The following is a summary of the Pebblebrook Hotel Trust (PEB) Q3 2024 Earnings Call Transcript:

Financial Performance:

• Q3 RevPAR growth was driven by increased occupancy across urban and resort properties despite impacts from hurricanes.

• Same-property hotel EBITDA was $110.8 million, reflecting the absorption of storm-related impacts broadly aligned with expectations.

• Adjusted EBITDA and adjusted FFO outperformed forecasts, partly due to unexpected business interruption proceeds related to previous storm damage.

Business Progress:

• Significant capital reinvestments in properties like the Delfina Santa Monica, now rebranded as Hyatt Centric, are expected to ramp up performance.

• Urban markets like Chicago, San Diego, and Boston showed strong recovery driven by active convention calendars and returning leisure demand.

• Continued focus on operational efficiency has successfully mitigated inflationary pressure on wages and benefits.

Opportunities:

• The expected normalization and recovery of business travel, combined with the return of international travel, offer significant revenue potential.

• The redevelopment of properties and repositioning in the market are anticipated to yield incremental returns in the coming years.

Risks:

• Multiple urban markets like San Francisco, Los Angeles, and Portland faced setbacks, with potential impacts from quality of life issues and industry-specific strikes.

• Recent hurricanes led to physical damages and operational disruptions, anticipated to affect future EBITDA and RevPAR in the short term.

Tips: This article is generated by AI. The accuracy of the content can not be fully guaranteed. For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.