Pebblebrook Hotel Trust Q2 net income $46.2M, Adjusted FFO $0.62 beats outlook; Q3 RevPAR flat to down

Pebblebrook Hotel Trust

2023-Q2 EPS reported $0.00 revenue$690,062,000

Net income $46.2M; Adjusted EBITDAre $116.2M and Adjusted FFO $0.62/diluted share, both exceeded Q2 outlook.
Same-Property RevPAR +0.6% YoY; urban markets up 6.0% (San Francisco, LA, DC, Chicago, Portland).
Repurchased 3.6M common shares for $50.0M during Q2.
Q3 2023 outlook: Net income $14.6-$20.6M; Adj. EBITDAre $110-$116M; Adj. FFO $0.56-$0.61/share.
Sold Hotel Monaco Seattle ($63.3M) and Hotel Vintage Seattle ($33.7M); invested $52.5M in capex.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Pebblebrook Hotel Trust reported the three months ended June 30, 2023 results: net income $46.2 million.

Period: the three months ended June 30, 2023
Net income: $46.2 million
Result: reported results

Exact text from the filing

EBBLEBROOK HOTEL TRUST REPORTS SECOND QUARTER 2023 RESULTS Q2 FINANCIAL HIGHLIGHTS ▪ Net income: $46.2 million ▪ Same-Property Total RevPAR (1) increased 0.6% vs. 2022, with urban markets up 6.0%, leading the portfolio’s growth ▪ Same-Property EBITDA of $110.7 million, in line with our previous Q2 Outlook ▪ Adjusted EBITDAre (1) of $116.2 million and Adjusted FFO (1) per diluted share of $0.62, both exceeded our Q2 Outlook ▪ Repurchased 3.6 million common shares for $50.0 million during the quarter HOTEL OPERATING TRENDS § Business demand, both group and transient, continues to recover; strong occupancy gains in San Francisco, Los Angeles, Washington DC, Chicago, and Portland § Group revenue pace for the second half of 2023 is ahead a robust 18.5% over the same period in 2022, with ADR ahead by 7.3% § Leisure demand continues to be healthy, with weekend occupancy ahead of the same period

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Pebblebrook Hotel Trust reported Q3 2023 results: net income $14.6 to $20.6 million. Guidance initiated.

Period: Q3 2023
Net income: $14.6 to $20.6 million
Guidance: initiated
Result: guidance update

Exact text from the filing

sitioning projects at Viceroy Santa Monica Hotel, Hilton San Diego Gaslamp Quarter, Jekyll Island Club Resort, Estancia La Jolla Hotel & Spa, and the conversion of Hotel Solamar into Margaritaville Hotel San Diego Gaslamp Quarter Q3 2023 OUTLOOK § Net income: $14.6 to $20.6 million § Same-Property RevPAR (1) vs. 2022: (2.0%) to +1.0% § Adjusted EBITDA re (1) : $110.0 to $116.0 million § Adjusted FFO (1) per diluted share: $0.56 to $0.61 (1) See tables later in this press release for a description of Same-Property information and reconciliations from net income (loss) to

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Source: SEC EDGAR

accession 0001474098-23-000134

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