Pebblebrook Hotel Trust Completes Separate Sales of Viceroy Miami, The Redbury Hotel and an Excess Land Parcel Adjacent to Revere Hotel Boston Common

Pebblebrook Hotel Trust | June 2, 2016

BETHESDA, Md.--(June 1, 2016)--Pebblebrook Hotel Trust (NYSE: PEB) (the "Company") today announced that it has closed on the separate sales of Viceroy Miami in Miami, Florida for $64.5 million, The Redbury Hotel in Los Angeles, California for $40.9 million and an excess land parcel adjacent to Revere Hotel Boston Common in Boston, Massachusetts for $6.0 million. In May 2011, the Company acquired the 148-room, luxury, full-service Viceroy Miami for $36.5 million. The sale price of $64.5 million reflects a 17.7x EBITDA multiple and a 4.2% net operating income capitalization rate (after an assumed annual capital reserve of 4.0% of total ho...