Pebblebrook Hotel Trust (PEB) Form 8-K — Oct 29, 2026
Pebblebrook Hotel Trust beat the high end of its Q3 2026 outlook for the third consecutive quarter, with Adjusted FFO per diluted share of $0.63, up 23.5% year-over-year and $0.11 above the top of guidance. Same-Property Hotel EBITDA rose 15.1% to $115.2 million on rate-led RevPAR growth of 8.3% and just 4.0% expense growth. The company raised its full-year 2026 outlook, lifting the Adjusted EBITDAre midpoint by $16.3 million to $363.3-$367.3 million and Adjusted FFO per share guidance to $1.88-$1.92, roughly +20.3% versus 2025. Management also raised its NAV estimate by $1.00 to $23.50-$27.50 per share.
Key figures
- Guidance
- 2026: net loss ($60.5)M to ($56.5)M; Adjusted EBITDAre $363.3M-$367.3M; Adjusted FFO per diluted share $1.88-$1.92 (+20.3% vs 2025 at midpoint); Free Cash Flow $146.0M-$150.0M
- Cash Position
- 298000000
- Updated nav range
- $23.50-$27.50 per share
- Net debt to ebitda
- 5.1x
- Adjusted ebitdare q3
- 107900000
- Hotel zags sale price
- $10.0 million
- Impairment charges q3
- 77300000
- Preferred repurchases q3
- 0.4 million shares for $7.2 million at 23% discount to liquidation preference
- Adjusted ffo per share yoy
- +23.5%
- Common shares repurchased q3
- 1.2 million for $20.9 million at $18.12 average
- Same property hotel ebitda q3
- 115200000
- Convertible notes due dec 2026
- $350 million
- Same property hotel ebitda yoy
- +15.1%
- Same property revpar growth q3
- +8.3%
- Adjusted ffo per diluted share q3
- 0.63
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