>\n<\/tr>\n

\n\n\n\u00a0<\/td>\n<\/tr>\n
Hotel Net Operating Income<\/td>\n\n\n\n

\n$1.6<\/p>\n<\/td>\n<\/tr>\n

\n\n\n\u00a0<\/td>\n<\/tr>\n
\n\n\n\u00a0<\/td>\n<\/tr>\n
<\/tr>\n
\n\n\n\u00a0<\/td>\n<\/tr>\n
This press release includes certain non-GAAP financial measures as defined under Securities and Exchange Commission (SEC) rules. These measures are not in accordance with, or an alternative to, measures prepared in accordance with U.S. generally accepted accounting principles, or GAAP, and may be different from non-GAAP measures used by other companies. In addition, these non-GAAP measures are not based on any comprehensive set of accounting rules or principles. Non-GAAP measures have limitations in that they do not reflect all of the amounts associated with the hotel\u2019s results of operations determined in accordance with GAAP.<\/p>\n

The Company has presented estimated trailing twelve-month hotel EBITDA and estimated trailing twelve-month hotel net operating income after capital reserves 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\u2019s 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\u2019s cash needs, including its ability to make distributions.<\/p>\n

The Company\u2019s presentation of the hotel\u2019s estimated trailing twelve-month EBITDA and estimated 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\u2019s financial performance. The table above is a reconciliation of the hotel\u2019s estimated 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.
<\/i><\/td>\n<\/tr>\n<\/table>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

Pebblebrook Hotel Trust<\/b><\/p>\n<\/td>\n<\/tr>\n

\n

Hotel Monaco Seattle<\/b><\/p>\n<\/td>\n<\/tr>\n

\n

Reconciliation of Hotel Net Income to Hotel EBITDA and Hotel Net Operating Income<\/b><\/p>\n<\/td>\n<\/tr>\n

\n

December 2019 Trailing Twelve Months<\/b><\/p>\n<\/td>\n<\/tr>\n

\n

(Unaudited, in millions)<\/i><\/b><\/p>\n<\/td>\n<\/tr>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

Twelve months ended
\n
December 31,<\/b><\/p>\n<\/td>\n<\/tr>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

2019<\/b><\/p>\n<\/td>\n<\/tr>\n

\n\n\n\u00a0<\/td>\n<\/tr>\n
Hotel net income<\/td>\n\n\n\n

\n$3.8<\/p>\n<\/td>\n<\/tr>\n

\n\n\n\u00a0<\/td>\n<\/tr>\n
Adjustment:<\/td>\n\n\n<\/tr>\n
Depreciation and amortization<\/td>\n\n\n\n

\n1.8<\/p>\n<\/td>\n<\/tr>\n

\n\n\n\u00a0<\/td>\n<\/tr>\n
Hotel EBITDA<\/td>\n\n\n\n

\n$5.6<\/p>\n<\/td>\n<\/tr>\n

\n\n\n\u00a0<\/td>\n<\/tr>\n
Adjustment:<\/td>\n\n\n<\/tr>\n
Capital reserve<\/td>\n\n\n\n

\n(0.8)<\/p>\n<\/td>\n<\/tr>\n

\n\n\n\u00a0<\/td>\n<\/tr>\n
Hotel Net Operating Income<\/td>\n\n\n\n

\n$4.8<\/p>\n<\/td>\n<\/tr>\n

\n\n\n\u00a0<\/td>\n<\/tr>\n
\n\n\n\u00a0<\/td>\n<\/tr>\n
This press release includes certain non-GAAP financial measures as defined under Securities and Exchange Commission (SEC) rules. These measures are not in accordance with, or an alternative to, measures prepared in accordance with U.S. generally accepted accounting principles, or GAAP, and may be different from non-GAAP measures used by other companies. In addition, these non-GAAP measures are not based on any comprehensive set of accounting rules or principles. Non-GAAP measures have limitations in that they do not reflect all of the amounts associated with the hotel\u2019s results of operations determined in accordance with GAAP.<\/p>\n

The Company has presented trailing twelve-month hotel EBITDA and trailing twelve-month hotel net operating income after capital reserves 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\u2019s 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\u2019s cash needs, including its ability to make distributions.<\/p>\n

The Company\u2019s presentation of the hotel\u2019s 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\u2019s financial performance. The table above is a reconciliation of the hotel\u2019s 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.
<\/i><\/td>\n<\/tr>\n<\/table>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n

Pebblebrook Hotel Trust<\/b><\/p>\n<\/td>\n<\/tr>\n

\n\n

Historical Operating Data<\/b><\/p>\n<\/td>\n<\/tr>\n

\n\n

($ in millions, except ADR and RevPAR)<\/i><\/b><\/p>\n<\/td>\n<\/tr>\n

\n\n

(Unaudited)<\/i><\/b><\/p>\n<\/td>\n<\/tr>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\nHistorical Operating Data:<\/b><\/td>\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

First Quarter<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

Second Quarter<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

Third Quarter<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

Fourth Quarter<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

Full Year<\/b><\/p>\n<\/td>\n<\/tr>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

2019<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

2019<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

2019<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

2019<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

2019<\/b><\/p>\n<\/td>\n<\/tr>\n

\n\n\n\n\n\n\n\n\n\n\n\n\n\u00a0<\/td>\n<\/tr>\n
\nOccupancy<\/td>\n\n\n\n

\n75%<\/p>\n<\/td>\n

\n\n

\n86%<\/p>\n<\/td>\n

\n\n

\n86%<\/p>\n<\/td>\n

\n\n

\n77%<\/p>\n<\/td>\n

\n\n

81%<\/b><\/p>\n<\/td>\n<\/tr>\n

\nADR<\/td>\n\n\n\n

\n$255<\/p>\n<\/td>\n

\n\n

\n$275<\/p>\n<\/td>\n

\n\n

\n$271<\/p>\n<\/td>\n

\n\n

\n$251<\/p>\n<\/td>\n

\n\n

$264<\/b><\/p>\n<\/td>\n<\/tr>\n

\nRevPAR<\/td>\n\n\n\n

\n$190<\/p>\n<\/td>\n

\n\n

\n$236<\/p>\n<\/td>\n

\n\n

\n$233<\/p>\n<\/td>\n

\n\n

\n$193<\/p>\n<\/td>\n

\n\n

$213<\/b><\/p>\n<\/td>\n<\/tr>\n

\n\n\n\n\n\n\n\n\n\n\n\n\n\u00a0<\/td>\n<\/tr>\n
\nHotel Revenues<\/td>\n\n\n\n

\n$321.5<\/p>\n<\/td>\n

\n\n

\n$398.2<\/p>\n<\/td>\n

\n\n

\n$391.2<\/p>\n<\/td>\n

\n\n

\n$339.2<\/p>\n<\/td>\n

\n\n

$1,450.0<\/b><\/p>\n<\/td>\n<\/tr>\n

\nHotel EBITDA<\/td>\n\n\n\n

\n$86.1<\/p>\n<\/td>\n

\n\n

\n$141.6<\/p>\n<\/td>\n

\n\n

\n$132.6<\/p>\n<\/td>\n

\n\n

\n$92.0<\/p>\n<\/td>\n

\n\n

$452.3<\/b><\/p>\n<\/td>\n<\/tr>\n

\nHotel EBITDA Margin<\/td>\n\n\n

\n26.8%<\/p>\n<\/td>\n

\n\n

\n35.6%<\/p>\n<\/td>\n

\n\n

\n33.9%<\/p>\n<\/td>\n

\n\n

\n27.1%<\/p>\n<\/td>\n

\n\n

31.2%<\/b><\/p>\n<\/td>\n<\/tr>\n

\n\n\n\n\n\n\n\n\n\n\n\n\n\u00a0<\/td>\n<\/tr>\n
\n\n\n\n\n\n

First Quarter<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

Second Quarter<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

Third Quarter<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

Fourth Quarter<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

Full Year<\/b><\/p>\n<\/td>\n<\/tr>\n

\n\n\n\n\n\n

2022<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

2022<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

2022<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

2022<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

2022<\/b><\/p>\n<\/td>\n<\/tr>\n

\n\n\n\n\n\n\n\n\n\n\n\n\n\u00a0<\/td>\n<\/tr>\n
\nOccupancy<\/td>\n\n\n\n

\n49%<\/p>\n<\/td>\n

\n\n

\n69%<\/p>\n<\/td>\n

\n\n

\n73%<\/p>\n<\/td>\n

\n\n

\n59%<\/p>\n<\/td>\n

\n\n

62%<\/b><\/p>\n<\/td>\n<\/tr>\n

\nADR<\/td>\n\n\n\n

\n$314<\/p>\n<\/td>\n

\n\n

\n$327<\/p>\n<\/td>\n

\n\n

\n$326<\/p>\n<\/td>\n

\n\n

\n$294<\/p>\n<\/td>\n

\n\n

$316<\/b><\/p>\n<\/td>\n<\/tr>\n

\nRevPAR<\/td>\n\n\n\n

\n$152<\/p>\n<\/td>\n

\n\n

\n$226<\/p>\n<\/td>\n

\n\n

\n$237<\/p>\n<\/td>\n

\n\n

\n$175<\/p>\n<\/td>\n

\n\n

$198<\/b><\/p>\n<\/td>\n<\/tr>\n

\n\n\n\n\n\n\n\n\n\n\n\n\n\u00a0<\/td>\n<\/tr>\n
\nHotel Revenues<\/td>\n\n\n\n

\n$257.1<\/p>\n<\/td>\n

\n\n

\n$388.2<\/p>\n<\/td>\n

\n\n

\n$402.7<\/p>\n<\/td>\n

\n\n

\n$311.2<\/p>\n<\/td>\n

\n\n

$1,359.2<\/b><\/p>\n<\/td>\n<\/tr>\n

\nHotel EBITDA<\/td>\n\n\n\n

\n$59.9<\/p>\n<\/td>\n

\n\n

\n$136.0<\/p>\n<\/td>\n

\n\n

\n$128.7<\/p>\n<\/td>\n

\n\n

\n$61.1<\/p>\n<\/td>\n

\n\n

$385.7<\/b><\/p>\n<\/td>\n<\/tr>\n

\nHotel EBITDA Margin<\/td>\n\n\n

\n23.3%<\/p>\n<\/td>\n

\n\n

\n35.0%<\/p>\n<\/td>\n

\n\n

\n32.0%<\/p>\n<\/td>\n

\n\n

\n19.6%<\/p>\n<\/td>\n

\n\n

28.4%<\/b><\/p>\n<\/td>\n<\/tr>\n

\n\n\n\n\n\n\n\n\n\n\n\n\n\u00a0<\/td>\n<\/tr>\n
\n\n\n\n\n\n

First Quarter<\/b><\/p>\n<\/td>\n

\n\n\n\n\n\n\n<\/tr>\n
\n\n\n\n\n\n

2023<\/b><\/p>\n<\/td>\n

\n\n\n\n\n\n\n<\/tr>\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\u00a0<\/td>\n<\/tr>\n
\nOccupancy<\/td>\n\n\n\n

\n58%<\/p>\n<\/td>\n

\n\n\n\n\n\n\n<\/tr>\n
\nADR<\/td>\n\n\n\n

\n$301<\/p>\n<\/td>\n

\n\n\n\n\n\n\n<\/tr>\n
\nRevPAR<\/td>\n\n\n\n

\n$173<\/p>\n<\/td>\n

\n\n\n\n\n\n\n<\/tr>\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\u00a0<\/td>\n<\/tr>\n
\nHotel Revenues<\/td>\n\n\n\n

\n$298.0<\/p>\n<\/td>\n

\n\n\n\n\n\n\n<\/tr>\n
\nHotel EBITDA<\/td>\n\n\n\n

\n$58.8<\/p>\n<\/td>\n

\n\n\n\n\n\n\n<\/tr>\n
\nHotel EBITDA Margin<\/td>\n\n\n

\n19.7%<\/p>\n<\/td>\n

\n\n\n\n\n\n\n<\/tr>\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\u00a0<\/td>\n<\/tr>\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\u00a0<\/td>\n<\/tr>\n
\nThese historical hotel operating results include information for all of the hotels the Company owned as of May 9, 2023, following the sale of Hotel Monaco Seattle. These historical operating results include periods prior to the Company’s ownership of the hotels. The information above does not reflect the Company’s corporate general and administrative expense, interest expense, property acquisition costs, depreciation and amortization, taxes and other expenses. Any differences are a result of rounding.<\/p>\n

The information above has not been audited and has been presented only for comparison purposes.<\/i><\/td>\n<\/tr>\n<\/table>\n

\n\u00a0<\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20230510005244\/en\/<\/a><\/span><\/p>\n

\nRaymond D. Martz
\n
Chief Financial Officer
\n
Pebblebrook Hotel Trust
\n
(240) 507-1330<\/p>\n

KEYWORDS:<\/b> Maryland United States North America<\/p>\n

INDUSTRY KEYWORDS:<\/b> REIT Lodging Commercial Building & Real Estate Construction & Property Travel<\/p>\n

MEDIA:<\/b><\/p>\n\n\n\n\n
Logo<\/b><\/font><\/td>\n<\/tr>\n
\"Logo\"<\/td>\n<\/tr>\n
<\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

Pebblebrook Hotel Trust Completes Sale of The Hotel Monaco Seattle BETHESDA, Md.–(BUSINESS WIRE)– Pebblebrook Hotel Trust (NYSE: PEB) (the \u201cCompany\u201d) announced that on May 9, 2023, it closed on the sale of the 189-room Hotel Monaco Seattle in Seattle, WA for $63.3 million to a third party. For the trailing twelve months ended March 31, 2023, the hotel\u2019s net operating income was $1.6 million, and its Hotel EBITDA was $2.1 million, with the $63.3 million sales price reflecting a 30.7x EBITDA multiple and a 2.5% net operating income capitalization rate. Based on the hotel\u2019s operating performance for 2019, the $63.3 million sales price reflects an 11.4x EBITDA multiple and a 7.6% net operating income capitalization rate. The net operating income … <\/p>\n

Continue reading “Pebblebrook Hotel Trust Completes Sale of The Hotel Monaco Seattle”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-757146","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nPebblebrook Hotel Trust Completes Sale of The Hotel Monaco Seattle - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/pebblebrook-hotel-trust-completes-sale-of-the-hotel-monaco-seattle\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Pebblebrook Hotel Trust Completes Sale of The Hotel Monaco Seattle - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Pebblebrook Hotel Trust Completes Sale of The Hotel Monaco Seattle BETHESDA, Md.–(BUSINESS WIRE)– Pebblebrook Hotel Trust (NYSE: PEB) (the \u201cCompany\u201d) announced that on May 9, 2023, it closed on the sale of the 189-room Hotel Monaco Seattle in Seattle, WA for $63.3 million to a third party. For the trailing twelve months ended March 31, 2023, the hotel\u2019s net operating income was $1.6 million, and its Hotel EBITDA was $2.1 million, with the $63.3 million sales price reflecting a 30.7x EBITDA multiple and a 2.5% net operating income capitalization rate. Based on the hotel\u2019s operating performance for 2019, the $63.3 million sales price reflects an 11.4x EBITDA multiple and a 7.6% net operating income capitalization rate. 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