Company: PEB
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001474098-25-000039
Chunk: 133

Company: Pebblebrook Hotel Trust
Filing Date: 2025-02-26
Form: 10-K
Item: Item 7
Chunk 133
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-Property Occupancy71.0 %68.3 %Same-Property ADR$299.22 $306.14 Same-Property RevPAR$212.41 $209.04 Same-Property Total RevPAR$327.27 $320.61 

The above table of hotel operating statistics includes information from all hotels owned as of December 31, 2024, except for LaPlaya Beach Resort & Club which was excluded for both years due to disruption from Hurricane Ian and Newport Harbor Island Resort which was excluded for the first, second and fourth quarters only due to its redevelopment.

Results of Operations

This section includes comparisons of certain 2024 financial information to the same information for 2023. Year-to-year comparisons of the 2023 financial information to the same information for 2022 are contained in Part II, Item 7 of our Annual Report on Form 10-K for the year ended December 31, 2023 filed with the SEC on February 21, 2024.

At December 31, 2024 and 2023, our consolidated financial statements included the operations of 46 hotel properties, which have been included in our results of operations during the respective periods since their dates of acquisition or through their dates of disposition. Based on when a property was acquired or disposed, operating results for certain properties are not comparable for the years ended December 31, 2024 and 2023. The properties listed in the table below are hereinafter referred to as "non-comparable properties" for the periods indicated and all other properties are referred to as "comparable properties":

PropertyLocationDisposition DateThe Heathman HotelPortland, ORFebruary 22, 2023Retail at The Westin Michigan Avenue ChicagoChicago, ILMarch 17, 2023Hotel Colonnade Coral GablesCoral Gables, FLMarch 28, 2023Hotel Monaco SeattleSeattle, WAMay 9, 2023Hotel Vintage SeattleSeattle, WAMay 24, 2023Hotel Zoe Fisherman’s WharfSan Francisco, CANovember 14, 2023Marina City Retail at Hotel Chicago Downtown, Autograph CollectionChicago, ILDecember 21, 2023

Comparison of the year ended December 31, 2024 to the year ended December 31, 2023

Revenues — Total revenues increased by $33.4 million primarily due to increases at LaPlaya Beach Resort & Club, which