Company: PEB
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001474098-25-000039
Chunk: 126

Company: Pebblebrook Hotel Trust
Filing Date: 2025-02-26
Form: 10-K
Item: Item 2
Chunk 126
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 improvements, renewals and replacements to the structural, mechanical, electrical, heating, ventilating, air conditioning, plumbing and vertical transportation elements of the hotels. In addition to the foregoing, the management agreements generally provide that the managers may propose such changes, alterations and improvements to the hotels as are required by reason of laws or regulations or, in the manager's reasonable judgment, to keep the hotels in a safe, competitive and efficient operating condition.

•Sale of a Hotel.  Certain of our management agreements limit our ability to sell, lease or otherwise transfer a hotel, unless the transferee assumes the related management agreement and meets other specified conditions.

Franchise and Sub-License Agreements 

We have franchise and sub-license agreements for certain of our hotels. Pursuant to these agreements, we pay franchise or sub-license fees based on a percentage of gross room revenues, as well as certain other fees for marketing and reservations services. Franchise or sub-license fees for room revenues are approximately 1% to 6% of gross room revenues. Some of these agreements provide us with termination rights. The agreements for the respective hotels expire as follows:

PropertyExpiration DateEmbassy Suites San Diego Bay - DowntownJanuary 2028Margaritaville Hollywood Beach ResortJuly 2028Hotel Chicago Downtown, Autograph CollectionFebruary 2034The Liberty, a Luxury Collection Hotel, BostonJanuary 2036Margaritaville Hotel San Diego Gaslamp QuarterAugust 2038Hilton San Diego Gaslamp QuarterJune 2041Hyatt Regency Boston HarborDecember 2042The Nines, a Luxury Collection Hotel, PortlandOctober 2043Hyatt Centric Delfina Santa MonicaSeptember 2049Paradise Point Resort & Spa15th anniversary after hotel is re-branded as a Margaritaville