Company: PEB
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001474098-25-000039
Chunk: 61

Company: Pebblebrook Hotel Trust
Filing Date: 2025-02-26
Form: 10-K
Item: Item 15
Chunk 61
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 space, fitness centers, swimming pools, spas, golf courses and other lifestyle amenities. The Company’s Chief Executive Officer, who serves as the Chief Operating Decision Maker (“CODM”), evaluates the performance, allocates capital resources and manages the overall operating and investing strategy of each hotel individually. The Company's hotels are not managed on a consolidated basis. Given these factors, the Company considers each hotel to be an operating segment. Because all of the Company's hotels offer similar full-service products, services and facilities, serve a similar mix of business and leisure customers, have similar economic characteristics and risks, and utilize similar methods to distribute their products and services via third-party management companies, all hotels have been aggregated into a single segment for reporting purposes.

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Table of Contents

All operating segments adhere to the same accounting policies as those described in Note. 2 Summary of Significant Accounting Policies. The CODM evaluates the performance of each operating segment using hotel earnings before interest taxes depreciation and amortization (“Hotel EBITDA”), comparing it to prior reporting periods, forecasts and industry/peer benchmarks on a monthly basis to make decisions and allocate resources. Additionally, the CODM considers other performance indicators such as Total Revenue, Revenue per Available Room (RevPAR), Average Daily Rate (ADR) and Occupancy to assess performance. The CODM does not rely on segment assets or aggregated data by brand, property type, or geographic region to make strategic, operational, investment or resource allocation decisions.The following table presents the Company's segment hotel revenues, Hotel EBITDA, including significant hotel expenses and its reconciliation to Net income (loss) for the years ended December 31, 2024, 2023 and 2022.(in thousands)For the year ended December 31,202420232022Revenues:Total revenues$1,453,309 $1,419,949 $1,391,891 Less: Corporate and other revenues7,084 10,484 8,607 Hotel revenues1,446,225 1,409,465 1,383,284 Significant hotel expenses:Room expenses250,875 248,020 225,992 Food and beverage expenses273,731 264,163 243,543 Hotel general and administrative119,308 120,122 116,183 Hotel sales and marketing94,490 94,187 86,483 Hotel operations and maintenance120,677 119,277 111,191 Hotel management fee42,326