Pebblebrook Hotel Trust

pebblebrookhotels.com

What Do They Do?

Owns and invests in full-service hotels and resorts in major U.S. cities and leisure destinations, serving business and leisure travelers.

How Do They Make Money?

Hotel guests pay for rooms over their stays and for food, drinks, and other services as those are provided. Payments are primarily made when services are provided.

revenue

Segment	Share	How money arrives
Room Recurring	62% FY2022: 65%	Recurring
Food and beverage	26% FY2022: 25%
Other	11% FY2022: 9.7%

Who Are Their Customers?

The hotels serve business and leisure customers with lodging, food and beverage, and amenities; third-party management companies distribute the hotels' services.

Do Revenues Turn Into Profits?

No. It lost $65.8M in FY2025.

Operating income, FY2025

3% of revenue

▼ −48% vs FY2024 ($84M, 6%)

Net income, FY2025

−4% of revenue

▲ +1451% (Loss) vs FY2024 (−$4.2M, 0%)

How Are They Changing?

Since the FY2025 annual report

Latest quarter: Q2 FY2026, the three months to Jun 30, 2026

Revenue: ▼ 0%; vs $407.5M in Q2 FY2025
Net income: ▲ +31%; vs $18.1M in Q2 FY2025

Room share of revenue vs 63.2% in Q2 FY2025

Jul 29, 2026 Company raises its full-year outlook The company said quarterly results exceeded its outlook for the second time that year.

Growing. Revenue grew 2.0x in 4 years, from $733M in FY2021 to $1.5B in FY2025, about 19% a year.

Revenue over time

Room Food and beverage Other

$2B$1B$0

FY2021 FY2022 FY2023 FY2024 FY2025

Comments