Hotel Zoe Fisherman's Wharf
Pebblebrook Hotel Trust Completes Sale of Hotel Zoe Fisherman’s Wharf
Pebblebrook Hotel Trust | November 15, 2023
BETHESDA, Md.--Pebblebrook Hotel Trust (NYSE: PEB) (the “Company”) announced today that on November 14, 2023, it closed on the sale of the 221-room Hotel Zoe Fisherman’s Wharf in San Francisco, California for $68.5 million to a third party. For the trailing twelve months ended September 30, 2023, the hotel’s net loss was ($1.2) million, its net operating income was $2.2 million, and its earnings before interest, taxes, depreciation and amortization (“EBITDA”) was $2.7 million. The $68.5 million sales price reflects a 25.0x EBITDA multiple and a 3.2% net operating income capitalization rate (assuming a capital reserve of 4.0% of...
Pebblebrook Hotel Trust Executes Contract to Sell 221-Room Hotel Zoe Fisherman’s Wharf for $68.5M
Pebblebrook Hotel Trust | October 16, 2023
BETHESDA, Md. -- Pebblebrook Hotel Trust (NYSE: PEB) (the “Company”) announced today that it executed a contract to sell the 221-room Hotel Zoe Fisherman’s Wharf in San Francisco, California for $68.5 million to a third party. The property sale is subject to normal closing conditions. The Company offers no assurances that the sale will be completed on these terms or at all. The sale is targeted to be completed later in the fourth quarter of 2023. For the trailing twelve months ended September 30, 2023, the hotel’s net loss is estimated at ($1.2) million, its net operating income is estimated at $2.2 million, and its earnings before...
