Same-Property RevPAR Increased 3.6 Percent; Adjusted EBITDA Rose 31.4 Percent; Adjusted FFO Per Diluted Share Climbed 30.8 Percent

First Quarter Highlights

  • Same-Property RevPAR: Same-Property RevPAR in the first quarter of 2015 increased 3.6 percent over the same period of 2014 to $174.71. Same-Property ADR grew 6.3 percent from the first quarter of 2014 to $222.54. Same-Property Occupancy decreased 2.5 percent to 78.5 percent, primarily impacted negatively by renovations in the quarter.
  • Same-Property EBITDA: The Company’s hotels generated $46.2 million of Same-Property EBITDA for the quarter ended March 31, 2015, rising 10.9 percent compared with the same period of 2014. Same-Property Revenues increased 3.7 percent, while Same-Property Hotel Expenses rose just 1.4 percent. As a result, Same-Property EBITDA Margin for the first quarter of 2015 grew to 26.0 percent, representing an increase of 168 basis points.
  • Adjusted EBITDA: The Company’s Adjusted EBITDA rose to $38.8 million from $29.5 million in the prior year period, an increase of $9.3 million, or 31.4 percent.
  • Adjusted FFO: The Company’s Adjusted FFO climbed 44.4 percent to $24.4 million from $16.9 million in the prior year period.
  • Dividends: On March 16, 2015, the Company declared a regular quarterly cash dividend of $0.31 per share on its common shares, an increase of 35 percent from the prior quarterly dividend of $0.23 per share, a regular quarterly cash dividend of $0.4921875 per share on its 7.875% Series A Cumulative Redeemable Preferred Shares, a regular quarterly cash dividend of $0.50 per share on its 8.00% Series B Cumulative Redeemable Preferred Shares and a regular quarterly cash dividend of $0.40625 per share on its 6.50% Series C Cumulative Redeemable Preferred Shares.

To view full first quarter financial results please visit:

http://investor.pebblebrookhotels.com/file.aspx?IID=4243454&FID=29123130