Company: PEB
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001474098-25-000070
Chunk: 30

Company: Pebblebrook Hotel Trust
Filing Date: 2025-05-01
Form: 10-Q
Item: Item 1
Chunk 30
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 leaseApril 2029Paradise Point Resort & SpaOperating leaseMay 2050Harbor Court Hotel San FranciscoFinance leaseAugust 2052Hotel Monaco Washington DCOperating leaseNovember 2059Argonaut HotelOperating leaseDecember 2059Hotel Zephyr Fisherman's Wharf and RetailOperating leaseFebruary 2062Viceroy Santa Monica HotelOperating leaseSeptember 2065Estancia La Jolla Hotel & SpaOperating leaseJanuary 2066San Diego Mission Bay ResortOperating leaseJuly 20681 Hotel San FranciscoOperating leaseMarch 2070(1)Hyatt Regency Boston HarborOperating leaseApril 2077The Westin Copley Place, BostonOperating leaseDecember 2077(2)The Liberty, a Luxury Collection Hotel, BostonOperating leaseMay 2080Jekyll Island Club Resort and RestaurantOperating leaseJanuary 2089Hotel Zeppelin San FranciscoOperating and finance leaseJune 2089(4)Hotel Zelos San FranciscoOperating leaseJune 2097Hotel Palomar Los Angeles Beverly HillsOperating leaseJanuary 2107(3)Margaritaville Hollywood Beach ResortOperating leaseJuly 2112______________________(1)     The expiration date assumes the exercise of a 14-year extension option.(2)     No payments are required through maturity.(3)     The expiration date assumes the exercise of all 19 five-year extension options.(4)     The expiration date assumes the exercise of a 30-year extension option. The Company's leases may require minimum fixed rent payments, percentage rent payments based on a percentage of revenues in excess of certain thresholds or rent payments equal to the greater of a minimum fixed rent or percentage rent. Minimum fixed rent may be adjusted annually by increases in the consumer price index and may be subject to minimum and maximum increases. Some leases also contain certain restrictions on modifications that can be made to the hotel structures due to their status as national historic landmarks.The Company records expense on a straight-line basis for leases that provide for minimum rental payments that increase in pre-established amounts over the remaining terms of the leases. Ground rent expense is included in real estate taxes, personal property taxes, property insurance and ground rent in the Company's accompanying consolidated statements of operations and comprehensive income. The components of ground rent expense for the three months ended March 31, 2025 and 2024 are as follows (in thousands):For the three months ended March 31,20252024Fixed ground rent $4,810 $4,796 Variable