topaz hotel
Pebblebrook Hotel Trust Completes $33.1 Million Sale of Topaz Hotel
Pebblebrook Hotel Trust | November 25, 2019
BETHESDA, Md - Pebblebrook Hotel Trust (NYSE: PEB) (the “Company”) announced that it closed on the sale of the 99-room Topaz Hotel in Washington, D.C. for $33.1 million to a third party on November 22, 2019. The sale price of $33.1 million reflects a 19.5x EBITDA multiple and a 4.4% net operating income capitalization rate based on the hotel’s operating performance for 2018. Based on the trailing 12-month period ended September 30, 2019, the contracted sales price reflects a 17.9x EBITDA multiple and a 4.9% net operating income capitalization rate. Following the sale of Topaz Hotel, the Company has completed a total of $1.33 bill...
Pebblebrook Hotel Trust Executes Contract to Sell Topaz Hotel for $33 Million
Pebblebrook Hotel Trust | October 8, 2019
BETHESDA, Md.--October 8, 2019--Pebblebrook Hotel Trust (NYSE: PEB) (the “Company”) today announced that it executed a contract to sell the 99-room Topaz Hotel in Washington, D.C. for $33.0 million to a third party. The contracted sale price reflects a 19.5x EBITDA multiple and a 4.4% net operating income capitalization rate based on the hotel’s operating performance for 2018. Based on the trailing 12-month period ended June 2019, the contracted sales price reflects an 18.2x EBITDA multiple and a 4.8% net operating income capitalization rate. The net operating income capitalization rates are after an assumed annual capital reserve of...
