Company: PEB
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001474098-25-000138
Chunk: 28

Company: Pebblebrook Hotel Trust
Filing Date: 2025-11-05
Form: 10-Q
Item: Item 1
Chunk 28
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 certain costs and expenses. ASU 2024-03 is effective for annual reporting periods beginning after December 15, 2026, and interim periods within annual reporting periods beginning after December 15, 2027, with early adoption permitted. The amendments should be applied either retrospectively to all prior periods presented in the financial statements, or prospectively after the adoption date. The Company is currently assessing the impacts of adopting ASU 2024-03 on its consolidated financial statements and disclosures.Induced Conversions of Convertible Debt InstrumentsIn November 2024, the FASB issued ASU 2024-04, Debt—Debt with Conversion and Other Options (Subtopic 470-20): Induced Conversions of Convertible Debt Instruments ("ASU 2024-04"). ASU 2024-04 clarifies the requirements for determining whether certain settlements of convertible debt instruments should be accounted for as induced conversions rather than as debt extinguishments. ASU 2024-04 is effective for annual reporting periods beginning after December 15, 2025, and interim periods within those annual reporting periods, with early adoption permitted. The amendments should be applied either prospectively or retrospectively. The Company is currently assessing the impacts of adopting ASU 2024-04 on its consolidated financial statements and disclosures.

Note 3. Acquisition and Disposition of Hotel Properties

AcquisitionsThe Company did not acquire any hotel properties during the nine months ended September 30, 2025 or 2024.

DispositionsThe Company did not dispose of any hotel properties during the nine months ended September 30, 2025 or 2024.

11

For the three and nine months ended September 30, 2025, the accompanying consolidated statements of operations and comprehensive income included operating income (loss) of $2.7 million and $0.5 million, respectively, excluding impairment loss and gain on sale of hotel properties related to the hotel properties sold or held for sale. For the three and nine months ended September 30, 2024, the accompanying consolidated statements of operations and comprehensive income included operating income (loss) of $3.1 million and zero, respectively, excluding impairment loss and gain on sale of hotel properties related to the hotel properties sold or held for sale. 

Held for SaleAs of September 30, 2025, the Company had entered into an agreement to sell one hotel property for a sales price of $72.0 million and the purchaser placed