Pebblebrook Hotel Trust Completes Sale of the DoubleTree by Hilton Hotel Bethesda-Washington DC for $50.1M

Pebblebrook Hotel Trust | November 3, 2016

BETHESDA, Md.--November 3, 2016--Pebblebrook Hotel Trust (NYSE: PEB) (the "Company") today announced that it has closed on the sale of the 270-room, upscale, full-service DoubleTree by Hilton Hotel Bethesda-Washington DC (the "DoubleTree Bethesda") in Bethesda, Maryland for $50.1 million. The sale price of $50.1 million reflects an 11.6x EBITDA multiple and a 7.4% net operating income capitalization rate (after an assumed annual capital reserve of 4.0% of total hotel revenues) based on the trailing twelve-month operating performance for the period ended September 30, 2016. "We are pleased with the sale of the DoubleTree Bethesda," noted...