Pebblebrook Hotel ( (PEB) ) has released its Q4 earnings. Here is a breakdown of the information Pebblebrook Hotel presented to its investors.
Pebblebrook Hotel Trust is a publicly traded real estate investment trust (REIT) that specializes in owning urban and resort lifestyle hotels and resorts across the United States, with a portfolio comprising 46 hotels and resorts totaling approximately 12,000 guest rooms.
In its 2024 earnings report, Pebblebrook Hotel Trust highlighted a modest increase in its financial performance metrics, including a 2.1% growth in Same-Property Total RevPAR and a 0.9% increase in Same-Property Hotel EBITDA. The company also reported an Adjusted FFO per diluted share of $1.68, a 5.0% increase from the previous year.
Key financial highlights include a Same-Property Total RevPAR growth of 1.8% in Q4 2024, driven by a 4.0% increase at resorts. Redeveloped properties showed significant gains, with occupancy rising by 4.7 points year-over-year. Pebblebrook also completed a $525 million capital reinvestment and redevelopment program, enhancing its portfolio’s value. The company successfully managed its balance sheet by executing $1.6 billion in debt financings and extensions, ending the year with $217.6 million in cash.
Looking ahead to 2025, Pebblebrook anticipates challenges due to the Los Angeles fires, which are expected to impact RevPAR growth and EBITDA. Despite these setbacks, the company remains optimistic about future growth, supported by a strong leisure demand and a low pipeline of new hotel construction in key markets. Pebblebrook plans to continue its strategic focus on enhancing operational efficiencies and managing costs to offset rising wage pressures.
Overall, Pebblebrook Hotel Trust remains committed to leveraging its strategic investments and market positioning to drive sustainable growth, while closely monitoring external factors that may impact its operations.