Financial Data and Key Metrics Changes - Same-property RevPAR increased by 2.2%, which would have exceeded 2.4% without the impact of hurricanes [7] - Total RevPAR rose by 2.7%, driven by increased occupancy and a 3.8% growth in out-of-room spending [8] - Adjusted EBITDA exceeded the midpoint of Q3 outlook by $8.7 million, and adjusted FFO beat the midpoint by $9.7 million or $0.08 per share [9] Business Line Data and Key Metrics Changes - Urban properties saw a 3.7% year-over-year occupancy increase, with urban weekend occupancy exceeding 85% [12] - Resort same-property occupancy declined by 5.9% year-over-year, reaching 74.3%, but weekday occupancy improved by 6.7% [14] - Same-property resort total RevPAR increased by 2.5%, significantly higher than the 0.8% increase in same-property resort RevPAR alone [18] Market Data and Key Metrics Changes - Strongest urban markets included Chicago, San Diego, and Boston, benefiting from active convention calendars and improved weekday business travel [11] - Combined RevPAR for San Francisco, Los Angeles, and Portland declined by 5.7% in Q3, with a forecasted decline of 5.6% for the full year [49] - Urban properties in Boston, San Diego, and Chicago grew combined RevPAR by 9.6% in Q3, forecasted to achieve 8.1% growth for the full year [50] Company Strategy and Development Direction - The company is focused on capital reinvestments to enhance property appeal and gain market share [15] - Major capital investment program is largely complete, with expectations for significantly lower CapEx over the next few years [26] - The company plans to continue leveraging its redeveloped properties to drive significant RevPAR growth and EBITDA gains [56] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism for 2025, expecting demand growth to align with GDP growth, leading to higher occupancies [42] - The company anticipates headwinds in urban markets turning into tailwinds, with significant growth from ongoing share gains in redeveloped properties [59] - Management noted that the normalization of leisure demand and the return of international inbound travel could further benefit urban markets [60] Other Important Information - The company has strengthened its financial position by extending debt maturities and reducing bank term loans [35] - The decision to discontinue monthly operating updates signals confidence in the improved stability of the industry and portfolio [36] - The company expects a combined impact of hurricanes to reduce Q4 same-property RevPAR by approximately 100 basis points [31] Q&A Session Summary Question: Will LaPlaya exceed this year's original $24 million EBITDA expectation next year? - Management believes it is reasonable to expect LaPlaya to return to its original EBITDA expectations due to increased group bookings and club growth [63] Question: What are the expectations for leisure customers and pushing rates at resorts in 2025? - Management indicated that while average rates are stabilizing, they expect to push rates higher as occupancy increases, particularly with group bookings [66] Question: What are the expectations for wages and benefit growth next year? - Management anticipates average wage increases to be slightly lower than last year, with union markets potentially seeing larger increases [68] Question: How do you rank San Francisco, Portland, and LA for long-term prospects? - Management is optimistic about the underlying fundamentals of these markets and believes they will recover, although it may take time [72] Question: What is the update on Curator's progress and goals? - Curator has around 100 members and is expected to grow, providing significant cost savings and value creation for properties [83] Question: What are the expectations for CapEx spending in 2025? - Management expects a run rate of $65 million to $75 million for CapEx in 2025, significantly lower than previous years [90]

Core Insights - Pebblebrook Hotel (PEB) reported revenue of $404.53 million for the quarter ended September 2024, reflecting a 2.2% increase year-over-year and a surprise of +0.74% over the Zacks Consensus Estimate of $401.57 million [1] - The company achieved an EPS of $0.59, a significant improvement from -$0.57 in the same quarter last year, with an EPS surprise of +11.32% compared to the consensus estimate of $0.53 [1] Financial Performance Metrics - Same-Property RevPAR growth rate was 2.7%, exceeding the average estimate of 1.8% from three analysts [3] - Total Guest Rooms stood at 12,000, surpassing the two-analyst average estimate of 11,702 [3] - Revenue from Food and Beverage reached $96 million, compared to the estimated $93.64 million, marking a year-over-year increase of +4.7% [3] - Revenue from Other Operating activities was $45.78 million, exceeding the five-analyst average estimate of $44.91 million, representing a +2.3% year-over-year change [3] - Room revenue was reported at $262.76 million, slightly above the $261.92 million average estimate, indicating a +1.3% change year-over-year [3] - Net Earnings Per Share (Diluted) was $0.24, significantly higher than the $0.01 average estimate from five analysts [3] Stock Performance - Shares of Pebblebrook Hotel have returned +3.7% over the past month, outperforming the Zacks S&P 500 composite's +3.2% change [3] - The stock currently holds a Zacks Rank 3 (Hold), suggesting it may perform in line with the broader market in the near term [3]

Pebblebrook Hotel (PEB) came out with quarterly funds from operations (FFO) of $0.59 per share, beating the Zacks Consensus Estimate of $0.53 per share. This compares to FFO of $0.61 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an FFO surprise of 11.32%. A quarter ago, it was expected that this hotel investment company would post FFO of $0.60 per share when it actually produced FFO of $0.69, delivering a surprise of 15%.Over the last four quarters ...

Here at Zacks, we focus on our proven ranking system, which places an emphasis on earnings estimates and estimate revisions, to find winning stocks. But we also understand that investors develop their own strategies, so we are constantly looking at the latest trends in value, growth, and momentum to find strong companies for our readers. Of these, value investing is easily one of the most popular ways to find great stocks in any market environment. Value investors use tried-and-true metrics and fundamental ...

Investors looking for stocks in the REIT and Equity Trust - Other sector might want to consider either Pebblebrook Hotel (PEB) or Omega Healthcare Investors (OHI) . But which of these two stocks presents investors with the better value opportunity right now? Let's take a closer look. We have found that the best way to discover great value opportunities is to pair a strong Zacks Rank with a great grade in the Value category of our Style Scores system. The Zacks Rank is a proven strategy that targets companie ...

Pebblebrook Hotel (PEB) is looking like an interesting pick from a technical perspective, as the company reached a key level of support. Recently, PEB broke out above the 50-day moving average, suggesting a shortterm bullish trend. The 50-day simple moving average is a widely used technical indicator that helps determine support or resistance levels for different types of securities. It's one of three major moving averages, but takes precedent because it's the first sign of an up or down trend. Shares of PE ...

Pebblebrook Hotel Trust (PEB) witnessed same-property total revenues growth of 1.7% in July on a yearover-year basis. Per its recently released update, this was driven by a 4.3% rise in non-room revenue. The company noted that for the overall portfolio, same-property revenue per available room ("RevPAR") exhibited a year-over-year increase of 0.3%, mainly driven by a 3.1% rise in occupancy. However, a 2.8% decrease in average daily rate ("ADR") hurt RevPAR to some extent. Management expects July to be the s ...

Pebblebrook Hotel (PEB) has been on a downward spiral lately with significant selling pressure. After declining 9.9% over the past four weeks, the stock looks well positioned for a trend reversal as it is now in oversold territory and there is strong agreement among Wall Street analysts that the company will report better earnings than they predicted earlier. How to Determine if a Stock is Oversold We use Relative Strength Index (RSI), one of the most commonly used technical indicators, for spotting whether ...

Right now, Pebblebrook Hotel is sporting a Zacks Rank of #1 (Strong Buy), while Omega Healthcare Investors has a Zacks Rank of #2 (Buy). The Zacks Rank favors stocks that have recently seen positive revisions to their earnings estimates, so investors should rest assured that PEB has an improving earnings outlook. But this is only part of the picture for value investors. PEB currently has a forward P/E ratio of 8.65, while OHI has a forward P/E of 13.13. We also note that PEB has a PEG ratio of 0.62. This po ...

While the proven Zacks Rank places an emphasis on earnings estimates and estimate revisions to find strong stocks, we also know that investors tend to develop their own individual strategies. With this in mind, we are always looking at value, growth, and momentum trends to discover great companies. On top of the Zacks Rank, investors can also look at our innovative Style Scores system to find stocks with specific traits. For example, value investors will want to focus on the "Value" category. Stocks with hi ...