secwatch.observer — SEC 8-K summary
======================================

Issuer:     Pebblebrook Hotel Trust (PEB)
CIK:        0001474098
Form:       8-K
Filed at:   2025-12-04T23:59:59+00:00
Accession:  0001474098-25-000146
Event type: other_material
Sentiment:  neutral
Materiality: 0.75
Item codes: 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1474098/000147409825000146/0001474098-25-000146-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1474098/000147409825000146/peb-20251203.htm
  HTML page:      https://secwatch.observer/filing/0001474098-25-000146

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer