Pebblebrook Hotel Trust Completes Sale of The Hotel Monaco Seattle

Pebblebrook Hotel Trust | May 10, 2023

BETHESDA, Md.-- Pebblebrook Hotel Trust (NYSE: PEB) (the “Company”) announced that on May 9, 2023, it closed on the sale of the 189-room Hotel Monaco Seattle in Seattle, WA for $63.3 million to a third party. For the trailing twelve months ended March 31, 2023, the hotel’s net operating income was $1.6 million, and its Hotel EBITDA was $2.1 million, with the $63.3 million sales price reflecting a 30.7x EBITDA multiple and a 2.5% net operating income capitalization rate. Based on the hotel’s operating performance for 2019, the $63.3 million sales price reflects an 11.4x EBITDA multiple and a 7.6% net operating income capitalization ...