Pebblebrook Hotel Trust Completes Sale of Hotel Madera

Pebblebrook Hotel Trust | September 27, 2019

BETHESDA, Md.--September 27, 2019 --Pebblebrook Hotel Trust (NYSE: PEB) (the “Company”) today announced that it closed on the sale of the 82-room Hotel Madera in Washington, D.C. for $23.3 million to a third party. The sale price of $23.3 million reflects a 14.3x EBITDA multiple and a 5.7% net operating income capitalization rate based on the hotel’s operating performance for 2018. Based on the trailing 12-month period ended June 30, 2019, the contracted sales price reflects a 14.1x EBITDA multiple and a 5.9% net operating income capitalization rate. Following the sale of Hotel Madera, the Company has completed a total of $1.3 bil...