Monitor 2026 RevPAR growth and margin expansion, particularly in San Francisco which showed strong recovery in 2025. The company's share repurchase program at significant discounts to NAV could provide upside if fundamentals improve as expected.
Price Chart
Executive Summary
Pebblebrook Hotel Trust reported 2025 results showing a net loss of $62.2 million, primarily due to $48.9 million in impairment charges from hotel dispositions. Despite the loss, the company exceeded its outlook with $348.2 million in Same-Property Hotel EBITDA and $1.58 Adjusted FFO per share. For 2026, the company forecasts improved performance with Adjusted FFO per share of $1.50-$1.62, driven by strong RevPAR growth expectations and a normalized capital investment run-rate. The company also strengthened its balance sheet through debt reduction and share repurchases.
Key Financial Metrics
Key Facts
- Net loss of $62.2 million in 2025, including $48.9 million in impairment charges from hotel dispositions
- Same-Property Hotel EBITDA was $348.2 million, exceeding the midpoint of guidance by $2.2 million
- Adjusted FFO per diluted share was $1.58, exceeding the midpoint of guidance by $0.05
- 2026 Outlook: Adjusted FFO per diluted share of $1.50 to $1.62
- Same-Property Total RevPAR Growth Rate forecast of 2.25% to 4.25% for 2026
- Company repurchased 6.3 million common shares in 2025 at an average price of $11.37 per share
- Net debt to trailing 12-month corporate EBITDA declined to 5.9x
Financial Impact
Adjusted FFO per share expected to decline from $1.58 in 2025 to a midpoint of $1.56 in 2026, with Same-Property Hotel EBITDA forecast to grow from $348.2 million to a midpoint of $365 million
Segment Breakdown
| Segment | Revenue | Growth |
|---|---|---|
| Same-Property | $1.4B | +0.8% |
Risk Factors
- 2025 net loss of $62.2 million despite exceeding guidance on key metrics
- Same-Property Hotel EBITDA declined 5.3% year-over-year to $348.2 million
- Adjusted FFO per share declined 6% year-over-year to $1.58
- Outlook for 2026 Adjusted FFO per share ($1.50-$1.62) is below 2025 actual of $1.58
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 7 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (PEB-PH) — Batch item 1 | 0001474098-26-000016 |
| Document: peb-20260225.htm | 0001474098-26-000016 |
| Document: 0001474098-26-000016-index-headers.html | 0001474098-26-000016 |
| Document: 0001474098-26-000016-index.html | 0001474098-26-000016 |
| Document: 0001474098-26-000016.txt | 0001474098-26-000016 |
| 8-K Filing (PEB-PH) — Batch item 6 | 0001474098-26-000016 |
| CONTEXT: Previous Earnings (2026-02-25) | 0001474098-26-000016 |
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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