Pebblebrook Hotel Trust(US:PEB)2025-05-02 12:08Portfolio Repositioning - Pebblebrook has strategically shifted its portfolio towards leisure-oriented and group-focused properties, reducing exposure to urban and corporate transient markets since 2019[15] - Resort EBITDA contribution increased from 17% to 45%, while Urban EBITDA contribution decreased from 83% to 55%[19] - East Coast properties now contribute 54% of EBITDA, up from 38%[19] - San Francisco's EBITDA contribution declined by 19%, and West Coast properties now contribute 43% of EBITDA, down from 56%[19] Financial Performance and Growth Opportunities - The company estimates a Hotel EBITDA upside of approximately $71 million, translating to $0.46 per share of Adjusted FFO (AFFO) upside[11, 23] - Urban markets recovery is expected to contribute $45+ million in Hotel EBITDA upside[23, 37] - ROI from redevelopment projects is expected to contribute $10 million in Hotel EBITDA upside[23] - LaPlaya EBITDA growth opportunity is estimated at $16 million[23, 24] Valuation and Balance Sheet - Pebblebrook's recent public market valuation reflects an approximate 65% discount to its recently calculated private market valuation of $2500 per share[11, 56] - As of March 31, 2025, the company had $2182 million in cash and $6426 million of undrawn availability on its senior unsecured revolving credit facility[69] - The company's weighted-average interest rate is 42%, and its weighted-average debt maturity is approximately 28 years[69]