Pebblebrook Hotel Trust Completes Sale of InterContinental Buckhead Atlanta and Sofitel Washington DC Lafayette Square
Pebblebrook Hotel Trust Common Shares of Beneficial Interest (PEB)
Last pebblebrook hotel trust common shares of beneficial interest earnings: 2/20 04:06 pm
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Source: Business Wire
BETHESDA, Md.--(BUSINESS WIRE)--Pebblebrook Hotel Trust (NYSE: PEB) (the “Company”) today announced that it closed on the sale of the 422-room InterContinental Buckhead Atlanta in Atlanta, Georgia and the 237-room Sofitel Washington DC Lafayette Square in Washington, D.C. for $331.0 million to a third party on March 6, 2020.For InterContinental Buckhead Atlanta, the contracted sale price reflects a 13.7x EBITDA multiple and a 6.4% net operating income capitalization rate based on the hotel’s operating performance for 2018. Based on the hotel’s operating performance for 2019, the contracted sales price reflects a 13.0x EBITDA multiple and a 6.8% net operating income capitalization rate. Both the EBITDA multiple and net operating income capitalization rate based on operating performance for 2019 are adjusted for the estimated impact of one-time extraordinary events.For Sofitel Washington DC Lafayette Square, the contracted sale price reflects a 15.1x EBITDA multiple and a 5.7% net o
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PEB
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- 11/7/24 - Beat
PEB
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- 11/21/24 - Form 4
- 11/18/24 - Form 4
- 11/15/24 - Form 4
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