Pebblebrook Hotel Trust Reports Third Quarter 2026 Results
Pebblebrook reported Q3 2026 Adjusted FFO of $0.63 per diluted share, +23.5% YoY and $0.11 above the high end of its outlook, with Same-Property Hotel EBITDA of $115.2 million, up 15.1%. Same-Property RevPAR rose 8.3% on ADR gains of 7.0%, and the company raised its 2026 outlook for the third consecutive quarter — Adjusted EBITDAre midpoint up $16.3 million and AFFO/share midpoint up $0.17 to $1.88-$1.92. GAAP net loss widened to $54.6 million on $77.3 million of non-cash impairments tied to dispositions, while the company sold The Hotel Zags Portland for $10.0 million, repurchased $20.9 million of common and $7.2 million of preferred shares, and cut net debt/EBITDA to 5.1x.
Key figures
- Eps
- -0.56
- Revenue
- $402.7 million
- Guidance
- 2026 Adjusted EBITDAre $363.3-$367.3M (midpoint +$16.3M); AFFO/share $1.88-$1.92 (midpoint +$0.17, +20.3% vs 2025); Free Cash Flow $146.0-$150.0M; Same-Property RevPAR growth +7.6% to +8.0%
- Revenue Yoy
- 1.0%
- Affo per share
- 0.63
- Adjusted ebitdare
- 107900000
- Affo per share yoy
- 23.5%
- Impairment charges
- 77300000
- Net debt to ebitda
- 5.1x
- Nav per share range
- $23.50-$27.50
- Q3 share repurchases
- 1.2M common shares for $20.9M; 0.4M preferred for $7.2M
- Cash and restricted cash
- 298000000
- Same property hotel ebitda
- 115200000
- Same property revpar growth
- 8.3%
- Same property hotel ebitda yoy
- 15.1%
AI analysis
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