Built in 1988, the hotel was fully renovated in 2006 and completed a $3.5 million guest suites renovation in May 2012. The hotel features a 12-story atrium and panoramic views of San Diego Bay and the city. Standard suite amenities include two separate rooms, 37- or 42-inch flat screen high-definition televisions, microwave, mini refrigerator, coffee maker, dining table and chairs, sofa bed and high-speed wireless internet access. The hotel features approximately 5,000 square feet of meeting space, including the 2,032 square foot Monterrey Ballroom, an indoor heated swimming pool and whirlpool and 3,411 square feet of leased retail space located on the ground floor. The hotel also offers PFC Bar & Grill, open daily from 11:00am until midnight, serving fresh seafood and offering a wide selection of spirits, wine and beer, including many of San Diego’s famous locally produced microbrews.In 2012, the Embassy Suites San Diego Bay – Downtown operated at 83 percent occupancy, with an average daily rate (“ADR”) of $198, room revenue per available room (“RevPAR”) of $165, earnings before interest, taxes, depreciation and amortization (“EBITDA”) of $8.8 million and net operating income after capital reserves (“NOI) of $7.8 million. For all of 2013, the Company currently forecasts that the hotel will generate EBITDA of $8.5 to $9.0 million and NOI of $7.5 to $8.0 million, both of which are before an expected $1.0 million renovation impact.
Pebblebrook Hotel Trust Acquires The Embassy Suites San Diego Bay – Downtown
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