Pebblebrook expects 2026 retained free cash flow of $146 million-$150 million
PEB•Pebblebrook expects 2026 retained free cash flow of $146 million-$150 million, supporting debt reduction and opportunistic share repurchases. It projects hotel EBITDA to reach $439 million by 2028, approximately $90 million above 2025 levels.
1. Cash flow outlook
Pebblebrook expects 2026 retained free cash flow of $146 million-$150 million, which it says will support debt reduction and opportunistic share repurchases.
2. Hotel EBITDA growth
The company projects hotel EBITDA to rise approximately $90 million above 2025 levels through 2028, reaching $439 million. Growth drivers include urban recovery, LaPlaya's stabilization and returns from remaining redevelopments.
3. Urban recovery scenario
Pebblebrook's urban recovery scenario targets $70 million of incremental hotel EBITDA at approximately 80% occupancy, below 2019's 85%. It forecasts urban hotel supply growth averaging 0.9% in 2026-2028, versus 2.3% in 2015-2019.
