Company: PEB
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001474098-25-000039
Chunk: 30

Company: Pebblebrook Hotel Trust
Filing Date: 2025-02-26
Form: 10-K
Item: Item 15
Chunk 30
---
U 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 years ended December 31, 2024 or 2023.

F-16

Table of Contents

DispositionsThe Company did not dispose of any hotel properties during the year ended December 31, 2024.The following table summarizes disposition transactions during the year ended December 31, 2023 (in thousands):Hotel Property NameLocationSale DateSale PriceThe Heathman HotelPortland, ORFebruary 22, 2023$45,000 Retail at The Westin Michigan Avenue ChicagoChicago, ILMarch 17, 202327,300 Hotel Colonnade Coral GablesCoral Gables, FLMarch 28, 202363,000 Hotel Monaco SeattleSeattle, WAMay 9, 202363,250 Hotel Vintage SeattleSeattle, WAMay 24, 202333,700 Hotel Zoe Fisherman’s WharfSan Francisco, CANovember 14, 202368,500 Marina City Retail at Hotel Chicago Downtown, Autograph CollectionChicago, ILDecember 21, 202330,000 2023 Total$330,750 For the years ended December 31, 2023 and 2022, the accompanying consolidated statements of operations and comprehensive income included operating loss of $0.8 million and $3.9 million, respectively, excluding impairment loss and gain on sale of hotel properties related to the hotel properties sold and held for sale. There was no impact for the year ended December 31, 2024.The sales of the hotel properties described above did not represent a strategic shift that had a major effect on the Company’s operations and financial results, and therefore, did not qualify as discontinued operations.

Note 4. Investment in Hotel Properties

Investment in hotel properties as of December 31, 2024 and 2023 consisted of the following (in thousands):December 31, 2024December 31, 2023Land$800,143 $810,633 Buildings and improvements5,062,727 5,005,894 Furniture, fixtures and equipment539,616 511,451 Finance lease asset91,181 91,181 Construction in progress5,066 27,123 $6,498,733 $6,446,282 Right-of