Pebblebrook Hotel Trust(US:PEB)2021-03-01 19:50Investment Highlights - Pebblebrook focuses on unique, experiential, lifestyle urban hotels and resorts[10, 21, 23] - The company has a diversified portfolio in key gateway cities and resort markets[10, 63] - Pebblebrook has a relentless approach to avant-garde design, asset management and capital allocation[10, 74] - The company is positioned for superior growth and has a proven track record of delivering superior returns to shareholders[10, 103] Portfolio Composition (Based on 2019 Operating Results) - Urban Lifestyle hotels comprise 39 hotels with 8,431 rooms, contributing 64% of EBITDA[27, 29] - Unique Lifestyle Resorts consist of 8 resorts with 1,901 rooms, contributing 18% of EBITDA[30] - Urban Major Brand hotels include 6 hotels with 2,902 rooms, contributing 18% of EBITDA[30] Financial Performance (2019) - The Total Pebblebrook Portfolio (53 properties / 13,234 rooms) achieved an ADR of $258, RevPAR of $211, Total RevPAR of $309, EBITDA Margin of 31.9%, and EBITDA per Room of $36,000[33] - Urban Iconic hotels achieved an EBITDA per Room of $40,000[43] - "The Unofficial Z Collection" achieved an EBITDA Margin of 39.6%[50] Capital Allocation - Pebblebrook completed 16 dispositions in 2018-2020 for $1.7 billion of gross proceeds[89]