- Pebblebrook Hotel press release ( NYSE: PEB ): Q3 AFFO of $0.66
- Net income of $26.3M (+-211.9% Y/Y).
- Same-Property RevPAR (1) : up 45.9% vs. 2021 and 1.3% vs. 2019
- Same-Property ADR (1) , exceeded 2021 by 10.3% and 2019 by 19.9%
- Same-Property Total Revenues (1) : $403.9 million, exceeded 2021 by 44.2% and 2019 by 2.5%
- Adjusted EBITDAre (1) : $124.1 million, 112.5% above 2021 and 89.5% recovered vs. 2019
- Adjusted FFO (1) per diluted share: $0.66 vs. $0.19 in 2021 and $0.78 in 2019
- Completed a $2.0 billion refinancing in October 2022, extending maturities of all term loans and the unsecured revolvers while maintaining the pre-pandemic pricing grid
- Q4 Outlook :
- Net loss: ($32.2) to ($24.2) million
- Same-Property RevPAR (1) var: (3.0%) to flat vs. 2019; +32.1% to +36.2% vs. 2021
- Adjusted EBITDAre (1) : $63.8 to $71.8 million vs. $44.0 million in 2021
- Adjusted FFO (1) per diluted share: $0.18 to $0.24, vs. $0.08 in 2021; outlook incorporates the Company’s estimated ($10.5) million loss of Hotel EBITDA and ($0.08) per share to AFFO due to Hurricane Ian’s impact on LaPlaya Beach Resort & Club’s operations
- Shares -2.1% .
For further details see:
Pebblebrook Hotel reports Q3 results