Pebblebrook Hotel Trust Acquires Avalon Bed & Breakfast and Duval Gardens in Key West, FL for $20M

Pebblebrook Hotel Trust | October 21, 2021

BETHESDA, MD – October 21, 2021 – Pebblebrook Hotel Trust (NYSE: PEB) (the “Company”) today announced that it acquired the 19-room Avalon Bed & Breakfast (“Avalon”) and 12-room Duval Gardens (“Duval”), both in Key West, Florida, for $20.0 million. The two well-maintained properties will be consolidated and operated as part of the Company’s Southernmost Beach Resort (“Southernmost”) and managed by Highgate, which currently manages the Company’s two Key West resorts, Southernmost and The Marker Key West Harbor Resort. Avalon and Duval have highly desirable locations along the vibrant Duval Street, which showcases ...