Pebblebrook Hotel Trust reported its financial results for the second quarter of 2026, revealing total revenues of $407.1 million, a slight decrease from $407.5 million in the same period last year. For the first half of 2026, revenues increased to $752.8 million from $727.8 million in the prior year. The company achieved a net income of $24.9 million for the second quarter, compared to $19.3 million in the same quarter of 2025, and a net income of $6.5 million for the first half of 2026, a significant recovery from a loss of $12.9 million in the first half of 2025. The improved profitability was attributed to increased demand at resort properties and a recovery in urban markets.
In terms of operational metrics, the company reported a same-property occupancy rate of 79.4% for the second quarter, up from 78.1% a year earlier. The average daily rate (ADR) also increased to $326.60 from $311.80, contributing to a same-property revenue per available room (RevPAR) of $259.41, compared to $243.52 in the previous year. The company’s strategic focus on enhancing operational efficiencies and pricing power across its portfolio has led to these positive trends.
During the first half of 2026, Pebblebrook Hotel Trust made significant strategic moves, including the sale of the Chamberlain West Hollywood Hotel for $43.5 million and the repurchase of 944,452 common shares for $12.9 million. The company also repurchased 1,487,038 preferred shares for $28.6 million, reflecting its commitment to returning capital to shareholders. The company’s total assets decreased slightly to $5.28 billion as of June 30, 2026, from $5.35 billion at the end of 2025, primarily due to the sale of hotel properties.
Looking ahead, Pebblebrook Hotel Trust remains cautious about the macroeconomic environment but optimistic about continued demand growth in both leisure and business travel. The company plans to invest between $65 million and $75 million in capital improvements throughout 2026, focusing on maintaining and enhancing its hotel properties. The company’s liquidity position is strong, with $911.6 million available from cash, cash equivalents, and credit facilities, which is expected to support its operational and capital needs in the near term.
About Pebblebrook Hotel Trust
Pebblebrook Hotel Trust is a Maryland REIT that invests in upper-upscale and luxury hotel properties across major U.S. cities and resort markets. It owns interests in 46 hotels, leasing them to third-party managers via taxable REIT subsidiaries. The company focuses on strategic acquisitions, asset management, redevelopment, and capital improvements to maximize hotel performance and shareholder value in competitive, cyclical markets.
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