secwatch.observer — SEC 8-K summary
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Issuer:     Pebblebrook Hotel Trust (PEB)
CIK:        0001474098
Form:       8-K
Filed at:   2024-10-31T23:59:59+00:00
Accession:  0001474098-24-000127
Event type: other_material
Sentiment:  negative
Materiality: 0.60
Item codes: 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1474098/000147409824000127/0001474098-24-000127-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1474098/000147409824000127/peb-20241030.htm
  HTML page:      https://secwatch.observer/filing/0001474098-24-000127

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