$PEB
Pebblebrook Hotel Trust

2019 Q2 Form 10-Q Financial Statement

#000147409819000076 Filed on July 25, 2019

View on sec.gov

Income Statement

Concept 2019 Q2 2018 Q2
Revenue $442.1M $206.5M
YoY Change 114.08% 0.38%
Cost Of Revenue $251.0M $120.0M
YoY Change 109.17% -0.91%
Gross Profit $191.1M $86.50M
YoY Change 120.92% 2.25%
Gross Profit Margin 43.23% 41.89%
Selling, General & Admin $39.80M $21.10M
YoY Change 88.63% 14.05%
% of Gross Profit 20.83% 24.39%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $53.30M $24.60M
YoY Change 116.67% -5.02%
% of Gross Profit 27.89% 28.44%
Operating Expenses $93.10M $45.60M
YoY Change 104.17% 2.47%
Operating Profit $95.81M $48.48M
YoY Change 97.62% 20.66%
Interest Expense $28.72M $10.82M
YoY Change 165.52% 11.45%
% of Operating Profit 29.98% 22.31%
Other Income/Expense, Net $7.000K $22.97M
YoY Change -99.97% -35987.5%
Pretax Income $67.10M $60.63M
YoY Change 10.66% 34.46%
Income Tax $6.579M $2.338M
% Of Pretax Income 9.81% 3.86%
Net Earnings $60.37M $58.10M
YoY Change 3.91% 33.53%
Net Earnings / Revenue 13.66% 28.14%
Basic Earnings Per Share $0.40 $0.78
Diluted Earnings Per Share $0.40 $0.78
COMMON SHARES
Basic Shares Outstanding 130.5M shares 68.91M shares
Diluted Shares Outstanding 130.6M shares 69.20M shares

Balance Sheet

Concept 2019 Q2 2018 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $42.00M $17.30M
YoY Change 142.77% 20.98%
Cash & Equivalents $41.99M $17.25M
Short-Term Investments
Other Short-Term Assets $49.90M $55.80M
YoY Change -10.57% 37.78%
Inventory
Prepaid Expenses
Receivables $75.40M $35.00M
Other Receivables $0.00 $0.00
Total Short-Term Assets $167.3M $108.1M
YoY Change 54.76% 20.65%
LONG-TERM ASSETS
Property, Plant & Equipment $6.421B $2.468B
YoY Change 160.18% -1.58%
Goodwill
YoY Change
Intangibles $0.00 $28.74M
YoY Change -100.0% -2.01%
Long-Term Investments $370.0M
YoY Change
Other Assets $142.4M $8.300M
YoY Change 1615.66% 23.88%
Total Long-Term Assets $6.563B $2.846B
YoY Change 130.62% 13.2%
TOTAL ASSETS
Total Short-Term Assets $167.3M $108.1M
Total Long-Term Assets $6.563B $2.846B
Total Assets $6.731B $2.954B
YoY Change 127.84% 13.46%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $276.9M $138.8M
YoY Change 99.5% -7.34%
Accrued Expenses $252.2M $2.300M
YoY Change 10865.22% 21.05%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $155.5M
YoY Change
Total Short-Term Liabilities $796.0M $199.0M
YoY Change 300.0% -1.97%
LONG-TERM LIABILITIES
Long-Term Debt $2.243B $1.223B
YoY Change 83.49% 37.94%
Other Long-Term Liabilities $1.200M
YoY Change
Total Long-Term Liabilities $2.245B $1.223B
YoY Change 83.58% 37.94%
TOTAL LIABILITIES
Total Short-Term Liabilities $796.0M $199.0M
Total Long-Term Liabilities $2.245B $1.223B
Total Liabilities $3.040B $1.421B
YoY Change 113.89% 30.5%
SHAREHOLDERS EQUITY
Retained Earnings -$169.6M
YoY Change -1.73%
Common Stock $1.305M $689.0K
YoY Change 89.4% 0.15%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $3.680B $1.527B
YoY Change
Total Liabilities & Shareholders Equity $6.731B $2.954B
YoY Change 127.84% 13.46%

Cashflow Statement

Concept 2019 Q2 2018 Q2
OPERATING ACTIVITIES
Net Income $60.37M $58.10M
YoY Change 3.91% 33.53%
Depreciation, Depletion And Amortization $53.30M $24.60M
YoY Change 116.67% -5.02%
Cash From Operating Activities $137.8M $61.20M
YoY Change 125.16% 8.7%
INVESTING ACTIVITIES
Capital Expenditures -$32.90M -$19.10M
YoY Change 72.25% -25.39%
Acquisitions
YoY Change
Other Investing Activities $57.20M -$188.7M
YoY Change -130.31% -192.86%
Cash From Investing Activities $24.30M -$207.8M
YoY Change -111.69% -217.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -168.9M 148.9M
YoY Change -213.43% -159.09%
NET CHANGE
Cash From Operating Activities 137.8M 61.20M
Cash From Investing Activities 24.30M -207.8M
Cash From Financing Activities -168.9M 148.9M
Net Change In Cash -6.800M 2.300M
YoY Change -395.65% -112.71%
FREE CASH FLOW
Cash From Operating Activities $137.8M $61.20M
Capital Expenditures -$32.90M -$19.10M
Free Cash Flow $170.7M $80.30M
YoY Change 112.58% -1.95%

Facts In Submission

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90101000 USD
CY2019Q2 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
86000 USD
CY2018Q2 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
201000 USD
us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
80000 USD
us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
324000 USD
CY2019Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
39343000 USD
CY2018Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
60685000 USD
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
35965000 USD
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
89777000 USD
CY2019Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
3706799000 USD
CY2019Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
2118000 USD
CY2019Q2 us-gaap Dividends Common Stock
DividendsCommonStock
49933000 USD
CY2019Q2 us-gaap Dividends Preferred Stock
DividendsPreferredStock
8139000 USD
CY2019Q2 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax
-21089000 USD
CY2019Q2 us-gaap Profit Loss
ProfitLoss
60518000 USD
CY2019Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
3690274000 USD
CY2018Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1500330000 USD
CY2018Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
1868000 USD
CY2018Q2 us-gaap Dividends Common Stock
DividendsCommonStock
26410000 USD
CY2018Q2 us-gaap Dividends Preferred Stock
DividendsPreferredStock
4040000 USD
CY2018Q2 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax
2012000 USD
CY2018Q2 us-gaap Other Comprehensive Income Other Net Of Tax
OtherComprehensiveIncomeOtherNetOfTax
579000 USD
CY2018Q2 us-gaap Profit Loss
ProfitLoss
58295000 USD
CY2018Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1532634000 USD
CY2018Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
3769930000 USD
us-gaap Adjustments To Additional Paid In Capital Stock Issued Issuance Costs
AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts
275000 USD
peb Share Value Issued For Board Of Trustees Compensation
ShareValueIssuedForBoardOfTrusteesCompensation
740000 USD
us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
4009000 USD
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
3966000 USD
us-gaap Dividends Common Stock
DividendsCommonStock
99845000 USD
us-gaap Dividends Preferred Stock
DividendsPreferredStock
16278000 USD
us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax
-30128000 USD
us-gaap Profit Loss
ProfitLoss
66173000 USD
CY2019Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
3690274000 USD
CY2017Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1503526000 USD
peb Share Value Issued For Board Of Trustees Compensation
ShareValueIssuedForBoardOfTrusteesCompensation
662000 USD
us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
2507000 USD
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
1599000 USD
us-gaap Dividends Common Stock
DividendsCommonStock
52684000 USD
us-gaap Dividends Preferred Stock
DividendsPreferredStock
8063000 USD
us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax
7290000 USD
us-gaap Profit Loss
ProfitLoss
82811000 USD
CY2018Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1532634000 USD
us-gaap Profit Loss
ProfitLoss
66173000 USD
us-gaap Profit Loss
ProfitLoss
82811000 USD
us-gaap Depreciation And Amortization
DepreciationAndAmortization
107601000 USD
us-gaap Depreciation And Amortization
DepreciationAndAmortization
49464000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
3966000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
1599000 USD
us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
0 USD
us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
20477000 USD
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
3901000 USD
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
1043000 USD
us-gaap Amortization Of Leased Asset
AmortizationOfLeasedAsset
3051000 USD
us-gaap Amortization Of Leased Asset
AmortizationOfLeasedAsset
1350000 USD
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-4735000 USD
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-1146000 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
17150000 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
5731000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-9019000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
11355000 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
13461000 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
3140000 USD
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-637000 USD
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-501000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
194120000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
102489000 USD
us-gaap Payments For Capital Improvements
PaymentsForCapitalImprovements
75907000 USD
us-gaap Payments For Capital Improvements
PaymentsForCapitalImprovements
35301000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
302323000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
0 USD
us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
0 USD
us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
356180000 USD
us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
0 USD
us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
6658000 USD
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
398000 USD
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
26000 USD
us-gaap Proceeds From Insurance Settlement Investing Activities
ProceedsFromInsuranceSettlementInvestingActivities
0 USD
us-gaap Proceeds From Insurance Settlement Investing Activities
ProceedsFromInsuranceSettlementInvestingActivities
2648000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
226018000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-382201000 USD
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
275000 USD
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
0 USD
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
237000 USD
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
42000 USD
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
56893000 USD
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
465373000 USD
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
226893000 USD
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
127373000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
181219000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
1175000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
4009000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
2507000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
85273000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
53078000 USD
us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
16278000 USD
us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
8047000 USD
peb Proceedsfrommembershipdeposits
Proceedsfrommembershipdeposits
0 USD
peb Proceedsfrommembershipdeposits
Proceedsfrommembershipdeposits
30000 USD
peb Repaymentsofmembershipdeposits
Repaymentsofmembershipdeposits
396000 USD
peb Repaymentsofmembershipdeposits
Repaymentsofmembershipdeposits
486000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-457687000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
272695000 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-37549000 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-7017000 USD
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
107811000 USD
CY2017Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
32533000 USD
CY2019Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
70262000 USD
CY2018Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
25516000 USD
CY2019Q2 us-gaap Number Of Real Estate Properties
NumberOfRealEstateProperties
60 property
CY2019Q2 peb Number Of Guest Rooms
NumberOfGuestRooms
14463 hotel_room
us-gaap Use Of Estimates
UseOfEstimates
<div style="line-height:120%;padding-top:18px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Use of Estimates</span></div><div style="line-height:120%;padding-top:6px;text-align:left;text-indent:32px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The preparation of the financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities, and revenues and expenses. These estimates are prepared using management’s best judgment, after considering past, current and expected events and economic conditions. Actual results could differ from these estimates.</span></div>
CY2019Q2 peb Business Combination Acquisition Related Transaction Costs
BusinessCombinationAcquisitionRelatedTransactionCosts
100000 USD
CY2019Q2 us-gaap Business Combination Integration Related Costs
BusinessCombinationIntegrationRelatedCosts
900000 USD
peb Business Combination Acquisition Related Transaction Costs
BusinessCombinationAcquisitionRelatedTransactionCosts
300000 USD
us-gaap Business Combination Integration Related Costs
BusinessCombinationIntegrationRelatedCosts
3100000 USD
CY2019Q2 us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
442083000 USD
CY2018Q2 us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
459484000 USD
us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
809252000 USD
us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
823643000 USD
CY2019Q2 peb Business Acquisition Pro Forma Operating Income Loss
BusinessAcquisitionProFormaOperatingIncomeLoss
95809000 USD
CY2018Q2 peb Business Acquisition Pro Forma Operating Income Loss
BusinessAcquisitionProFormaOperatingIncomeLoss
110482000 USD
peb Business Acquisition Pro Forma Operating Income Loss
BusinessAcquisitionProFormaOperatingIncomeLoss
125746000 USD
peb Business Acquisition Pro Forma Operating Income Loss
BusinessAcquisitionProFormaOperatingIncomeLoss
152211000 USD
CY2019Q2 us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
52234000 USD
CY2018Q2 us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
64842000 USD
us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
49730000 USD
us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
74156000 USD
CY2019Q2 us-gaap Business Acquisition Pro Forma Earnings Per Share Basic
BusinessAcquisitionProFormaEarningsPerShareBasic
0.40
CY2018Q2 us-gaap Business Acquisition Pro Forma Earnings Per Share Basic
BusinessAcquisitionProFormaEarningsPerShareBasic
0.50
us-gaap Business Acquisition Pro Forma Earnings Per Share Basic
BusinessAcquisitionProFormaEarningsPerShareBasic
0.38
us-gaap Business Acquisition Pro Forma Earnings Per Share Basic
BusinessAcquisitionProFormaEarningsPerShareBasic
0.57
CY2019Q2 us-gaap Business Acquisition Pro Forma Earnings Per Share Diluted
BusinessAcquisitionProFormaEarningsPerShareDiluted
0.40
CY2018Q2 us-gaap Business Acquisition Pro Forma Earnings Per Share Diluted
BusinessAcquisitionProFormaEarningsPerShareDiluted
0.50
us-gaap Business Acquisition Pro Forma Earnings Per Share Diluted
BusinessAcquisitionProFormaEarningsPerShareDiluted
0.38
us-gaap Business Acquisition Pro Forma Earnings Per Share Diluted
BusinessAcquisitionProFormaEarningsPerShareDiluted
0.57
CY2019Q2 us-gaap Income Loss From Individually Significant Component Disposed Of Or Held For Sale Excluding Discontinued Operations Before Income Tax
IncomeLossFromIndividuallySignificantComponentDisposedOfOrHeldForSaleExcludingDiscontinuedOperationsBeforeIncomeTax
1100000 USD
us-gaap Income Loss From Individually Significant Component Disposed Of Or Held For Sale Excluding Discontinued Operations Before Income Tax
IncomeLossFromIndividuallySignificantComponentDisposedOfOrHeldForSaleExcludingDiscontinuedOperationsBeforeIncomeTax
1500000 USD
CY2018Q2 us-gaap Income Loss From Individually Significant Component Disposed Of Or Held For Sale Excluding Discontinued Operations Before Income Tax
IncomeLossFromIndividuallySignificantComponentDisposedOfOrHeldForSaleExcludingDiscontinuedOperationsBeforeIncomeTax
1300000 USD
us-gaap Income Loss From Individually Significant Component Disposed Of Or Held For Sale Excluding Discontinued Operations Before Income Tax
IncomeLossFromIndividuallySignificantComponentDisposedOfOrHeldForSaleExcludingDiscontinuedOperationsBeforeIncomeTax
2200000 USD
CY2019Q2 us-gaap Land
Land
991793000 USD
CY2018Q4 us-gaap Land
Land
1056862000 USD
CY2019Q2 us-gaap Investment Building And Building Improvements
InvestmentBuildingAndBuildingImprovements
5169832000 USD
CY2018Q4 us-gaap Investment Building And Building Improvements
InvestmentBuildingAndBuildingImprovements
5440513000 USD
CY2019Q2 peb Furniture Fixtures And Equipment
FurnitureFixturesAndEquipment
460887000 USD
CY2018Q4 peb Furniture Fixtures And Equipment
FurnitureFixturesAndEquipment
462620000 USD
CY2019Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
323910000 USD
CY2018Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
0 USD
CY2019Q2 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
91985000 USD
CY2018Q4 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
91985000 USD
CY2019Q2 us-gaap Development In Process
DevelopmentInProcess
25260000 USD
CY2018Q4 us-gaap Development In Process
DevelopmentInProcess
25643000 USD
CY2019Q2 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
7063667000 USD
CY2018Q4 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
7077623000 USD
CY2019Q2 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
642629000 USD
CY2018Q4 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
543430000 USD
CY2019Q2 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
6421038000 USD
CY2018Q4 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
6534193000 USD
CY2019Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
323900000 USD
CY2019Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
247200000 USD
CY2019Q2 us-gaap Long Term Debt
LongTermDebt
2398726000 USD
CY2018Q4 us-gaap Long Term Debt
LongTermDebt
2746898000 USD
CY2019Q2 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
2300000 USD
CY2018Q4 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
0 USD
CY2019Q2 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
2413000 USD
CY2018Q2 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
525000 USD
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
3901000 USD
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
1042000 USD
CY2019Q2 us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
2508000 USD
CY2018Q2 us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
360000 USD
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
5259000 USD
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
802000 USD
CY2019Q2 us-gaap Interest Expense
InterestExpense
28719000 USD
CY2018Q2 us-gaap Interest Expense
InterestExpense
10816000 USD
us-gaap Interest Expense
InterestExpense
58047000 USD
us-gaap Interest Expense
InterestExpense
20627000 USD
CY2019Q2 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
167400000 USD
CY2018Q4 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
164300000 USD
CY2019Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
442083000 USD
CY2018Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
206501000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
809252000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
387556000 USD
CY2019Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
500000000 shares
CY2019Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2019Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
100000000 shares
CY2019Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2019Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
20400000 shares
CY2018Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
20400000 shares
CY2019Q2 peb Long Term Incentive Partnership Units Outstanding
LongTermIncentivePartnershipUnitsOutstanding
236351 shares
CY2019Q2 peb Long Term Incentive Partnership Units Outstanding
LongTermIncentivePartnershipUnitsOutstanding
236351 shares
CY2019Q2 peb Long Term Incentive Partnership Units Vested
LongTermIncentivePartnershipUnitsVested
190975 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Period1
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1
P6Y
CY2019Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
1036935 shares
CY2019Q2 peb Long Term Incentive Partnership Units Outstanding
LongTermIncentivePartnershipUnitsOutstanding
236351 shares
CY2019Q2 peb Long Term Incentive Partnership Units Outstanding
LongTermIncentivePartnershipUnitsOutstanding
236351 shares
CY2019Q2 peb Long Term Incentive Partnership Units Vested
LongTermIncentivePartnershipUnitsVested
190975 shares
peb Effective Income Tax Rate Reconciliation At Federal And State Statutory Income Tax Rate Percent
EffectiveIncomeTaxRateReconciliationAtFederalAndStateStatutoryIncomeTaxRatePercent
0.300
CY2019Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
52234000 USD
CY2018Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
54079000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
49730000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
74465000 USD
CY2019Q2 us-gaap Dividends Share Based Compensation
DividendsShareBasedCompensation
74000 USD
CY2018Q2 us-gaap Dividends Share Based Compensation
DividendsShareBasedCompensation
83000 USD
us-gaap Dividends Share Based Compensation
DividendsShareBasedCompensation
147000 USD
us-gaap Dividends Share Based Compensation
DividendsShareBasedCompensation
166000 USD
CY2019Q2 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
3000 USD
CY2018Q2 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
88000 USD
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
0 USD
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
69000 USD
CY2019Q2 peb Net Income Loss Available To Common Stockholders Basic And Diluted
NetIncomeLossAvailableToCommonStockholdersBasicAndDiluted
52157000 USD
CY2018Q2 peb Net Income Loss Available To Common Stockholders Basic And Diluted
NetIncomeLossAvailableToCommonStockholdersBasicAndDiluted
53908000 USD
peb Net Income Loss Available To Common Stockholders Basic And Diluted
NetIncomeLossAvailableToCommonStockholdersBasicAndDiluted
49583000 USD
peb Net Income Loss Available To Common Stockholders Basic And Diluted
NetIncomeLossAvailableToCommonStockholdersBasicAndDiluted
74230000 USD
CY2019Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
130484956 shares
CY2018Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
68912185 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
130458164 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
68894413 shares
CY2019Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
110898 shares
CY2018Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
292386 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
204243 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
332685 shares
CY2019Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
130595854 shares
CY2018Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
69204571 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
130662407 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
69227098 shares
CY2019Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.40
CY2018Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.78
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.38
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.08
CY2019Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.40
CY2018Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.78
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.38
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.07
CY2019Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
163100 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
37137 shares
CY2018Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
83130 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
4212 shares
CY2019Q2 peb Combined Base And Incentive Management Fees
CombinedBaseAndIncentiveManagementFees
13300000 USD
peb Combined Base And Incentive Management Fees
CombinedBaseAndIncentiveManagementFees
22800000 USD
CY2018Q2 peb Combined Base And Incentive Management Fees
CombinedBaseAndIncentiveManagementFees
6100000 USD
peb Combined Base And Incentive Management Fees
CombinedBaseAndIncentiveManagementFees
11400000 USD
peb Reserve Funds As Percentage Of Hotel Revenues
ReserveFundsAsPercentageOfHotelRevenues
0.040
CY2019Q2 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
28300000 USD
CY2018Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
24400000 USD
CY2019Q2 us-gaap Lease Cost
LeaseCost
7800000 USD
us-gaap Lease Cost
LeaseCost
15400000 USD
CY2018Q2 us-gaap Lease Cost
LeaseCost
3400000 USD
us-gaap Lease Cost
LeaseCost
6500000 USD
CY2019Q2 peb Fixed Lease Cost
FixedLeaseCost
4200000 USD
peb Fixed Lease Cost
FixedLeaseCost
8500000 USD
CY2019Q2 us-gaap Variable Lease Cost
VariableLeaseCost
3600000 USD
us-gaap Variable Lease Cost
VariableLeaseCost
6900000 USD
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
8590000 USD
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
17345000 USD
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
17434000 USD
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
17505000 USD
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
17578000 USD
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
1159743000 USD
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
1238195000 USD
CY2019Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
991042000 USD
CY2019Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
247153000 USD
CY2018Q4 peb Operating And Capital Leases Future Minimum Payments Due Next Twelve Months
OperatingAndCapitalLeasesFutureMinimumPaymentsDueNextTwelveMonths
18882000 USD
CY2018Q4 peb Operating And Capital Leases Future Minimum Payments Due In Two Years
OperatingAndCapitalLeasesFutureMinimumPaymentsDueInTwoYears
19091000 USD
CY2018Q4 peb Operating And Capital Leases Future Minimum Payments Due In Three Years
OperatingAndCapitalLeasesFutureMinimumPaymentsDueInThreeYears
19223000 USD
CY2018Q4 peb Operating And Capital Leases Future Minimum Payments Due In Four Years
OperatingAndCapitalLeasesFutureMinimumPaymentsDueInFourYears
19325000 USD
CY2018Q4 peb Operating And Capital Leases Future Minimum Payments Due In Five Years
OperatingAndCapitalLeasesFutureMinimumPaymentsDueInFiveYears
19429000 USD
CY2018Q4 peb Operating And Capital Leases Future Minimum Payments Due Thereafter
OperatingAndCapitalLeasesFutureMinimumPaymentsDueThereafter
1219303000 USD
CY2018Q4 peb Operating And Capital Leases Future Minimum Payments Due
OperatingAndCapitalLeasesFutureMinimumPaymentsDue
1315253000 USD
us-gaap Interest Paid Net
InterestPaidNet
47741000 USD
us-gaap Interest Paid Net
InterestPaidNet
18729000 USD
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
1461000 USD
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
99000 USD
peb Accrued Additions And Improvements To Hotel Properties
AccruedAdditionsAndImprovementsToHotelProperties
4040000 USD
peb Accrued Additions And Improvements To Hotel Properties
AccruedAdditionsAndImprovementsToHotelProperties
1566000 USD
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
247139000 USD
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
0 USD
peb Noncash Or Part Noncash Acquisition Lease Liability Assumed
NoncashOrPartNoncashAcquisitionLeaseLiabilityAssumed
16444000 USD
peb Noncash Or Part Noncash Acquisition Lease Liability Assumed
NoncashOrPartNoncashAcquisitionLeaseLiabilityAssumed
0 USD
us-gaap Write Off Of Deferred Debt Issuance Cost
WriteOffOfDeferredDebtIssuanceCost
1281000 USD
us-gaap Write Off Of Deferred Debt Issuance Cost
WriteOffOfDeferredDebtIssuanceCost
0 USD

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