BETHESDA, Md.–(Business WIRE)–Pebblebrook Resort Trust (NYSE: PEB) (the “Company”) today delivered an update on current operating developments, which continue on to boost just about every 7 days. The Organization expects to achieve beneficial Modified EBITDAre in the next quarter of 2021 and good Adjusted Funds from Operations (“FFO”) in the third quarter of 2021.
Please check out https://trader.pebblebrookhotels.com/trader-displays-1/ to view the up-to-date presentation the Corporation issued on its internet site with added information on the present-day running developments.
The Organization also declared that it executed a contract to acquire the 369-space Margaritaville Hollywood Seashore Vacation resort in Hollywood, Florida for $270. million. The acquisition is anticipated to be funded from existing cash on hand and is targeted to be done by the finish of the 3rd quarter of 2021. As part of the acquisition, the Corporation may perhaps believe up to $161.5 million of secured, non-recourse financial debt currently in area. The obtain is issue to usual closing conditions, and the Corporation presents no assurances that this acquisition will be finished on these conditions or at all.
The Organization also declared that it intends to marketplace for sale the 189-space Villa Florence San Francisco on Union Sq. in San Francisco, California. On the other hand, the Business offers no assurances that a sale will be accomplished.
About Pebblebrook Lodge Trust
Pebblebrook Hotel Have confidence in (NYSE: PEB) is a publicly traded true estate investment believe in (“REIT”) and the largest proprietor of urban and resort life-style resorts in the United States. The Business owns 51 lodges, totaling somewhere around 12,600 guest rooms throughout 13 urban and vacation resort markets with a concentration on the west coastline gateway cities. For extra information, visit www.pebblebrookhotels.com and adhere to us at @PebblebrookPEB.
This press launch includes specific “forward-wanting statements” produced pursuant to the safe harbor provisions of the Non-public Securities Reform Act of 1995. Ahead-seeking statements are generally identifiable by the use of forward-looking terminology this kind of as “may,” “will,” “should,” “potential,” “intend,” “expect,” “seek,” “anticipate,” “estimate,” “approximately,” “believe,” “could,” “project,” “predict,” “forecast,” “continue,” “assume,” “plan,” references to “outlook” or other very similar words or expressions. Forward-searching statements are primarily based on selected assumptions and can contain long term expectations, potential options and approaches, fiscal and working projections and forecasts and other forward-on the lookout details and estimates. Illustrations of ahead-looking statements contain the subsequent: the Company’s anticipations pertaining to Adjusted EBITDAre and Altered FFO, the Company’s intent to current market for sale a lodge house, the Company’s intent to get a lodge property and assume related credit card debt, and descriptions of assumptions fundamental or relating to any of the foregoing expectations which includes assumptions regarding the timing of their prevalence. These forward-looking statements are topic to several hazards and uncertainties, numerous of which are over and above the Company’s handle, which could induce genuine final results to differ materially from this sort of statements. These risks and uncertainties consist of, but are not minimal to, the condition of the U.S. economic system and the provide of resort attributes, and other factors as are explained in better detail in the Company’s filings with the Securities and Trade Commission, such as, without having limitation, the Company’s Annual Report on Variety 10-K for the year finished December 31, 2020. Unless legally required, the Corporation disclaims any obligation to update any ahead-hunting statements, whether as a consequence of new info, future situations or if not.
For even more facts about the Company’s small business and fiscal benefits, make sure you refer to the “Management’s Discussion and Examination of Economic Issue and Benefits of Operations” and “Risk Factors” sections of the Company’s SEC filings, including, but not constrained to, its Annual Report on Type 10-K and Quarterly Reports on Type 10-Q, copies of which may be obtained at the Investor Relations section of the Company’s web page at www.pebblebrookhotels.com.
All facts in this press release is as of June 23, 2021. The Company undertakes no obligation to update the statements in this push launch to conform the statements to precise outcomes or adjustments in the Company’s expectations.
For supplemental data or to obtain press releases via e-mail, make sure you visit our internet site at www.pebblebrookhotels.com