Pebblebrook estimates $11.5M net loss impact from Hurricane Milton and other storms in 2024

Pebblebrook Hotel Trust

LaPlaya Beach Resort (Naples, FL) damaged; Gulf Tower (70 rooms) and Bay Tower (40 rooms) reopen Nov 1, Beach House (79 rooms) closed until Q1 2025.
Full-year 2024 net loss impact of $11.5M ($1.5M Q3, $10.0M Q4); Adjusted FFO per share impact of ($0.10).
All other southeast resorts fully operational with no material damage but had cancellations and reduced bookings.
Repair costs expected not material; property, flood, and business interruption insurance expected to substantially mitigate financial impact.
Same-Property RevPAR variance vs 2023 estimated at (30 bps) for FY 2024; Same-Property Hotel EBITDA impact ($3.7M).

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