Pebblebrook Hotel Trust Completes Sale of Hotel Palomar Washington, DC for $141.5 Million

Pebblebrook Hotel Trust | February 25, 2019

BETHESDA, Md. -- Pebblebrook Hotel Trust (NYSE: PEB) (the "Company") today announced that it has closed on the sale of the 335-room, Hotel Palomar Washington, DC for $141.5 million. The sale closed on February 22, 2019. The sale price of $141.5 million reflects a 14.9x EBITDA multiple and a 5.9% net operating income capitalization rate (after an assumed annual capital reserve of 4.0% of total hotel revenues) based on the hotel's operating performance for 2018. When combined with the recently announced sale of The Liaison Capitol Hill, the aggregate sales proceeds of $252.5 million for these two sales reflect a 15.7x EBITDA multiple and ...