Pebblebrook Hotel Trust Results

Pebblebrook Hotel Trust Provides Update on First Quarter 2018 Outlook

Pebblebrook Hotel Trust

Pebblebrook Hotel Trust (NYSE: PEB)  today provided an update on its first quarter 2018 performance as compared to its outlook provided on February 22, 2018.

Based upon a preliminary review of operating and financial results, the Company has updated its first quarter 2018 outlook as follows:

 

New First Quarter

2018 Outlook

as of April 12, 2018

 

Prior Outlook

as of February 22, 2018

 

Variance to

Prior Outlook

Low   High   Low   High   Low   High

($ in millions, except per share data)

 

 

 

 

 

Net income

$22.2

$23.7

$14.5

$17.5

$7.7

$6.2

 
Same-Property RevPAR growth rate

(0.50%)

(0.25%)

(3.50%)

(1.50%)

3.00%

1.25%
Same-Property EBITDA

$53.3

$54.8

$48.5

$51.5

$4.8

$3.3

 
Adjusted EBITDA

$57.0

$58.5

$47.1

$50.1

$9.9

$8.4
Adjusted FFO per diluted share(1)

$0.63

$0.65

$0.51

$0.55

$0.12

$0.10

“We are encouraged by the improved business travel demand that we experienced during the first quarter, which was much stronger than expected,” said Jon E. Bortz, Chairman, President and Chief Executive Officer of Pebblebrook Hotel Trust. “These positive business travel trends include increased short-term group and transient bookings, fewer cancellations, better group attendance and increased overall group spend, as well as solid demand from the leisure segment. These trends seem to be continuing into the second quarter.”



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