BETHESDA, Md .– (BUSINESS WIRE) – Pebblebrook Hotel Trust (NYSE: PEB) (the “Company”) announced that on June 10, 2021, it completed the sale of its leasehold interest in The Roger New York in New York, NY with 194 rooms for US $ 19.0 Dollar has completed millions to third parties. Roger New York is subject to a long lease with a remaining term of around 23 years.
The proceeds from the sale of The Roger New York will be used for general corporate purposes including reducing the Company’s outstanding debt and / or acquiring and investing in hotel properties in accordance with the Company’s investment strategy.
About Pebblebrook Hotel Trust
Pebblebrook Hotel Trust (NYSE: PEB) is a publicly traded real estate investment trust (“REIT”) and the largest owner of lifestyle hotels in cities and resorts in the United States. The company owns 51 hotels with a total of approximately 12,600 guest rooms in 13 cities and holiday resorts, with a focus on the gateway cities on the west coast. For more information, visit www.pebblebrookhotels.com and follow us at @PebblebrookPEB.
For more information or to receive press releases by email, please visit our website at www.pebblebrookhotels.com
| Pebblebrook Hotel Trust | |||||||||||
| Historical operating data | |||||||||||
| (in millions of US dollars, excluding ADR and RevPAR) | |||||||||||
| (unchecked) | |||||||||||
| Historical operating data: | |||||||||||
|
First quarter |
|
Second quarter |
|
Third quarter |
|
Fourth quarter |
|
Full year |
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|
2019 |
|
2019 |
|
2019 |
|
2019 |
|
2019 |
|||
| Occupancy |
75% |
87% |
87% |
79% |
82% |
||||||
| ADR |
$ 250 |
$ 269 |
$ 264 |
$ 246 |
$ 258 |
||||||
| RevPAR |
$ 188 |
$ 233 |
$ 230 |
$ 193 |
$ 211 |
||||||
| Hotel income |
$ 313.9 |
$ 389.2 |
$ 382.3 |
$ 337.4 |
$ 1,422.8 |
||||||
| Hotel EBITDA |
$ 85.0 |
$ 142.6 |
$ 133.0 |
$ 97.9 |
$ 458.6 |
||||||
| Hotel EBITDA margin |
27.1% |
36.6% |
34.8% |
29.0% |
32.2% |
||||||
|
First quarter |
|
Second quarter |
|
Third quarter |
|
Fourth quarter |
|
Full year |
|||
|
2020 |
|
2020 |
|
2020 |
|
2020 |
|
2020 |
|||
| Occupancy |
56% |
3% |
20% |
21% |
25% |
||||||
| ADR |
$ 248 |
$ 264 |
$ 216 |
$ 195 |
$ 231 |
||||||
| RevPAR |
$ 139 |
$ 9 |
$ 44 |
$ 41 |
$ 58 |
||||||
| Hotel income |
$ 240.1 |
$ 22.0 |
$ 76.9 |
$ 74.0 |
$ 413.1 |
||||||
| Hotel EBITDA |
$ 37.4 |
(38.7) |
(16.9) |
(17.5) |
($ 35.6) |
||||||
| Hotel EBITDA margin |
15.6% |
(175.9%) |
(22.0%) |
(23.6%) |
(8.6%) |
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|
First quarter |
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|
2021 |
|||||||||||
| Occupancy |
20% |
||||||||||
| ADR |
$ 239 |
||||||||||
| RevPAR |
$ 47 |
||||||||||
| Hotel income |
$ 83.5 |
||||||||||
| Hotel EBITDA |
($ 14.2) |
||||||||||
| Hotel EBITDA margin |
(17.0%) |
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| These historic hotel operating results include information about all the hotels the company owned as of June 10, 2021 following the sale of The Roger New York. These historical operating results include periods prior to the Company’s ownership of the hotels. The above information does not reflect the company’s general and administrative expenses, interest expenses, property acquisition costs, depreciation, taxes and other expenses. Any differences result from rounding.
The information above has not been verified and is for comparison purposes only. |
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