The strong beat and raised guidance reinforce the urban recovery thesis; watch for continued momentum in San Francisco and LA. Preferred dividends remain stable, but common dividend is nominal ($0.01/quarter) — any increase would signal further confidence. Monitor macro risks noted in commentary (geopolitical, fuel prices) that could slow H2 demand.
Price Chart
Executive Summary
Pebblebrook Hotel Trust reported Q1 2026 results significantly above its own outlook, with Same-Property Total Revenue +10.2% YoY to $343.8M and Adjusted FFO per share doubling to $0.32, driven by broad-based demand recovery and margin expansion. The company raised its full-year 2026 Adjusted EBITDAre guidance midpoint by $10M and Adjusted FFO per share midpoint by $0.09, reflecting strong operating momentum despite macro uncertainties.
Key Financial Metrics
Key Facts
- Q1 2026 Same-Property Total Revenue $343.8M, +10.2% YoY, above prior outlook
- Adjusted FFO per diluted share $0.32, doubled from $0.16 YoY and $0.09 above outlook high end
- Same-Property Hotel EBITDA $82.2M, +27.6% YoY, $8.2M above outlook high end
- Same-Property RevPAR +11.8% led by San Francisco (+44.5%) and Los Angeles (+31.5%)
- Full-year 2026 Adjusted EBITDAre guidance raised to $336-348M (midpoint +$10M)
- Full-year 2026 Adjusted FFO per share guidance raised to $1.60-$1.70 (midpoint +$0.09)
- Net debt to trailing corporate EBITDA improved to 5.5x from 5.9x at year-end 2025
Financial Impact
Q1 revenue beat consensus by ~5% ($345.7M actual vs $329.2M est), guidance raised meaningfully
Risk Factors
- Macroeconomic uncertainty and geopolitical events could slow travel demand in H2 2026
- Recent shortening of booking visibility since late March
- Washington, DC RevPAR -24.1% remains a drag
- No further BI insurance income expected (LaPlaya recovery complete)
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001474098-26-000040 |
| Document: peb-20260428.htm | 0001474098-26-000040 |
| Document: 0001474098-26-000040-index-headers.html | 0001474098-26-000040 |
| Document: 0001474098-26-000040-index.html | 0001474098-26-000040 |
| Document: 0001474098-26-000040.txt | 0001474098-26-000040 |
| 8-K Data (Synthetic) | 0001474098-26-000040 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Jun 15, 2026 15w ago | Insider Buy | $19.38 $18.08 | ▼ −6.71% | ▼ −7.71% | $19.07 (−1.60%) |
Jun 15, 2026 15w ago | 8-K | $18.50 $17.84 | ▼ −3.57% | ▼ −4.57% | $19.07 (+3.08%) |
Jun 12, 2026 16w ago | Insider Buy | $18.50 $17.84 | ▼ −3.57% | ▼ −4.57% | $19.07 (+3.08%) |
Jun 9, 2026 16w ago | 8-K | $18.40 $18.46 | ▲ +0.33% | ▼ −6.53% | $19.07 (+3.64%) |
Jun 2, 2026 17w ago | 8-K | $17.94 $18.37 | ▲ +2.40% | ▼ −0.10% | $19.07 (+6.30%) |
Apr 28, 2026 22w ago | 8-K | $17.92 $18.01 | ▲ +0.50% | ▼ −3.61% | $19.07 (+6.42%) |
Apr 17, 2026 24w ago | DEFA14A | $18.50 $18.08 | ▼ −2.27% | ▼ −8.41% | $19.07 (+3.08%) |
Feb 25, 2026 31w ago | 8-K | $13.17 $14.86 | ▲ +12.84% | ▲ +5.09% | $19.07 (+44.81%) |
US Market Status
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