Pebblebrook Q2 net income $32.2M; Adj FFO per share $0.69 (+11.3%); raises 2024 guidance

Pebblebrook Hotel Trust

2024-Q2 EPS reported -$0.16 revenue$711,179,000

Same-Property Total RevPAR +2.5% vs Q2 2023; urban +3.4%, resort +0.6%.
Adjusted EBITDAre $123.5M (+6.2% YoY); Same-Property EBITDA $117.2M (+8.9% YoY).
2024 outlook raise: Adjusted EBITDAre $351-360M; Adj FFO/sh $1.59-$1.67 (midpoint +$0.08).
LaPlaya Beach Resort Q2 EBITDA $7.0M; booked $7.3M business interruption income, $3.3M above outlook.
Le Méridien Delfina Santa Monica to rebrand to Hyatt Centric in mid-September 2024.

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