Pebblebrook sells Westin Michigan Avenue Chicago for $72M; updates 2025 outlook

Pebblebrook Hotel Trust

Closed sale of 752-room Westin Michigan Avenue Chicago on Dec 3, 2025 for $72M to a third party.
Trailing 12-month hotel EBITDA of $4.6M, NOI $2.5M; 15.6x EBITDA multiple, 3.5% NOI cap rate.
Proceeds intended for debt reduction (~$100M), preferred equity reduction (~$5M), and opportunistic share repurchases.
Updated 2025 outlook: Adjusted EBITDA narrowed to $332-341M from prior; Adjusted FFO per share unchanged at $1.50-$1.57.
Net debt to trailing 12-month corporate EBITDA reduced to approximately 5.9x after sales.

item 7.01 item 8.01 item 9.01

Machine-readable event card

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accession: 0001474098-25-000146
form_type: 8-K
ticker: PEB
cik: 0001474098
company_name: Pebblebrook Hotel Trust
filed_at: 2025-12-04T23:59:59+00:00
discovered_at: 2026-05-14T18:02:39.480118+00:00
generated_at: 2026-05-16T14:37:38.708005+00:00
sec_items: ["7.01", "8.01", "9.01"]
event_type: other_material
sentiment: neutral
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confidence: high
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