So as a result of our hotels strong performance combined with our additional acquisitions generated adjusted EBITDA of $32.9 million in the quarter, an increase of $14.6 million or 80% versus last year’s second-quarter. As a reminder and as we previously discussed, our adjusted EBITDA adds back to $1.1 million of one-time charges associated with the change in hotel management companies at the Doubletree by Hilton Bethesda Hotel. This expense is recorded in the G&A line item in our income statement.Our G&A expense was also greater in the quarter from higher-than-expected hopefully non-recurring legal costs, some additional non-capitalized expenses related to the reconcepting and relaunching initiative at several of our recently renovated hotels and restaurants and higher-than-expected corporate and business taxes (ph).
Pebblebrook Hotel Trust's CEO Discusses Q2 2012 Results - Earnings Call Transcript
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