Pebblebrook Hotel Trust to Sell LA’s 132-Room Hotel Amarano Burbank for $72.9M
Pebblebrook Hotel Trust | June 3rd, 2019
Pebblebrook Hotel Trust Completes Sale of Boston’s Onyx Hotel for $58.3 Million
Pebblebrook Hotel Trust | May 30th, 2019
pebblebrook hotel trust
Pebblebrook Hotel Trust to Sell LA’s 132-Room Hotel Amarano Burbank for $72.9M
Pebblebrook Hotel Trust | June 3, 2019
BETHESDA, Md.-- 6/3/2019 -- Pebblebrook Hotel Trust (NYSE: PEB) (the "Company") today announced that it executed a contract to sell the 132-room Hotel Amarano Burbank in Los Angeles, California for approximately $72.9 million to a third party. The contracted sale price reflects a 15.8x EBITDA multiple and a 5.7% net operating income capitalization rate (after an assumed annual capital reserve of 4.0% of total hotel revenues) based on the hotel's operating performance for 2018. Based on the trailing 12-month period ended March 2019, the contracted sales price reflects a 16.9x EBITDA multiple and a 5.3% net operating income capitalization ra...
Pebblebrook Hotel Trust Completes Sale of Boston’s Onyx Hotel for $58.3 Million
Pebblebrook Hotel Trust | May 30, 2019
5/30/2019 -- BETHESDA, Md. -- Pebblebrook Hotel Trust (NYSE: PEB) (the "Company") announced that it closed on the sale of the 112-room Onyx Hotel in Boston, Massachusetts for $58.3 million on May 29, 2019. The sale price of $58.3 million reflects a 15.3x EBITDA multiple and a 5.9% net operating income capitalization rate (after an assumed annual capital reserve of 4.0% of total hotel revenues) based on the hotel's operating performance for 2018. Proceeds from the sale of the Onyx Hotel will be utilized for general business purposes which may include reducing the Company's outstanding debt. As a result of this completed sale, the Company...
As Restaurants Evolve, The Core Experience Remains
Larry Mogelonsky | May 29, 2019
By Larry Mogelonsky, MBA, P. Eng. (www.hotelmogel.com) Up until the hospitality industry started to change over half a century ago, everyone was accustomed to believing that a city's best restaurant would be found at a luxury hotel downtown. Such a property's premier restaurant would often serve as a perennial draw for both out-of-towners as well as locals, with reservations coveted and those seated immediately bestowing status upon their patrons. For today's more spontaneous, less formal, less pretentious, more parsimonious and Google-Yelp-TripAdvisor-driven culture, dining out is as popular as ever but we've blunted the experience in ...
BENCHMARK® Adds Washington’s Skamania Lodge to Management Portfolio
The Columbia River Gorge | May 23, 2019
The Woodlands (Houston), Texas, May 2019 … BENCHMARK®, a global hospitality company, has announced that Skamania Lodge, in Stevenson, Washington, has joined its expanding Benchmark Resorts & Hotels portfolio. The 258-guest room Skamania Lodge is set on 175 densely forested acres overlooking the Columbia River Gorge National Scenic Area, just 45 minutes from Portland, Oregon. The resort, owned by Pebblebrook Hotel Trust, is renowned for its Cascadian style architecture, natural woods, state-of-the-art conference center built to IACC standards, authentic Northwestern cuisine, and awe-inspiring, 360-degree Gorge views. Besides its a...
Lodging Interactive Launches PULSE Reputation Management Platform for Hotels & Restaurants
Lodging Interactive | April 2, 2019
PARSIPPANY, NJ - April 2, 2019 - Lodging Interactive, an award-winning digital marketing and social media engagement agency exclusively serving the hospitality industry, today announced the launch of its PULSE Reputation Management Platform for hotels and restaurants. PULSE enables customers 24/7, real-time access to their guest review data and management responses. "PULSE provides our commingle:engage reputation management customers with a modern and visually enticing way to monitor and view guest reviews along with the guest review responses we've written for them. Additionally, customers can easily review their sentiment analysis sor...
Indonesia’s Bawah Reserve Appoints Raymond Saja as General Manager
Bawah Reserve | February 26, 2019
New York, NY (February 25, 2019) - Bawah Reserve, a pristine paradise of 6 private islands in Indonesia's Anambas Archipelago, is thrilled to announce the appointment of Raymond Saja as the new General Manager. In his new role Raymond will look to position the resort as the "new" Maldives with a strong emphasis on wellness, sustainability, eco-awareness and a successful balance with luxury. Saja aims to ensure guests have an indulgent private island experience while simultaneously educating and raising awareness around the property's strong commitment to conservation stewardship and sustainability. Singapore Airlines has launched a dire...
U.S. Lodging Outlook Good Through 2020, Economic “Blip” Causes Slowdown In 2021 Before Returning to Positive Growth for 2022
CBRE Group, Inc. | February 25, 2019
Atlanta – February 25, 2019 – A favorable economic outlook will lead to continued growth in U.S. hotel revenues and profits through 2020. However, an economic slowdown in 2021 will cause a short-lived softening of lodging industry fundamentals that year. According to the March 2019 edition of Hotel Horizons®, CBRE Hotels Americas Research is forecasting U.S. hotel rooms revenue per available room (RevPAR) to increase by 2.5 percent in 2019 and an additional 2.0 percent in 2020. However, for 2021, CBRE is projecting a slight decline in RevPAR of 0.6 percent. Fortunately for hoteliers, that immediately is followed by 1.4 p...
Compensation for US CEOs in Lodging: Fair Pay Is a Real Issue
Keith Kefgen | February 18, 2019
(February 18, 2019) - AETHOS New York Managing Director Keith Kefgen, in his annual review of CEO compensation for a variety of hospitality disciplines, shares candid insights as a result of his latest look at CEOs of U.S. lodging companies: "What we have found over the twenty years of studying CEO pay, is that the many public boards did a poor job at linking CEO pay to company performance," observes Kefgen. "In fact, that was the goal of creating our pay-for-performance model." The AETHOS Pay-for-Performance Model analyzes key financial metrics such as market capitalization, stock appreciation, EBITDA growth, and to...
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