pebblebrook hotel trust
The Historic Jekyll Island Club Resort Unveils $25 Million Transformation
Jekyll Island Club Resort | March 18, 2024
Jekyll Ocean Club Embarks on a Program of Luxury Upgrades JEKYLL ISLAND, Ga. (March 18, 2024) — The iconic Jekyll Island Club Resort unveiled a stunning $25 million transformation, ushering in a new era for this famed private winter retreat of America’s elite. The expansive reimagining touches every aspect of the resort, including its sprawling grounds, luxurious accommodations, and beloved culinary establishments reflecting the styles of the Gilded Age and the Roaring Twenties. The resort’s evolution introduces a new, vibrant kind of elegance and encompasses guest rooms, riverside and oceanfront pools with cabanas, an array of exq...
Pebblebrook Hotel Trust Announces the 12th Annual Pebby Award Winners
Pebblebrook Hotel Trust | March 12, 2024
Celebrating the Year’s Best Hotels HOLLYWOOD, Calif.--Pebblebrook Hotel Trust (NYSE: PEB) (the “Company” or “Pebblebrook”) today announced the winners of its Twelfth Annual Pebby Awards. The Pebby Award winners were chosen for their outstanding accomplishments in 2023, as determined by Pebblebrook’s selection committee. “As we celebrate our twelfth year of the Pebby Awards, we’ve witnessed an unprecedented level of competition and excellence,” said Jon E. Bortz, Chairman and Chief Executive Officer of Pebblebrook Hotel Trust. “Our hotel teams have consistently exemplified exceptional performance and leadership, and it�...
Newport Harbor Island Resort To Reopen in April 2024 Following $50 Million Transformation
Newport Harbor Island Resort | February 7, 2024
The reimagined resort invites travelers to discover waterfront well-being in contemporary New England-inspired spaces beginning April 15 NEWPORT, RI. – Newport Harbor Island Resort, a quintessential New England coastal destination and the only resort on Goat Island, announces its grand reopening on April 15 following a full reimagination. Owned by Pebblebrook Hotel Trust and operated by Davidson Resorts, the $50 million renovation marks a new era for the former Gurney’s property, comprised of refreshed, expansive guestrooms and suites, contemporary Spa, re-concepted culinary experiences, meeting spaces, and 22-slip marina. David Smile...
Pebblebrook Hotel Trust Announces the 12th Annual Pebby Award Nominations
Pebblebrook Hotel Trust | January 26, 2024
HOLLYWOOD, Calif.-- Pebblebrook Hotel Trust (NYSE: PEB) (the “Company”) today announced the nominations for its Twelfth Annual Pebby Awards. The Pebby Award nominees were chosen for their outstanding accomplishments in 2023, as determined by Pebblebrook’s selection committee. The 2024 Pebby Award nominees represent a diverse array of urban hotels and resorts. Leading the pack with multiple nominations are prestigious properties like Hotel Monaco Washington DC, The Westin Copley Place, Boston, and 1 Hotel San Francisco. This year's lineup not only showcases excellence but also sets the stage for what is anticipated to be the most rive...
Pebblebrook Hotel Trust Completes Sale of Hotel Zoe Fisherman’s Wharf
Pebblebrook Hotel Trust | November 15, 2023
BETHESDA, Md.--Pebblebrook Hotel Trust (NYSE: PEB) (the “Company”) announced today that on November 14, 2023, it closed on the sale of the 221-room Hotel Zoe Fisherman’s Wharf in San Francisco, California for $68.5 million to a third party. For the trailing twelve months ended September 30, 2023, the hotel’s net loss was ($1.2) million, its net operating income was $2.2 million, and its earnings before interest, taxes, depreciation and amortization (“EBITDA”) was $2.7 million. The $68.5 million sales price reflects a 25.0x EBITDA multiple and a 3.2% net operating income capitalization rate (assuming a capital reserve of 4.0% of...
Pebblebrook Hotel Trust Executes Contract to Sell 221-Room Hotel Zoe Fisherman’s Wharf for $68.5M
Pebblebrook Hotel Trust | October 16, 2023
BETHESDA, Md. -- Pebblebrook Hotel Trust (NYSE: PEB) (the “Company”) announced today that it executed a contract to sell the 221-room Hotel Zoe Fisherman’s Wharf in San Francisco, California for $68.5 million to a third party. The property sale is subject to normal closing conditions. The Company offers no assurances that the sale will be completed on these terms or at all. The sale is targeted to be completed later in the fourth quarter of 2023. For the trailing twelve months ended September 30, 2023, the hotel’s net loss is estimated at ($1.2) million, its net operating income is estimated at $2.2 million, and its earnings before...
Pebblebrook Hotel Trust Completes Sale of Hotel Vintage Seattle
Pebblebrook Hotel Trust | May 30, 2023
BETHESDA, Md.-- Pebblebrook Hotel Trust (NYSE: PEB) (the “Company”) announced that on May 24, 2023, it closed on the sale of the 125-room Hotel Vintage Seattle in Seattle, WA for $33.7 million to a third party. For the trailing twelve months ended March 31, 2023, the hotel’s net operating income was $0.8 million, and its Hotel EBITDA was $1.1 million, with the $33.7 million sales price reflecting a 31.0x EBITDA multiple and a 2.3% net operating income capitalization rate. Based on the hotel’s operating performance for 2019, the $33.7 million sales price reflects an 11.2x EBITDA multiple and a 7.3% net operating income capitalizatio...
Pebblebrook Hotel Trust Completes Sale of The Hotel Monaco Seattle
Pebblebrook Hotel Trust | May 10, 2023
BETHESDA, Md.-- Pebblebrook Hotel Trust (NYSE: PEB) (the “Company”) 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’s 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’s operating performance for 2019, the $63.3 million sales price reflects an 11.4x EBITDA multiple and a 7.6% net operating income capitalization ...
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