This Day On The Street
Continue to site
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 Third Quarter 2013 Results

Pebblebrook Hotel Trust (NYSE: PEB) (the “Company”) today reported results for the third quarter ended September 30, 2013. The Company’s results include the following:
Nine Months Ended,
Third Quarter September 30
2013   2012 2013   2012
($ in millions except per share and RevPAR data)
Net income (loss) to common shareholders $11.3 $7.5 $15.1 $5.6
Net income (loss) per diluted share $0.18 $0.13 $0.24 $0.10
Same-Property RevPAR (1) $202.10 $190.25 $186.21 $174.25
Same-Property RevPAR growth rate 6.2% 6.9%
Same-Property EBITDA (1) $47.3 $44.9 $119.1 $109.7
Same-Property EBITDA growth rate 5.4% 8.6%
Same-Property EBITDA Margin (1) 30.9% 30.8% 28.1% 27.3%
Adjusted EBITDA (1) $44.4 $35.4 $109.3 $82.3
Adjusted EBITDA growth rate 25.5% 32.8%
Adjusted FFO (1) $28.3 $22.0 $66.7 $47.6
Adjusted FFO per diluted share (1) $0.46 $0.37 $1.08 $0.86
Adjusted FFO per diluted share growth rate 24.3% 25.6%

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

For the details as to which hotels are included in Same-Property revenue per available room (“RevPAR”), average daily rate (“ADR”), Occupancy, Revenues, Expenses, EBITDA and EBITDA Margins appearing in the table above and elsewhere in this press release, refer to the Same-Property Inclusion Reference Table later in this press release.

“We’re very pleased with the performance of our portfolio during the third quarter, despite economic and political headwinds, as we continued to outperform the hotel industry,” said Jon E. Bortz, Chairman, President and Chief Executive Officer of Pebblebrook Hotel Trust. “Our properties located on the west coast, primarily in San Francisco, Seattle and Portland, led the portfolio’s performance. The hotel industry continued to generate healthy RevPAR growth in the quarter, as demand outpaced limited new supply, leading to increased pricing power and higher rates for our portfolio and the lodging industry.”

1 of 20

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
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $94.19 0.00%
FB $118.06 0.00%
GOOG $695.70 0.00%
TSLA $222.56 0.00%
YHOO $36.00 0.00%


Chart of I:DJI
DOW 17,651.26 -99.65 -0.56%
S&P 500 2,051.12 -12.25 -0.59%
NASDAQ 4,725.6390 -37.5850 -0.79%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs