- Business
- Pebblebrook Hotel Trust (NYSE: PEB) is a publicly traded real estate investment trust organized in December 2009 that opportunistically acquires, invests in, and actively manages upper upscale and full-service hotel and resort properties located in or near urban gateway markets across the United States; its portfolio includes 46 properties with 11,933 rooms, featuring independent and branded hotels such as Viceroy Washington DC, Hotel Monaco, Sir Francis Drake, and properties managed through operator relationships with firms like sbe/Ennismore, Noble House Hotels & Resorts, and SH Hotels & Resorts; core revenue streams derive from room rentals, food and beverage sales, ancillary services including event spaces, and on-site restaurants and bars. Headquartered in Bethesda, Maryland, the company targets high-demand urban markets with strong tourism, corporate travel, and local economic drivers, employing intensive asset management strategies focused on operational enhancements, renovations, repositioning, and redevelopment opportunities to optimize performance and deliver long-term shareholder returns through a conservative capital structure and quarterly dividends. In recent developments, Pebblebrook completed the $44.25 million sale of the 133-room Montrose at Beverly Hills in West Hollywood, California, on November 19, 2025, at an EBITDA multiple of 16.1x and NOI cap rate of 5.2%, with proceeds allocated to debt reduction, share repurchases, and capital priorities; the company also has a $72.0 million hotel sale under contract expected to close in the fourth quarter of 2025, announced a new $150 million common share repurchase program on October 21, 2025, replacing the prior program, and exercised the full over-allotment option for its 1.625% convertible senior notes due 2030.