PEB - Pebblebrook Hotel FFO of $0.14 beats by $0.04 revenue of $305.72M beats by $14.13M

2023-04-26 16:24:07 ET

• Pebblebrook Hotel press release ( NYSE: PEB ): Q1 FFO of $0.14 beats by $0.04 .
• Revenue of $305.72M (+18.5% Y/Y) beats by $14.13M .
• Same-Property Total RevPAR increased 23.8% vs. 2022
• Business demand, both group and transient, continues to recover, benefiting our urban markets as well as our resorts; group revenue pace for Q2-Q4 2023 is up 20% over the prior year, with ADR ahead by 8.7%
• Q2 2023 OUTLOOK
• Net income: $34.0 to $38.9 million
• Same-Property RevPAR(1) +1.0% to +4.0% vs. 2022
• Adjusted EBITDAre: $107.5 to $113.0 million
• Adjusted FFO per diluted share: $0.52 to $0.57 vs $0.62 consensus

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