Company: PEB
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001474098-25-000039
Chunk: 79

Company: Pebblebrook Hotel Trust
Filing Date: 2025-02-26
Form: 10-K
Item: Item 1A
Chunk 79
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 in states and localities in which we own property

•Risks related to liabilities under environmental laws

Risks Related to Our Organization and Structure 

•Risks related to change of control

•Risks related to ownership limitations in our declaration of trust

•Risks related to actions against our trustees and officers

•Risks related to changes in major policies

•Risks related to further issuances of securities

•Risks related to future offerings of debt securities or preferred shares

•Risks related to the rights of holders of common shares or preferred shares

•Risks related to employment agreements with our executive officers

•Risks related to internal controls

9

U.S. Federal Income Tax Risk Factors 

•Risks related to potential failures to qualify as a REIT, whether by us or by LaSalle prior to the merger

•Risks related to REIT requirements

•Risks related to distributions of REIT taxable income

•Risks related to our TRS and TRS lessees

•Risks related to our Operating Partnership

•Risks related to taxation on dividends

•Risks related to subsidiary REITs

•Risks related to revocation of our REIT qualification

•Risks related to share ownership restrictions

•Risks related to prohibited transactions tax

•Risks related to legislative or regulatory tax changes

Risks Related to Our Business and Properties 

We depend on the efforts and expertise of our executive officers and would be adversely affected by the loss of their services. 

We depend on the efforts and expertise of Jon E. Bortz, our Chairman and Chief Executive Officer, and our two other executive officers, to execute our business strategy. The loss of their services, and our inability to quickly identify and hire suitable replacements could adversely affect our business activities, including, without limitation, relationships with shareholders, lenders, management companies and other industry personnel. 

Our returns could be negatively impacted if the third-party management companies that operate our hotels do not manage our hotel properties effectively. 

Because U.S. federal income tax laws restrict REITs and their subsidiaries from operating or managing a hotel, we do not operate or manage any of our hotel properties. Instead, we lease all of our hotel properties to subsidiaries that qualify as TRSs, under applicable REIT laws, and our TRS lessees retain third-party managers to operate our hotels pursuant to management contracts. Our cash flow from the hotels may be adversely affected if our managers fail to provide quality services and amenities