Company: PEB
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001474098-25-000070
Chunk: 11

Company: Pebblebrook Hotel Trust
Filing Date: 2025-05-01
Form: 10-Q
Item: Item 1
Chunk 11
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7, 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 2024-03 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 three months ended March 31, 2025 or 2024.

DispositionsThe Company did not dispose of any hotel properties during the three months ended March 31, 2025 or 2024.

9

Note 4. Investment in Hotel Properties

Investment in hotel properties as of March 31, 2025 and December 31, 2024 consisted of the following (in thousands):March 31, 2025December 31, 2024Land$800,165 $800,143 Buildings and improvements5,078,826 5,062,727 Furniture, fixtures and equipment544,814 539,616 Finance lease asset91,181 91,181 Construction in progress6,004 5,066 $6,520,990 $6,498,733 Right-of-use asset, operating leases348,749 351,150 Investment in hotel properties$6,869,739 $6,849,883 Less: Accumulated depreciation(1,588,140)(1,530,854)Investment in hotel properties, net$5,281,599 $5,319,029 Hurricane Helene and Hurricane MiltonOn September 26,