Pebblebrook Hotel Trust Q3 EBITDA rises 15.1% on strong travel demand
Overview
US hotel REIT's Q3 same-property hotel EBITDA rose 15.1% yr/yr on strong travel demand
Adjusted FFO per share for Q3 increased 23.5% yr/yr
Company sold Hotel Zags Portland after quarter-end and repurchased shares during Q3
Outlook
Pebblebrook raises 2026 Adjusted EBITDAre outlook to $363.3-$367.3 mln
Company now sees 2026 Adjusted FFO per diluted share at $1.88-$1.92
Pebblebrook expects Q4 Adjusted FFO per diluted share of $0.26-$0.30
Result Drivers
PRICING POWER - Company said higher average daily rates and strong transient demand supported broad-based RevPAR growth across its portfolio
EXPENSE CONTROL - Company attributed margin expansion and higher profitability to disciplined expense management and operating efficiency initiatives
RESORT AND URBAN HOTEL PERFORMANCE - Company said both resort and urban hotels posted strong RevPAR gains, with notable growth in San Francisco, Chicago, Los Angeles, and Boston
Company press release:
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Room Revenues | $258.30 mln | ||
Q3 Net Loss | $54.60 mln | ||
Q3 Adjusted FFO | $71.60 mln | ||
Q3 Adjusted FFO Per Share | $0.63 | ||
Q3 Same Property EBITDA | $115.20 mln |
Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 4 "strong buy" or "buy", 8 "hold" and 3 "sell" or "strong sell"
The average consensus recommendation for the specialized reits peer group is "buy"
Wall Street's median 12-month price target for Pebblebrook Hotel Trust is $20.00, about 6.8% below its October 28 closing price of $21.47
Reuters Recommended Reads
Oct 27 - Hilton misses quarterly revenue estimates, warns of Mideast impact
Oct 27 - Hilton beats Q3 adjusted EPS estimates, net income rises
Oct 29 - Hyatt Hotels forecasts 2026 net income of $240 mln to $310 mln
For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)