Pebblebrook Hotel Trust (PEB)
Market Price (11/6/2026): $20.8 | Market Cap: $2.3 BilSector: Real Estate | Industry: Hotel & Resort REITs
Pebblebrook Hotel Trust (PEB)
Market Price (11/6/2026): $20.8Market Cap: $2.3 BilSector: Real EstateIndustry: Hotel & Resort REITs
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 19%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 19% Attractive yieldFCF Yield is 12% Low stock price volatilityVol 12M is 32% Megatrend and thematic driversMegatrends include Experience Economy & Premiumization, Smart Buildings & Proptech, and Sustainable & Green Buildings. Themes include Travel & Leisure Tech, Show more. | Weak multi-year price returns3Y Excs Rtn is -7.3% Meaningful short interestShort Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 18% | Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 91% Expensive valuation multiplesP/EBITPrice/EBIT or Price/(Operating Income) ratio is 59x Stock price has recently run up significantly12M Rtn12 month market price return is 103% Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -8.2% Key risksPEB key risks include [1] heightened earnings volatility from its portfolio concentration in the upscale and luxury segments, Show more. |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 19%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 19% |
| Attractive yieldFCF Yield is 12% |
| Low stock price volatilityVol 12M is 32% |
| Megatrend and thematic driversMegatrends include Experience Economy & Premiumization, Smart Buildings & Proptech, and Sustainable & Green Buildings. Themes include Travel & Leisure Tech, Show more. |
| Weak multi-year price returns3Y Excs Rtn is -7.3% |
| Meaningful short interestShort Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 18% |
| Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 91% |
| Expensive valuation multiplesP/EBITPrice/EBIT or Price/(Operating Income) ratio is 59x |
| Stock price has recently run up significantly12M Rtn12 month market price return is 103% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -8.2% |
| Key risksPEB key risks include [1] heightened earnings volatility from its portfolio concentration in the upscale and luxury segments, Show more. |
Qualitative Assessment
AI Analysis | Feedback
Updated on 11/1/2026
Pebblebrook Hotel Trust (PEB) stock has gained about 10% since 7/31/2026 because of the following key factors:
1. Exceptional Fiscal Q3 2026 Performance Exceeded Expectations.
Pebblebrook Hotel Trust reported robust results for fiscal Q3 2026 (ended September 30, 2026), surpassing the high end of its own outlook across all major earnings and operating metrics for the third consecutive quarter. Same-Property Hotel EBITDA increased by a significant 15.1% year-over-year to $115.2 million, outperforming the high end of the company's guidance by $10.7 million. Additionally, Adjusted Funds From Operations (FFO) per diluted share rose by a strong 23.5% year-over-year to $0.63, exceeding the high end of the outlook by $0.11.
2. Robust Hotel Demand and Enhanced Pricing Power Drove Revenue Growth.
The period saw healthy business and leisure demand continue through September, contributing to a "multi-year upcycle" in the hotel industry. Pebblebrook's Same-Property Revenue Per Available Room (RevPAR) grew by 8.3%, primarily driven by a 7.0% increase in Average Daily Rate (ADR) and a 1.2% rise in occupancy. This rate-led growth reflects increased pricing confidence and less discounting across the portfolio, especially in key urban markets like San Francisco (+14.5% RevPAR), Chicago (+12.7% RevPAR), Los Angeles (+10.7% RevPAR), and Boston (+10.6% RevPAR), and in its resort segments (+8.4% RevPAR).
Show more
Pebblebrook Hotel Trust (PEB) stock has gained about 10% since 7/31/2026 because of the following key factors:
1. Exceptional Fiscal Q3 2026 Performance Exceeded Expectations.
Pebblebrook Hotel Trust reported robust results for fiscal Q3 2026 (ended September 30, 2026), surpassing the high end of its own outlook across all major earnings and operating metrics for the third consecutive quarter. Same-Property Hotel EBITDA increased by a significant 15.1% year-over-year to $115.2 million, outperforming the high end of the company's guidance by $10.7 million. Additionally, Adjusted Funds From Operations (FFO) per diluted share rose by a strong 23.5% year-over-year to $0.63, exceeding the high end of the outlook by $0.11.
2. Robust Hotel Demand and Enhanced Pricing Power Drove Revenue Growth.
The period saw healthy business and leisure demand continue through September, contributing to a "multi-year upcycle" in the hotel industry. Pebblebrook's Same-Property Revenue Per Available Room (RevPAR) grew by 8.3%, primarily driven by a 7.0% increase in Average Daily Rate (ADR) and a 1.2% rise in occupancy. This rate-led growth reflects increased pricing confidence and less discounting across the portfolio, especially in key urban markets like San Francisco (+14.5% RevPAR), Chicago (+12.7% RevPAR), Los Angeles (+10.7% RevPAR), and Boston (+10.6% RevPAR), and in its resort segments (+8.4% RevPAR).
Show more
Updated on 11/1/2026
Pebblebrook Hotel Trust (PEB) stock has gained about 10% since 7/31/2026 because of the following key factors:
1. Exceptional Fiscal Q3 2026 Performance Exceeded Expectations.
Pebblebrook Hotel Trust reported robust results for fiscal Q3 2026 (ended September 30, 2026), surpassing the high end of its own outlook across all major earnings and operating metrics for the third consecutive quarter. Same-Property Hotel EBITDA increased by a significant 15.1% year-over-year to $115.2 million, outperforming the high end of the company's guidance by $10.7 million. Additionally, Adjusted Funds From Operations (FFO) per diluted share rose by a strong 23.5% year-over-year to $0.63, exceeding the high end of the outlook by $0.11.
2. Robust Hotel Demand and Enhanced Pricing Power Drove Revenue Growth.
The period saw healthy business and leisure demand continue through September, contributing to a "multi-year upcycle" in the hotel industry. Pebblebrook's Same-Property Revenue Per Available Room (RevPAR) grew by 8.3%, primarily driven by a 7.0% increase in Average Daily Rate (ADR) and a 1.2% rise in occupancy. This rate-led growth reflects increased pricing confidence and less discounting across the portfolio, especially in key urban markets like San Francisco (+14.5% RevPAR), Chicago (+12.7% RevPAR), Los Angeles (+10.7% RevPAR), and Boston (+10.6% RevPAR), and in its resort segments (+8.4% RevPAR).
3. Strategic Capital Allocation through Dispositions and Share Repurchases.
Pebblebrook actively managed its portfolio and capital structure by completing the sale of The Hotel Zags Portland for $10.0 million in October 2026, divesting a property that had generated negative EBITDA of $0.6 million. Concurrently, the company repurchased 1.2 million common shares for $20.9 million at an average price of $18.12 per share, and 0.4 million preferred shares for $7.2 million at a 23% average discount to liquidation preference during fiscal Q3 2026, which helped boost per-share metrics and reduce preferred equity.
4. Improved Financial Outlook and Balance Sheet Strength.
Following the strong third-quarter results, Pebblebrook raised its full-year 2026 outlook for Adjusted EBITDAre by $16.3 million at the midpoint and for Adjusted FFO per diluted share by $0.17 at the midpoint, signaling continued positive momentum. The company also demonstrated an improved balance sheet, with its net debt-to-trailing 12-month corporate EBITDA declining to 5.1x as of September 30, 2026, from 5.9x at the end of 2025, attributed to stronger operating performance and debt reduction.
Show less
Pebblebrook Hotel Trust (PEB) stock has gained about 10% since 7/31/2026 because of the following key factors:
1. Exceptional Fiscal Q3 2026 Performance Exceeded Expectations.
Pebblebrook Hotel Trust reported robust results for fiscal Q3 2026 (ended September 30, 2026), surpassing the high end of its own outlook across all major earnings and operating metrics for the third consecutive quarter. Same-Property Hotel EBITDA increased by a significant 15.1% year-over-year to $115.2 million, outperforming the high end of the company's guidance by $10.7 million. Additionally, Adjusted Funds From Operations (FFO) per diluted share rose by a strong 23.5% year-over-year to $0.63, exceeding the high end of the outlook by $0.11.
2. Robust Hotel Demand and Enhanced Pricing Power Drove Revenue Growth.
The period saw healthy business and leisure demand continue through September, contributing to a "multi-year upcycle" in the hotel industry. Pebblebrook's Same-Property Revenue Per Available Room (RevPAR) grew by 8.3%, primarily driven by a 7.0% increase in Average Daily Rate (ADR) and a 1.2% rise in occupancy. This rate-led growth reflects increased pricing confidence and less discounting across the portfolio, especially in key urban markets like San Francisco (+14.5% RevPAR), Chicago (+12.7% RevPAR), Los Angeles (+10.7% RevPAR), and Boston (+10.6% RevPAR), and in its resort segments (+8.4% RevPAR).
3. Strategic Capital Allocation through Dispositions and Share Repurchases.
Pebblebrook actively managed its portfolio and capital structure by completing the sale of The Hotel Zags Portland for $10.0 million in October 2026, divesting a property that had generated negative EBITDA of $0.6 million. Concurrently, the company repurchased 1.2 million common shares for $20.9 million at an average price of $18.12 per share, and 0.4 million preferred shares for $7.2 million at a 23% average discount to liquidation preference during fiscal Q3 2026, which helped boost per-share metrics and reduce preferred equity.
4. Improved Financial Outlook and Balance Sheet Strength.
Following the strong third-quarter results, Pebblebrook raised its full-year 2026 outlook for Adjusted EBITDAre by $16.3 million at the midpoint and for Adjusted FFO per diluted share by $0.17 at the midpoint, signaling continued positive momentum. The company also demonstrated an improved balance sheet, with its net debt-to-trailing 12-month corporate EBITDA declining to 5.1x as of September 30, 2026, from 5.9x at the end of 2025, attributed to stronger operating performance and debt reduction.
Show less
Holding a concentrated position? Know your true downside before the momentum shifts.
Protect Your Wealth →
Stock Movement Drivers
Fundamental Drivers
The 9.0% change in PEB stock from 7/31/2026 to 11/5/2026 was primarily driven by a 8.2% change in the company's P/S Multiple.| (LTM values as of) | 7312026 | 11052026 | Change |
|---|---|---|---|
| Stock Price ($) | 19.09 | 20.81 | 9.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,501 | 1,505 | 0.3% |
| P/S Multiple | 1.4 | 1.6 | 8.2% |
| Shares Outstanding (Mil) | 113 | 112 | 0.5% |
| Cumulative Contribution | 9.0% |
Market Drivers
7/31/2026 to 11/5/2026| Return | Correlation | |
|---|---|---|
| PEB | 9.0% | |
| Market (SPY) | -1.9% | 41.4% |
| Sector (XLRE) | -1.7% | 24.2% |
Fundamental Drivers
The 48.3% change in PEB stock from 4/30/2026 to 11/5/2026 was primarily driven by a 46.4% change in the company's P/S Multiple.| (LTM values as of) | 4302026 | 11052026 | Change |
|---|---|---|---|
| Stock Price ($) | 14.04 | 20.81 | 48.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,501 | 1,505 | 0.2% |
| P/S Multiple | 1.1 | 1.6 | 46.4% |
| Shares Outstanding (Mil) | 113 | 112 | 1.0% |
| Cumulative Contribution | 48.3% |
Market Drivers
4/30/2026 to 11/5/2026| Return | Correlation | |
|---|---|---|
| PEB | 48.3% | |
| Market (SPY) | 2.3% | 39.1% |
| Sector (XLRE) | 0.6% | 27.0% |
Fundamental Drivers
The 99.5% change in PEB stock from 10/31/2025 to 11/5/2026 was primarily driven by a 85.0% change in the company's P/S Multiple.| (LTM values as of) | 10312025 | 11052026 | Change |
|---|---|---|---|
| Stock Price ($) | 10.43 | 20.81 | 99.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,470 | 1,505 | 2.4% |
| P/S Multiple | 0.8 | 1.6 | 85.0% |
| Shares Outstanding (Mil) | 118 | 112 | 5.4% |
| Cumulative Contribution | 99.5% |
Market Drivers
10/31/2025 to 11/5/2026| Return | Correlation | |
|---|---|---|
| PEB | 99.5% | |
| Market (SPY) | 8.4% | 39.3% |
| Sector (XLRE) | 11.2% | 35.0% |
Fundamental Drivers
The 76.0% change in PEB stock from 10/31/2023 to 11/5/2026 was primarily driven by a 53.6% change in the company's P/S Multiple.| (LTM values as of) | 10312023 | 11052026 | Change |
|---|---|---|---|
| Stock Price ($) | 11.82 | 20.81 | 76.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,405 | 1,505 | 7.1% |
| P/S Multiple | 1.0 | 1.6 | 53.6% |
| Shares Outstanding (Mil) | 120 | 112 | 7.0% |
| Cumulative Contribution | 76.0% |
Market Drivers
10/31/2023 to 11/5/2026| Return | Correlation | |
|---|---|---|
| PEB | 76.0% | |
| Market (SPY) | 81.3% | 59.1% |
| Sector (XLRE) | 47.1% | 50.8% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| PEB Return | 19% | -40% | 20% | -15% | -16% | 84% | 12% |
| Peers Return | 19% | -13% | 29% | 1% | -11% | 50% | 80% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 12% | 105% |
Monthly Win Rates [3] | |||||||
| PEB Win Rate | 50% | 42% | 50% | 17% | 50% | 64% | |
| Peers Win Rate | 50% | 42% | 57% | 48% | 47% | 67% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 45% | |
Max Drawdowns [4] | |||||||
| PEB Max Drawdown | -24% | -51% | -32% | -29% | -45% | -12% | |
| Peers Max Drawdown | -23% | -30% | -22% | -19% | -31% | -13% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: HST, RHP, PK, APLE, SHO.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 11/5/2026 (YTD)
How Low Can It Go
| Event | PEB | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -38.4% | -18.8% |
| % Gain to Breakeven | 62.2% | 23.1% |
| Time to Breakeven | 308 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -17.1% | -9.5% |
| % Gain to Breakeven | 20.6% | 10.5% |
| Time to Breakeven | 34 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -20.7% | -6.7% |
| % Gain to Breakeven | 26.1% | 7.1% |
| Time to Breakeven | 278 days | 31 days |
| 2020 COVID-19 Crash | ||
| % Loss | -74.4% | -33.7% |
| % Gain to Breakeven | 290.2% | 50.9% |
| Time to Breakeven | 357 days | 140 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -44.5% | -12.2% |
| % Gain to Breakeven | 80.0% | 13.9% |
| Time to Breakeven | 619 days | 62 days |
| 2014-2016 Oil Price Collapse | ||
| % Loss | -40.6% | -6.8% |
| % Gain to Breakeven | 68.5% | 7.3% |
| Time to Breakeven | 598 days | 15 days |
In The Past
Pebblebrook Hotel Trust's stock fell -38.4% during the 2025 US Tariff Shock. Such a loss loss requires a 62.2% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
| Event | PEB | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -38.4% | -18.8% |
| % Gain to Breakeven | 62.2% | 23.1% |
| Time to Breakeven | 308 days | 79 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -20.7% | -6.7% |
| % Gain to Breakeven | 26.1% | 7.1% |
| Time to Breakeven | 278 days | 31 days |
| 2020 COVID-19 Crash | ||
| % Loss | -74.4% | -33.7% |
| % Gain to Breakeven | 290.2% | 50.9% |
| Time to Breakeven | 357 days | 140 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -44.5% | -12.2% |
| % Gain to Breakeven | 80.0% | 13.9% |
| Time to Breakeven | 619 days | 62 days |
| 2014-2016 Oil Price Collapse | ||
| % Loss | -40.6% | -6.8% |
| % Gain to Breakeven | 68.5% | 7.3% |
| Time to Breakeven | 598 days | 15 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -30.8% | -17.9% |
| % Gain to Breakeven | 44.5% | 21.8% |
| Time to Breakeven | 118 days | 123 days |
In The Past
Pebblebrook Hotel Trust's stock fell -38.4% during the 2025 US Tariff Shock. Such a loss loss requires a 62.2% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Pebblebrook Hotel Trust (PEB)
Pebblebrook Hotel Trust (PEB) is a publicly traded real estate investment trust (REIT) that specializes in owning a substantial portfolio of hotel properties. As a REIT, its core business model revolves around generating income from the real estate assets it holds. Specifically, PEB is a leading owner of urban and resort lifestyle hotels throughout the United States, making it a significant player in the hospitality real estate sector.
The company's main offerings are the 53 hotel properties it owns, which collectively provide approximately 13,200 guestrooms. These hotels are strategically situated across 14 distinct urban and resort markets, with a particular concentration on high-demand gateway cities along the west coast. Its primary customers are diverse travelers, including leisure guests, business professionals, and groups, who seek premium, lifestyle-oriented accommodations in these desirable and dynamic locations.
AI Analysis | Feedback
Here are 1-3 brief analogies for Pebblebrook Hotel Trust (PEB):
A "Simon Property Group for high-end urban and resort hotels," owning a vast collection of prime hotel properties rather than shopping malls.
An "LVMH for hotel real estate," owning a portfolio of distinct luxury urban and resort properties instead of luxury brands.
AI Analysis | Feedback
The major services provided by Pebblebrook Hotel Trust are:
- Hotel Accommodation: Offering guestrooms for rent to travelers and visitors across its urban and resort properties.
- Meeting and Event Facilities: Providing venues and associated services for corporate functions, social gatherings, and conventions.
- Food and Beverage Services: Supplying diverse dining options, bars, and catering services within its hotel properties.
AI Analysis | Feedback
```html
Pebblebrook Hotel Trust (NYSE: PEB) owns and operates hotels, and therefore sells primarily to individuals and groups, rather than to other companies as major customers in a traditional B2B sense. Its customers are the guests staying at its hotels. The major categories of customers it serves include:
- Individual Leisure Travelers: Guests staying for personal vacations, tourism, family trips, or other non-business-related travel.
- Business Travelers: Individuals traveling for corporate purposes, attending meetings, conferences, or working remotely.
- Groups and Events: Organizations or individuals booking blocks of rooms or event spaces for corporate meetings, conventions, social events (such as weddings), and other functions.
AI Analysis | Feedback
- Marriott International, Inc. (MAR)
- Hilton Worldwide Holdings Inc. (HLT)
- Hyatt Hotels Corporation (H)
- InterContinental Hotels Group PLC (IHG)
AI Analysis | Feedback
Jon E. Bortz
Chairman of the Board and Chief Executive Officer
Mr. Bortz has served as Chairman of the Board and Chief Executive Officer of Pebblebrook Hotel Trust since its formation in October 2009. He was also the Founder, President, Chief Executive Officer, and a Trustee of LaSalle Hotel Properties, a publicly traded hotel REIT, from its formation in April 1998 until his retirement in September 2009, and served as Chairman of the Board of LaSalle Hotel Properties from January 2001. Mr. Bortz led LaSalle Hotel Properties to industry-leading performance and oversaw its $5.5 billion strategic acquisition by Pebblebrook. Earlier in his career, he served as Managing Director and General Partner at LaSalle Partners (now JLL), where he directed major development and redevelopment projects in key markets. He also founded LaSalle's Hotel Group in 1993.
Raymond D. Martz
Co-President, Chief Financial Officer, Treasurer and Secretary
Mr. Martz serves as Co-President, Chief Financial Officer, Treasurer, and Secretary. Prior to joining Pebblebrook, he held the position of Chief Financial Officer for Phillips Edison & Company, one of the largest private owners of community shopping centers in the U.S., from August 2007 until November 2009. Before that, Mr. Martz was Chief Financial Officer, Secretary, and Treasurer of Eagle Hospitality Properties Trust, Inc., a NYSE-listed hotel REIT, from May 2005 until August 2007. He was also employed by LaSalle Hotel Properties in various finance functions from 1997 to 2005, including serving as its Treasurer from 2004 to 2005.
Thomas C. Fisher
Co-President, Chief Investment Officer
Mr. Fisher serves as Co-President and Chief Investment Officer. Prior to joining the Company, Mr. Fisher served as Managing Director – Americas for Jones Lang LaSalle Hotels, a leading hotel investment services firm. He joined Jones Lang LaSalle Hotels in 1996 and held various roles, including leading the national full-service investment sales platform.
Andrew H. Dittamo
Senior Vice President & Controller
Mr. Dittamo holds the position of Senior Vice President & Controller at Pebblebrook Hotel Trust.
Gabby Buck
Senior Vice President of Finance
Ms. Buck is the Senior Vice President of Finance at Pebblebrook Hotel Trust.
AI Analysis | Feedback
The key risks to Pebblebrook Hotel Trust (PEB) are primarily driven by the cyclical nature of the lodging industry and its operational and financial structure as a real estate investment trust (REIT) focused on urban and resort luxury hotels.
-
Sensitivity to Economic Cycles and Consumer Demand: As a hospitality REIT, Pebblebrook Hotel Trust is highly susceptible to economic cycles and fluctuations in corporate and leisure travel demand. Its revenues, derived from daily or weekly room rentals, are directly impacted by consumer confidence, business travel budgets, and overall economic conditions. During economic downturns or periods of high inflation, discretionary spending on travel often decreases, leading to lower occupancy rates and average daily rates (ADR). This risk is amplified by Pebblebrook's concentration in the luxury and upper-upscale segments, where pricing tends to compress most significantly during economic contractions. External disruptions, such as pandemics, can also cause sharp reductions in occupancy and cash flows.
-
High Debt Load and Interest Rate Risk: REITs, by their nature, often utilize significant leverage to acquire and operate properties. Pebblebrook Hotel Trust carries a substantial debt load, which exposes it to significant bankruptcy risk if travel demand falters. Additionally, like other REITs, Pebblebrook is vulnerable to interest rate fluctuations. Rising interest rates can increase the cost of borrowing, impacting the company's profitability and making other low-risk investments more attractive, potentially leading to selling pressure on REIT stocks.
-
Geographical Concentration and Event Risk: Pebblebrook's portfolio exhibits some geographical concentration, particularly in Southern California, which accounted for over 30% of its hotel EBITDA in 2023. This concentration exposes the company to localized weather-related disruptions, natural disasters, or other event-specific risks within that region. Such events could disproportionately affect the company's overall financial performance and earnings due to the significant reliance on a specific geographical market.
AI Analysis | Feedback
The sustained and structural shift towards remote and hybrid work models, potentially leading to a permanent reduction in business travel demand for urban hotels.
AI Analysis | Feedback
Pebblebrook Hotel Trust (NYSE: PEB) operates within the U.S. hotel industry, focusing on urban and resort lifestyle hotels in the upper-upscale and luxury segments. The addressable markets for their main products and services are substantial within the United States.
The overall U.S. hotels market was estimated at approximately $263.21 billion in 2024 and is projected to reach $280.63 billion in 2025. This market is expected to grow at a compound annual growth rate (CAGR) of 7.1% from 2025 to 2030, potentially reaching $395.69 billion by 2030. Another estimate places the U.S. hotels and motels market size at $285.1 billion in 2024, growing to $286.5 billion in 2025.
Focusing on Pebblebrook's specific segments:
- The luxury and upscale segment accounted for approximately 61% of the total U.S. hotel market in 2024.
- The United States luxury hotel market alone was valued at $28.59 billion in 2025 and is projected to grow to $45.43 billion by 2034, with a CAGR of 5.28% from 2026-2034.
- For lifestyle hotels, the North American market, which includes the United States, was approximately $22.7 billion in 2024. Another source indicates the North American lifestyle hotel market was $28.5 billion in 2024.
AI Analysis | Feedback
Pebblebrook Hotel Trust (PEB) is expected to drive future revenue growth over the next 2-3 years through several key initiatives and market trends:
- Urban Market Recovery and Major Event Catalysts: The company anticipates significant revenue growth from the continued recovery of its urban markets, particularly San Francisco. This recovery is fueled by increasing business transient, group, convention, and leisure demand. Additionally, a robust calendar of major events, including the World Cup, Super Bowl, and Olympics, in its urban markets is expected to significantly boost occupancy, average daily rates (ADR), and overall revenue.
- Strategic Redevelopments and Enhanced Out-of-Room Revenue: Pebblebrook Hotel Trust's ongoing strategic reinvestment program in its properties is projected to drive growth in non-room revenues. This includes increased spending on food and beverage and greater utilization of event spaces, leading to an overall uplift in revenue and strong returns on capital investments.
- LaPlaya Resort's Continued Stabilization and Recovery: The LaPlaya resort is expected to continue its recovery and stabilization from previous disruptions. This stabilization is anticipated to contribute meaningfully to the company's hotel EBITDA and overall revenue in the coming years.
- Same-Property Total RevPAR Growth: The company's forward outlook includes projected growth in Same-Property Total Revenue Per Available Room (RevPAR). This growth will be primarily driven by occupancy gains and healthy weekend demand, complemented by the increase in out-of-room revenues.
AI Analysis | Feedback
Share Repurchases
- Pebblebrook Hotel Trust repurchased $72.647 million in common shares during 2025. Since October 2022, the company has repurchased nearly 18.5 million common shares, representing approximately 14% of outstanding shares, at an average price of $13.37 per share.
- In October 2025, a new $150 million common share repurchase program was authorized by the Board of Trustees, replacing a previous program.
- During 2025, the company also repurchased 0.5 million preferred shares at an average discount of 24.3% to liquidation preference, reducing total outstanding preferred equity securities to $754.3 million.
Share Issuance
- In May 2022, Pebblebrook Hotel Trust issued approximately $77.6 million of perpetual preferred operating partnership units and about $400,000 of common units to partially fund the $156 million acquisition of the Inn on Fifth.
Outbound Investments
- In 2025, Pebblebrook completed the sale of two hotels, generating $116.3 million in gross proceeds, primarily utilized for debt reduction.
- In May 2022, the company acquired the 119-room Inn on Fifth in Naples, Florida, for $156 million.
- In October 2021, Pebblebrook acquired the 19-room Avalon Bed & Breakfast and the 12-room Duval Gardens in Key West, Florida, for $20.0 million, integrating them into its Southernmost Beach Resort.
Capital Expenditures
- Pebblebrook Hotel Trust invested $74.6 million in capital improvements across its portfolio in 2025.
- For 2026, the company anticipates capital investments ranging from $65 million to $75 million, focused on normal hotel refurbishments and repositioning projects.
- The majority of its multi-year $525 million strategic redevelopment program has been completed.
Peer Outperformance in Hotel & Resort REITs
PEB has trailed 67% of its 15 Hotel & Resort REITs peers over 5Y. Among the peers that beat it are HST and DRH. Hotel & Resort REITs ranks 4th of 12 industries in Real Estate by median 5Y return.
Share of Hotel & Resort REITs constituents that PEB has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
1Y
93%
of 15 industry peers · 102.8% return
3Y
73%
of 15 industry peers · 68.0% return
5Y
33%
of 15 industry peers · -17.8% return
Hotel & Resort REITs peers with revenue growth within 4pp of PEB's that beat it on at least 2 of 3 windows, and by at least 20pp over 5Y. Growth is matched by construction, so the gap is largely a re-rating gap. The multiple column is the context for it.
| Ticker | Name | Rev Growth 3Y Avg | P/E | 1Y | 3Y | 5Y | 5Y Gap |
|---|---|---|---|---|---|---|---|
| PEB | Pebblebrook Hotel Trust | 2.3% | -34.1x | 102.8% | 68.0% | -17.8% | — |
| HST | Host Hotels & Resorts | 6.0% | 16.4x | 64.0% | 78.0% | 71.6% | +89pp |
| DRH | Diamondrock Hospitality | 2.5% | 17.4x | 77.7% | 87.0% | 51.2% | +69pp |
Price returns, excluding dividends. P/E shown for context only and not used for matching.
Median price return by industry across the Real Estate sector, ranked by 5Y. Hotel & Resort REITs is PEB's own industry. Use this to see which corners of the sector have carried the returns.
| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Health Care REITs | 15 | 18.1% | 67.6% | 71.7% | WELL 227% · OHI 136% · CTRE 125% |
| Retail REITs | 23 | 16.2% | 39.2% | 23.5% | SKT 120% · SPG 73% · IVT 52% |
| Other Specialized REITs | 11 | -0.8% | 27.7% | 11.9% | IRM 168% · LAMR 66% · EPR 59% |
| Hotel & Resort REITs ← | 16 | 56.6% | 44.8% | 8.7% | HST 72% · RHP 64% · DRH 51% |
| Real Estate Development | 6 | -2.3% | 21.6% | 6.5% | JOE 48% |
| Industrial REITs | 11 | 14.6% | 34.9% | 1.5% | EGP 13% · CUBE 7% · STAG 7% |
| Single-Family Residential REITs | 4 | 1.5% | 4.4% | -17.0% | AMH -4% · ELS -14% · INVH -20% |
| Multi-Family Residential REITs | 12 | -0.6% | 20.0% | -24.0% | ESS -3% · VMRK -6% · UDR -18% |
| Diversified REITs | 13 | 6.3% | 18.2% | -28.3% | EPRT 17% · WPC 12% · LXP 7% |
| Office REITs | 19 | 1.8% | 36.0% | -34.3% | CDP 41% · HIW -4% · SLG -5% |
| Telecom Tower REITs | 3 | 6.5% | 10.0% | -35.3% | AMT -18% · CCI -35% · SBAC -39% |
| Real Estate Services | 26 | -29.8% | -11.8% | -40.2% | JLL 40% · CBRE 28% · NMRK -22% |
Median of constituents with a full price history over each window. Top names are limited to companies above $2B market cap.
Latest Trefis Analyses
| Title | |
|---|---|
| ARTICLES |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 19.63 |
| Mkt Cap | 3.7 |
| Rev LTM | 2,023 |
| Op Inc LTM | 280 |
| FCF LTM | 249 |
| FCF 3Y Avg | 245 |
| CFO LTM | 395 |
| CFO 3Y Avg | 410 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 3.8% |
| Rev Chg 3Y Avg | 2.7% |
| Rev Chg Q | 4.1% |
| QoQ Delta Rev Chg LTM | 1.1% |
| Op Inc Chg LTM | 20.5% |
| Op Inc Chg 3Y Avg | 2.2% |
| Op Mgn LTM | 13.2% |
| Op Mgn 3Y Avg | 12.7% |
| QoQ Delta Op Mgn LTM | 0.3% |
| CFO/Rev LTM | 22.0% |
| CFO/Rev 3Y Avg | 21.9% |
| FCF/Rev LTM | 17.7% |
| FCF/Rev 3Y Avg | 16.9% |
Price Behavior
Price Behavior
| Market Price | $20.81 | |
| Market Cap ($ Bil) | 2.3 | |
| First Trading Date | 12/09/2009 | |
| Distance from 52W High | -6.3% | |
| 50 Days | 200 Days | |
| DMA Price | $19.25 | $16.26 |
| DMA Trend | up | up |
| Distance from DMA | 8.1% | 27.9% |
| 3M | 1YR | |
| Volatility | 26.4% | 32.2% |
| Downside Capture | -5.69 | 37.00 |
| Upside Capture | 118.51 | 122.79 |
| Correlation (S&P 500) | 20.9% | 34.4% |
PEB Betas & Captures as of 10/31/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 1.37 | 0.67 | 0.42 | 0.72 | 0.88 | 1.45 |
| Up Beta | 0.21 | -1.37 | -0.80 | 0.09 | 0.81 | 1.66 |
| Down Beta | 1.50 | 1.49 | 0.68 | 0.68 | 1.24 | 1.57 |
| Up Capture | 291% | 141% | 93% | 149% | 125% | 183% |
| Bmk +ve Days | 12 | 18 | 28 | 62 | 130 | 427 |
| Stock +ve Days | 16 | 29 | 40 | 79 | 144 | 380 |
| Down Capture | 37% | -13% | 29% | 41% | 45% | 106% |
| Bmk -ve Days | 10 | 25 | 36 | 64 | 121 | 325 |
| Stock -ve Days | 6 | 14 | 24 | 47 | 105 | 358 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with PEB | |
|---|---|---|---|---|
| PEB | 103.6% | 32.2% | 2.22 | - |
| Sector ETF (XLRE) | 11.1% | 14.6% | 0.49 | 35.3% |
| Equity (SPY) | 9.5% | 13.6% | 0.41 | 38.8% |
| Gold (GLD) | 3.6% | 28.7% | 0.11 | 9.2% |
| Commodities (DBC) | 37.7% | 21.2% | 1.40 | -19.5% |
| Real Estate (VNQ) | 12.0% | 14.2% | 0.55 | 39.9% |
| Bitcoin (BTCUSD) | -20.8% | 43.3% | -0.42 | 9.8% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with PEB | |
|---|---|---|---|---|
| PEB | -0.7% | 38.8% | 0.08 | - |
| Sector ETF (XLRE) | 1.5% | 19.2% | -0.03 | 52.8% |
| Equity (SPY) | 11.3% | 17.3% | 0.48 | 61.2% |
| Gold (GLD) | 17.5% | 19.1% | 0.74 | 7.5% |
| Commodities (DBC) | 8.0% | 19.6% | 0.29 | 11.9% |
| Real Estate (VNQ) | 1.2% | 18.9% | -0.05 | 58.2% |
| Bitcoin (BTCUSD) | 5.9% | 51.5% | 0.29 | 28.5% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with PEB | |
|---|---|---|---|---|
| PEB | -0.4% | 42.7% | 0.14 | - |
| Sector ETF (XLRE) | 7.1% | 20.4% | 0.30 | 51.3% |
| Equity (SPY) | 14.9% | 18.0% | 0.70 | 56.1% |
| Gold (GLD) | 12.0% | 16.5% | 0.59 | 2.0% |
| Commodities (DBC) | 7.6% | 18.1% | 0.33 | 20.6% |
| Real Estate (VNQ) | 5.7% | 20.7% | 0.23 | 58.7% |
| Bitcoin (BTCUSD) | 61.3% | 66.2% | 1.01 | 19.7% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Earnings Returns History
Updated 11/6/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 10/29/2026 | -0.8% | -4.2% | |
| 7/29/2026 | -2.8% | -0.8% | -5.0% |
| 4/28/2026 | 1.5% | 1.5% | 10.2% |
| 2/25/2026 | 7.7% | 6.0% | 3.8% |
| 11/5/2025 | 1.3% | 9.3% | 4.4% |
| 7/29/2025 | -4.8% | -6.5% | 6.6% |
| 5/1/2025 | 0.0% | 3.7% | -0.9% |
| 2/26/2025 | 4.3% | 1.0% | -12.2% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 12 | 10 | 7 |
| # Negative | 12 | 14 | 16 |
| Median Positive | 1.4% | 2.1% | 5.0% |
| Median Negative | -2.4% | -5.6% | -3.9% |
| Max Positive | 7.7% | 12.4% | 11.2% |
| Max Negative | -10.1% | -8.6% | -14.6% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 10/29/2026 | -0.8% | -4.2% | |
| 7/29/2026 | -2.8% | -0.8% | -5.0% |
| 4/28/2026 | 1.5% | 1.5% | 10.2% |
| 2/25/2026 | 7.7% | 6.0% | 3.8% |
| 11/5/2025 | 1.3% | 9.3% | 4.4% |
| 7/29/2025 | -4.8% | -6.5% | 6.6% |
| 5/1/2025 | 0.0% | 3.7% | -0.9% |
| 2/26/2025 | 4.3% | 1.0% | -12.2% |
| 11/7/2024 | -2.3% | -7.3% | 11.2% |
| 7/24/2024 | 0.9% | 1.4% | -3.9% |
| 4/23/2024 | 1.0% | -6.0% | -5.0% |
| 2/21/2024 | -2.5% | -5.2% | -3.5% |
| 10/26/2023 | -10.1% | -6.3% | -4.3% |
| 7/27/2023 | 7.7% | 2.6% | -2.8% |
| 4/26/2023 | -0.2% | 0.6% | -3.2% |
| 2/21/2023 | -0.9% | -2.5% | -12.4% |
| 10/27/2022 | -0.2% | -8.6% | -1.9% |
| 7/26/2022 | 1.7% | 1.6% | 2.6% |
| 4/26/2022 | 0.9% | -2.7% | -14.6% |
| 2/22/2022 | -4.5% | -6.9% | -0.4% |
| 10/28/2021 | 2.8% | 12.4% | -1.5% |
| 7/29/2021 | -1.3% | -2.9% | -3.9% |
| 4/29/2021 | -4.0% | -6.6% | -10.2% |
| 2/23/2021 | 1.3% | -1.4% | 5.0% |
| SUMMARY STATS | |||
| # Positive | 12 | 10 | 7 |
| # Negative | 12 | 14 | 16 |
| Median Positive | 1.4% | 2.1% | 5.0% |
| Median Negative | -2.4% | -5.6% | -3.9% |
| Max Positive | 7.7% | 12.4% | 11.2% |
| Max Negative | -10.1% | -8.6% | -14.6% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 09/30/2026 | 10/29/2026 | 10-Q |
| 06/30/2026 | 07/29/2026 | 10-Q |
| 03/31/2026 | 04/28/2026 | 10-Q |
| 12/31/2025 | 02/25/2026 | 10-K |
| 09/30/2025 | 11/05/2025 | 10-Q |
| 06/30/2025 | 07/29/2025 | 10-Q |
| 03/31/2025 | 05/01/2025 | 10-Q |
| 12/31/2024 | 02/26/2025 | 10-K |
| 09/30/2024 | 11/07/2024 | 10-Q |
| 06/30/2024 | 07/24/2024 | 10-Q |
| 03/31/2024 | 04/23/2024 | 10-Q |
| 12/31/2023 | 02/21/2024 | 10-K |
| 09/30/2023 | 10/26/2023 | 10-Q |
| 06/30/2023 | 07/27/2023 | 10-Q |
| 03/31/2023 | 04/26/2023 | 10-Q |
| 12/31/2022 | 02/21/2023 | 10-K |
| Report Date | Filing Date | Filing |
|---|---|---|
| 09/30/2026 | 10/29/2026 | 10-Q |
| 06/30/2026 | 07/29/2026 | 10-Q |
| 03/31/2026 | 04/28/2026 | 10-Q |
| 12/31/2025 | 02/25/2026 | 10-K |
| 09/30/2025 | 11/05/2025 | 10-Q |
| 06/30/2025 | 07/29/2025 | 10-Q |
| 03/31/2025 | 05/01/2025 | 10-Q |
| 12/31/2024 | 02/26/2025 | 10-K |
| 09/30/2024 | 11/07/2024 | 10-Q |
| 06/30/2024 | 07/24/2024 | 10-Q |
| 03/31/2024 | 04/23/2024 | 10-Q |
| 12/31/2023 | 02/21/2024 | 10-K |
| 09/30/2023 | 10/26/2023 | 10-Q |
| 06/30/2023 | 07/27/2023 | 10-Q |
| 03/31/2023 | 04/26/2023 | 10-Q |
| 12/31/2022 | 02/21/2023 | 10-K |
| 09/30/2022 | 10/27/2022 | 10-Q |
| 06/30/2022 | 07/26/2022 | 10-Q |
| 03/31/2022 | 04/26/2022 | 10-Q |
| 12/31/2021 | 02/22/2022 | 10-K |
| 09/30/2021 | 10/28/2021 | 10-Q |
| 06/30/2021 | 07/29/2021 | 10-Q |
| 03/31/2021 | 04/29/2021 | 10-Q |
| 12/31/2020 | 02/23/2021 | 10-K |
| 09/30/2020 | 10/29/2020 | 10-Q |
| 06/30/2020 | 07/30/2020 | 10-Q |
| 03/31/2020 | 05/07/2020 | 10-Q |
| 12/31/2019 | 02/20/2020 | 10-K |
Recent Forward Guidance
Updated 10/30/2026Latest: Q3 2026 Earnings Reported 10/29/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q4 2026 Net Loss | Reported | -12.50 Mil | -10.50 Mil | -8.50 Mil | -195.5% | Lower New | Guidance: 11.00 Mil for Q3 2026 | |
| Q4 2026 Adjusted FFO | Reported | 29.50 Mil | 31.50 Mil | 33.50 Mil | -44.7% | Lower New | Guidance: 57.00 Mil for Q3 2026 | |
| Q4 2026 Adjusted FFO per diluted share | Reported | 0.26 | 0.28 | 0.3 | -44.0% | Lower New | Guidance: 0.5 for Q3 2026 | |
| Q4 2026 Same-Property RevPAR | Reported | 209 | 211 | 213 | ||||
| Q4 2026 Same-Property RevPAR growth rate | Reported | 4.0% | 5.0% | 6.0% | ||||
| Q4 2026 Same-Property Total RevPAR growth rate | Reported | 2.8% | 3.8% | 4.8% | ||||
| Q4 2026 Same-Property Total Expense growth rate | Reported | 2.1% | 2.6% | 3.1% | ||||
| Q4 2026 FFO per common share - diluted | Reported | 0.2 | 0.22 | 0.24 | ||||
| Q4 2026 Same-Property Total Revenue growth rate | Reported | 2.8% | 3.8% | 4.8% | ||||
| Q4 2026 Adjusted EBITDAre | Reported | 66.00 Mil | 68.00 Mil | 70.00 Mil | -28.0% | Lower New | Guidance: 94.50 Mil for Q3 2026 | |
| Q4 2026 Same-Property Hotel EBITDA | Reported | 73.00 Mil | 75.00 Mil | 77.00 Mil | ||||
| Q4 2026 Same-Property Hotel EBITDA growth rate | Reported | 5.7% | 8.6% | 11.5% | ||||
| 2026 Capital Investments | Reported | 60.00 Mil | 65.00 Mil | 70.00 Mil | ||||
| 2026 Net Loss | Reported | -60.50 Mil | -58.50 Mil | -56.50 Mil | -2953.7% | Lowered | Guidance: 2.05 Mil for 2026 | |
| 2026 Adjusted FFO | Reported | 215.50 Mil | 217.50 Mil | 219.50 Mil | ||||
| 2026 Adjusted FFO per diluted share | Reported | 1.88 | 1.9 | 1.92 | 10.1% | Raised | Guidance: 1.73 for 2026 | |
| 2026 U.S. hotel industry RevPAR growth rate | Reported | 5.5% | 5.75% | 6.0% | ||||
| 2026 Same-Property RevPAR growth rate | Reported | 7.6% | 7.8% | 8.0% | ||||
| 2026 Same-Property Total RevPAR growth rate | Reported | 6.1% | 6.3% | 6.5% | 1.6% | Raised | Guidance: 4.7% for 2026 | |
| 2026 Same-Property Total Expense growth rate | Reported | 3.8% | 3.9% | 4.0% | ||||
| 2026 FFO per common share - diluted | Reported | 1.68 | 1.7 | 1.71 | ||||
| 2026 Same-Property Total Revenue growth rate | Reported | 6.1% | 6.3% | 6.5% | ||||
| 2026 Adjusted EBITDAre | Reported | 363.30 Mil | 365.30 Mil | 367.30 Mil | 4.7% | Raised | Guidance: 349.00 Mil for 2026 | |
| 2026 Same-Property Hotel EBITDA | Reported | 393.80 Mil | 395.80 Mil | 397.80 Mil | ||||
| 2026 Same-Property Hotel EBITDA growth rate | Reported | 12.9% | 13.5% | 14.1% | ||||
| 2026 Free Cash Flow | Reported | 14.60 Mil | 148.00 Mil | 15.00 Mil | ||||
Prior: Q2 2026 Earnings Reported 7/29/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q3 2026 Adjusted FFO | Reported | 55.00 Mil | 57.00 Mil | 59.00 Mil | -17.4% | Lower New | Guidance: 69.00 Mil for Q2 2026 | |
| Q3 2026 Adjusted FFO per diluted share | Reported | 0.48 | 0.5 | 0.52 | -16.7% | Lower New | Guidance: 0.6 for Q2 2026 | |
| Q3 2026 Adjusted EBITDAre | Reported | 92.50 Mil | 94.50 Mil | 96.50 Mil | -12.5% | Lower New | Guidance: 108.00 Mil for Q2 2026 | |
| Q3 2026 Net income | Reported | 9.00 Mil | 11.00 Mil | 13.00 Mil | -48.8% | Lower New | Guidance: 21.50 Mil for Q2 2026 | |
| 2026 Same-Property Total RevPAR Growth Rate | Reported | 4.1% | 4.7% | 5.3% | ||||
| 2026 Adjusted FFO per diluted share | Reported | 1.69 | 1.73 | 1.76 | 4.5% | Raised | Guidance: 1.65 for 2026 | |
| 2026 Adjusted EBITDAre | Reported | 345.00 Mil | 349.00 Mil | 353.00 Mil | 2.0% | Raised | Guidance: 342.00 Mil for 2026 | |
| 2026 Net income | Reported | -1.70 Mil | 2.05 Mil | 6.30 Mil | Raised | Guidance: 0 for 2026 | ||
| 2026 Free Cash Flow per diluted share | Reported | 1.04 | 1.08 | 1.11 | Raised | |||
Q1 2026 Earnings Reported 4/28/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q2 2026 Adjusted FFO | Reported | 67.00 Mil | 69.00 Mil | 71.00 Mil | ||||
| Q2 2026 Adjusted FFO per diluted share | Reported | 0.58 | 0.6 | 0.62 | 185.7% | Higher New | Actual: 0.21 for Q1 2026 | |
| Q2 2026 Adjusted EBITDAre | Reported | 106.00 Mil | 108.00 Mil | 110.00 Mil | 74.2% | Higher New | Actual: 62.00 Mil for Q1 2026 | |
| Q2 2026 Net income (loss) | Reported | 19.50 Mil | 21.50 Mil | 23.50 Mil | Higher New | Actual: -18.30 Mil for Q1 2026 | ||
| 2026 Adjusted FFO | Reported | 184.00 Mil | 190.00 Mil | 196.00 Mil | ||||
| 2026 Adjusted FFO per diluted share | Reported | 1.6 | 1.65 | 1.7 | 5.8% | Raised | Guidance: 1.56 for 2026 | |
| 2026 Adjusted EBITDAre | Reported | 336.00 Mil | 342.00 Mil | 348.00 Mil | 3.0% | Raised | Guidance: 332.00 Mil for 2026 | |
| 2026 Net income (loss) | Reported | -6.00 Mil | 0 | 6.00 Mil | Raised | Guidance: -3.40 Mil for 2026 | ||
| 2026 Free Cash Flow | Reported | 114.50 Mil | 115.50 Mil | 116.50 Mil | ||||
Q4 2025 Earnings Reported 2/25/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q1 2026 Adjusted FFO per diluted share | Reported | 0.19 | 0.21 | 0.23 | -4.5% | Lower New | Actual: 0.22 for Q4 2025 | |
| Q1 2026 Adjusted EBITDAre | Reported | 60.00 Mil | 62.00 Mil | 64.00 Mil | -3.4% | Lower New | Actual: 64.20 Mil for Q4 2025 | |
| Q1 2026 Net income/(loss) | Reported | -20.30 Mil | -18.30 Mil | -16.30 Mil | 3.4% | Lower New | Actual: -17.70 Mil for Q4 2025 | |
| 2026 Same-Property Total RevPAR Growth Rate | Reported | 2.25% | 3.25% | 4.25% | ||||
| 2026 Adjusted FFO per diluted share | Reported | 1.5 | 1.56 | 1.62 | 1.6% | Higher New | Actual: 1.54 for 2025 | |
| 2026 Adjusted EBITDAre | Reported | 325.00 Mil | 332.00 Mil | 339.00 Mil | -1.5% | Lower New | Actual: 337.00 Mil for 2025 | |
| 2026 Net income/(loss) | Reported | -10.40 Mil | -3.40 Mil | 3.60 Mil | -94.6% | Higher New | Actual: -63.00 Mil for 2025 | |
| 2026 Capital Expenditures | Reported | 65.00 Mil | 70.00 Mil | 75.00 Mil | ||||
Insider Activity
Updated 8/4/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Fisher, Thomas Charles | Co-President, C Investmt Ofcr | Direct | Sell | 8042026 | 19.25 | 40,000 | 770,120 | 5,490,243 | Form |
| 2 | Bortz, Jon E | Chairman and CEO | Direct | Buy | 6152026 | 18.18 | 20,000 | 363,600 | 30,126,260 | Form |
| 3 | Bortz, Jon E | Chairman and CEO | Direct | Buy | 6122026 | 17.73 | 20,000 | 354,600 | 29,025,960 | Form |
| 4 | Bortz, Jon E | Chairman and CEO | Direct | Buy | 6122026 | 17.23 | 20,000 | 344,600 | 27,862,805 | Form |
| 5 | Bortz, Jon E | Chairman and CEO | Direct | Buy | 6092026 | 17.09 | 20,000 | 341,800 | 27,294,610 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Fisher, Thomas Charles | Co-President, C Investmt Ofcr | Direct | Sell | 8042026 | 19.25 | 40,000 | 770,120 | 5,490,243 | Form |
| 2 | Bortz, Jon E | Chairman and CEO | Direct | Buy | 6152026 | 18.18 | 20,000 | 363,600 | 30,126,260 | Form |
| 3 | Bortz, Jon E | Chairman and CEO | Direct | Buy | 6122026 | 17.73 | 20,000 | 354,600 | 29,025,960 | Form |
| 4 | Bortz, Jon E | Chairman and CEO | Direct | Buy | 6122026 | 17.23 | 20,000 | 344,600 | 27,862,805 | Form |
| 5 | Bortz, Jon E | Chairman and CEO | Direct | Buy | 6092026 | 17.09 | 20,000 | 341,800 | 27,294,610 | Form |
| 6 | Bortz, Jon E | Chairman and CEO | Direct | Buy | 6092026 | 16.84 | 20,000 | 336,800 | 26,558,532 | Form |
| 7 | Bortz, Jon E | Chairman and CEO | Direct | Sell | 12162025 | 11.26 | 50,000 | 563,150 | 17,537,730 | Form |
| 8 | Schall, Michael J | Direct | Buy | 11202025 | 10.85 | 10,000 | 108,500 | 1,298,669 | Form | |
| 9 | Schall, Michael J | Direct | Buy | 8212025 | 10.08 | 10,000 | 100,800 | 1,105,705 | Form |
Investor Activity (13F)
Updated Nov 6, 202613F holdings as of Mar 31, 2026 (Q1 2026)
Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.
Industry Resources
| Real Estate Resources |
| The Real Deal |
| Commercial Observer |
| Inman |
| Hotel & Resort REITs Resources |
| Hotel News Now |
| Hospitality Net |
| Lodging Magazine |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
Prefer one of these to Trefis? Tell us why.
Core Cache Last Updated: 11/5/2026