Pebblebrook Hotel Trust Q3 EBITDA rises 15.1% on strong travel demand
PEB•Pebblebrook Hotel Trust’s third-quarter same-property hotel EBITDA rose 15.1% year over year, while adjusted FFO per share increased 23.5% to $0.63. The company raised its 2026 adjusted EBITDAre and adjusted FFO per-share outlook.
1. Quarterly results
Pebblebrook Hotel Trust reported third-quarter same-property EBITDA of $115.2 million, up 15.1% year over year. Room revenue was $258.3 million, net loss was $54.6 million and adjusted FFO was $71.6 million; adjusted FFO per share rose 23.5% to $0.63.
2. Outlook and operations
The company raised its 2026 adjusted EBITDAre outlook to $363.3 million-$367.3 million and now expects adjusted FFO per diluted share of $1.88-$1.92. It expects fourth-quarter adjusted FFO per diluted share of $0.26-$0.30. Pebblebrook attributed broad RevPAR growth to higher average daily rates and strong transient demand, and said expense management and operating efficiencies supported margin expansion. Resort and urban hotels posted strong RevPAR gains, with notable growth in San Francisco, Chicago, Los Angeles and Boston.
3. Portfolio activity
After the quarter, Pebblebrook sold Hotel Zags Portland and repurchased shares during the third quarter.
