Hotel News Resource - Pebblebrook Hotel Trust Hotel Industry News

Pebblebrook Hotel Trust (NYSE: PEB) today announced that it has acquired the Hotel Milano for $30.0 million. The 108-room, full-service hotel is located in the South of Market and Convention Center submarket of downtown San Francisco, California. The property will be managed by Viceroy Hotel Group.

Pebblebrook Hotel Trust Reports 2011 Results

The Company's outlook for 2012, which assumes continued improvement in economic activity, positive business travel trends and the other significant assumptions detailed below, is as follows:

Pro forma room revenue per available room in the second quarter of 2011 increased 6.6 percent over the same period of 2010 to $146.97. Pro forma average daily rate grew 8.7 percent from the second quarter of 2010 to $189.29, while Pro forma Occupancy decreased 1.8 percent to 78.5 percent.

Pebblebrook Hotel Trust (NYSE: PEB) today announced that it has acquired a 49% interest in a joint venture that owns six upper upscale hotels in Manhattan valued at $910.0 million.

The 1,600 room joint venture values the six hotels involved at approximately $910 million.

Viceroy Hotel Group continues to manage the hotel.

The 237-room property managed by Morgans Hotel group.

Pro forma RevPAR Increased 8.7 Percent; Pro forma Hotel EBITDA Rose 26.7 Percent

Pebblebrook Hotel Trust (NYSE: PEB) announced that it has acquired the Hotel Monaco Seattle for $51.2 million.