---
schema_version: "secwatch.filing_event.v1"
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"
generated_at: "2026-05-16T14:37:38.708005+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 7.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1474098/000147409825000146/0001474098-25-000146-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1474098/000147409825000146/peb-20251203.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001474098-25-000146
- JSON: https://secwatch.observer/filing/0001474098-25-000146.json
- Plain text: https://secwatch.observer/filing/0001474098-25-000146.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.