Pebblebrook Hotel Trust (NYSE: PEB) announced today that on October 8, it completed the sale of The Hotel Zags, a 174-room hotel in Portland, Oregon, for $10.0 million to a third party.
For the trailing 12 months ended August 31, 2026, the hotel’s estimated net operating loss was ($0.8) million, after an assumed annual capital reserve of 4.0% of total hotel revenues, and its estimated hotel earnings before interest, taxes, depreciation, and amortization (“EBITDA”) was ($0.6) million.
Pebblebrook expects to use the sale proceeds for general corporate purposes, including opportunistically repurchasing the Company’s common or preferred shares and supporting other capital allocation priorities intended to enhance long-term shareholder value.
This transaction is not expected to affect the Company’s current third quarter 2026 Outlook, which was issued on July 29. The Company will reflect the sale in its fourth quarter and updated full-year 2026 Outlook when it reports third-quarter results.
PEB shares obtained 15 cents to $19.13.
