Pebblebrook Hotel Trust Completes $118 Million Sale of the 252-Room Dumont NYC

Pebblebrook Hotel Trust | June 21, 2017

BETHESDA, Md.--Pebblebrook Hotel Trust (NYSE: PEB) (the "Company") today announced that it has closed on the sale of the 252-room, upper upscale Dumont NYC in New York, New York for $118.0 million. The sale price of $118.0 million reflects a 25.2x EBITDA multiple and a 3.3% 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 May 31, 2017. "We are very excited to announce the sale of the Dumont NYC," noted Jon E. Bortz, Chairman, President and Chief Executive Officer of Pebblebrook Hotel Trust. "Wit...