Pebblebrook Hotel Trust 2023 net loss $74.3M; Q4 beats outlook; 2024 guidance issued

Pebblebrook Hotel Trust

2023-FY EPS reported -$0.93 revenue$1,419,949,000

Net loss for 2023 of $74.3M; Adjusted FFO per diluted share $1.60 vs $1.69 in 2022.
Same-Property Total RevPAR up 5.9% in 2023; Q4 Same-Property Total RevPAR up 5.7%, beating top of outlook.
Sold 7 properties for ~$331M in 2023; proceeds used to reduce debt and repurchase shares.
Extended $357M of $460M Oct 2024 term loan to 2028; paid down $157.6M debt, including $110M of 2024/2025 maturities.
2024 outlook: net loss $62-47M; Same-Property Hotel EBITDA $345-360M; Adjusted FFO per share $1.49-$1.61; capex $85-90M.

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 0.95

Pebblebrook Hotel Trust reported three months and year ended December 31, 2023 results: net income Net loss: $74.3 million. Guidance initiated.

Period: three months and year ended December 31, 2023
Net income: Net loss: $74.3 million
Guidance: initiated
Result: reported results

Exact text from the filing

On February 21, 2024, Pebblebrook Hotel Trust (the “Company”) issued a press release announcing the Company’s results of operations for the three months and year ended December 31, 2023.

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Pebblebrook Hotel Trust filing history →

Source: SEC EDGAR

accession 0001474098-24-000042

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