Pebblebrook Hotel Trust Completes Sale of Hotel Vintage Seattle

Pebblebrook Hotel Trust | May 30, 2023

BETHESDA, Md.-- Pebblebrook Hotel Trust (NYSE: PEB) (the “Company”) announced that on May 24, 2023, it closed on the sale of the 125-room Hotel Vintage Seattle in Seattle, WA for $33.7 million to a third party. For the trailing twelve months ended March 31, 2023, the hotel’s net operating income was $0.8 million, and its Hotel EBITDA was $1.1 million, with the $33.7 million sales price reflecting a 31.0x EBITDA multiple and a 2.3% net operating income capitalization rate. Based on the hotel’s operating performance for 2019, the $33.7 million sales price reflects an 11.2x EBITDA multiple and a 7.3% net operating income capitalizatio...