Company: PEB
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001474098-25-000039
Chunk: 137

Company: Pebblebrook Hotel Trust
Filing Date: 2025-02-26
Form: 10-K
Item: Item 7
Chunk 137
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194)Impairment48,146 81,788 89,633 FFO$277,392 $217,441 $237,689 Distribution to preferred shareholders and unit holders(47,182)(48,306)(48,049)Redemption of preferred shares— 8,396 8,186 FFO available to common share and unit holders$230,210 $177,531 $197,826 Transaction costs44 688 430 Non-cash ground rent7,476 7,608 7,737 Management/franchise contract transition costs163 359 817 Interest expense adjustment for acquired liabilities1,110 1,672 2,549 Finance lease adjustment2,995 2,952 2,906 Non-cash amortization of acquired intangibles(1,927)(5,494)(2,149)Gain on insurance settlement(24,824)— — Early extinguishment of debt3,781 1,035 7,995 Amortization of share-based compensation expense13,602 12,545 11,349 Redemption of preferred shares— (8,396)(8,186)Hurricane-related costs183 6,598 249 Non-cash interest expense— — 49 Deferred tax provision (benefit)(28,483)— — Adjusted FFO available to common share and unit holders$204,330 $197,098 $221,572 

EBITDA is defined as earnings before interest, income taxes, depreciation and amortization. We calculate EBITDAre in accordance with standards established by Nareit. EBITDAre is defined as EBITDA as adjusted for gain on sale of hotel properties and impairment loss. Adjusted EBITDAre is defined as EBITDAre, as adjusted for transaction costs, non-cash ground rent on operating and capital leases, management/franchise contract transition costs, non-cash amortization of acquired intangibles, gain on insurance settlement, amortization of share-based compensation expense, and hurricane-related costs. Hotel EBITDA is defined as Adjusted EBITDAre plus corporate general and administrative expenses less interest income, business interruption insurance income, and other. We believe that EBITDA, EBITDAre, Adjusted EBITDAre and Hotel EBITDA provide investors useful financial measures to evaluate our operating performance, excluding the impact of our capital structure (prim