Wed, Jul 24, 8:12 PM (45 days ago)
For the quarter ending June 30, 2024, Pebblebrook Hotel Trust reported total revenues of $397.1 million, up from $384.3 million in Q2 2023, driven by increased operations at LaPlaya Beach Resort & Club and Margaritaville Hotel San Diego Gaslamp Quarter. Despite this, net income attributable to common shareholders decreased to $20.3 million from $33.7 million in Q2 2023, primarily due to higher interest expenses and general administrative costs. The company repurchased 318,269 common shares for $5.0 million and paid down $110.0 million of term loans, extending $356.7 million to January 2028. The company maintains strong liquidity with $747.5 million available, including its revolving credit facility. Future performance may be impacted by ongoing economic conditions and travel trends.