This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Pebblebrook Hotel Trust Reports 2012 Results

Pebblebrook Hotel Trust (NYSE: PEB) (the “Company”) today reported results for the fourth quarter and year ended December 31, 2012. The Company’s results include the following:
       
Fourth Quarter Full Year
2012     2011 2012     2011
($ in millions except per share and RevPAR data)
       
Net income to common shareholders $2.6 $3.5 $8.3 $4.4
Net income per diluted share $0.04 $0.07 $0.14 $0.08
 
Pro forma RevPAR $177.93 $168.24 $173.82 $160.81
Pro forma Hotel EBITDA $36.0 $34.2 $126.6 $107.8
Pro forma Hotel EBITDA Margin 27.5% 27.0% 27.4% 24.8%
 
Adjusted EBITDA (1) $31.9 $28.1 $114.2 $79.3
Adjusted EBITDA growth rate 13.4% 43.9%
 
Adjusted FFO (1) $18.5 $16.5 $66.1 $48.9
Adjusted FFO per diluted share (1) $0.30 $0.32 $1.17 $1.00
Adjusted FFO per diluted share growth rate (4.7%) 17.5%
 

(1) See tables later in this press release for a description of pro forma information and reconciliations from net income to non-GAAP financial measures, including earnings before interest, taxes, depreciation and amortization ("EBITDA"), Adjusted EBITDA, Funds from Operations ("FFO"), FFO per diluted share, Adjusted FFO and Adjusted FFO per diluted share.

For the details as to which hotels are included in Pro forma RevPAR, ADR, Occupancy, Hotel Revenues, Hotel Expenses, Hotel EBITDA, Hotel EBITDA Margins and Hotel EBITDA Per Room for the fourth quarter and full year ended December 31, 2012 appearing in the table above and elsewhere in the press release, refer to the Pro Forma Property Inclusion Reference Table later in this press release.

“We’re very pleased with our Company’s strong performance in 2012,” said Jon E. Bortz, Chairman, President and Chief Executive Officer of Pebblebrook Hotel Trust. “This was a very good year for the overall hotel industry and our hotels benefitted from the continued resurgence in business transient, leisure and international inbound travel. Despite the negative effects from Superstorm Sandy, as well as the uncertainty surrounding the presidential election and the fiscal cliff, hotel demand remained resilient in most of our markets. As a result, our overall performance exceeded our expectations. Furthermore, we were able to take advantage of opportunities to add five terrific hotels to our portfolio in 2012, all located in major west coast gateway markets.”

1 of 11

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 16,374.76 +23.38 0.14%
S&P 500 1,951.13 +2.27 0.12%
NASDAQ 4,733.4970 -16.4820 -0.35%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs