Pebblebrook Hotel Trust Reports Third Quarter 2026 Results

Jon E. Bortz, Chairman and Chief Executive Officer of Pebblebrook Hotel Trust

“Our third-quarter results far exceeded the high end of our outlook for the third consecutive quarter. Healthy business and leisure travel drove broad-based growth across our portfolio, with momentum continuing through September, well beyond the summer’s major events. Our premium portfolio continued to demonstrate significant pricing power, with Same-Property ADR increasing 7.0%, well above our expectations.”

Jon E. Bortz, Chairman and Chief Executive Officer of Pebblebrook Hotel Trust

“Our resorts delivered outstanding results, demonstrating guests’ willingness to spend on distinctive lifestyle experiences. Resort RevPAR increased 8.4%, food and beverage revenues jumped 11.2%, and eight of our 13 resorts achieved Hotel EBITDA growth of 20% or more. Our urban hotels also performed very well, with RevPAR climbing 8.3%, driven by double-digit RevPAR gains in San Francisco, Chicago, Los Angeles, and Boston.”

Jon E. Bortz, Chairman and Chief Executive Officer of Pebblebrook Hotel Trust

“We are raising our full-year outlook again to reflect both our significant third-quarter outperformance and our increasing confidence in fourth-quarter demand trends. Despite ongoing geopolitical and economic uncertainty, travel demand remains resilient. With new hotel supply extremely limited, stronger pricing power and disciplined cost control are driving higher RevPAR, total revenues, and margins.”

Jon E. Bortz, Chairman and Chief Executive Officer of Pebblebrook Hotel Trust

“We see substantial upside ahead. Our redeveloped resorts are still ramping up, our urban markets are recovering, pricing power is growing, and 2027 brings stronger convention calendars in our two largest markets, San Diego and Boston, along with the Super Bowl in Los Angeles. Strong free cash flow and selective hotel sales at attractive private-market valuations provide significant capital to reduce debt and repurchase common and preferred shares at meaningful discounts. Combined, these strong factors should continue to grow cash flow and Adjusted FFO per diluted share.”

Jon E. Bortz, Chairman and Chief Executive Officer of Pebblebrook Hotel Trust

“One of the most encouraging developments in the third quarter was the continued improvement in pricing power across our portfolio. Healthy business and leisure transient demand supported an 8.5% increase in transient ADR, while group ADR also increased despite softer convention calendars in several markets. Importantly, demand remained strong throughout the third quarter, reaccelerating in September. Together, these trends reinforce the broad strength of underlying travel demand beyond the early-quarter major events.”