$PEB
Pebblebrook Hotel Trust

2019 Q4 Form 10-Q Financial Statement

#000147409819000104 Filed on October 25, 2019

View on sec.gov

Income Statement

Concept 2019 Q4 2019 Q3 2018 Q3
Revenue $379.4M $423.6M $205.5M
YoY Change 61.01% 106.13% 1.83%
Cost Of Revenue $238.9M $247.5M $119.7M
YoY Change 51.2% 106.83% 2.39%
Gross Profit $140.5M $176.1M $85.82M
YoY Change 81.06% 105.2% 1.05%
Gross Profit Margin 37.03% 41.58% 41.76%
Selling, General & Admin $39.30M $39.90M $21.50M
YoY Change 102.58% 85.58% 36.08%
% of Gross Profit 27.97% 22.66% 25.05%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $57.50M $69.80M $24.70M
YoY Change 67.64% 182.59% -2.37%
% of Gross Profit 40.93% 39.64% 28.78%
Operating Expenses $96.70M $109.6M $46.20M
YoY Change 80.07% 137.23% 12.68%
Operating Profit $43.80M $60.82M $40.35M
YoY Change 83.26% 50.72% -0.88%
Interest Expense -$24.00M $26.47M $12.65M
YoY Change 16.5% 109.26% 41.01%
% of Operating Profit -54.79% 43.51% 31.34%
Other Income/Expense, Net $0.00 $7.000K $3.931M
YoY Change -100.0% -99.82% 2878.03%
Pretax Income $18.80M $34.36M $31.64M
YoY Change -118.58% 8.62% -1.64%
Income Tax -$800.0K $4.382M $1.719M
% Of Pretax Income -4.26% 12.75% 5.43%
Net Earnings $19.54M $29.89M $29.79M
YoY Change -119.76% 0.33% -2.14%
Net Earnings / Revenue 5.15% 7.06% 14.5%
Basic Earnings Per Share $0.08 $0.17 $0.37
Diluted Earnings Per Share $0.08 $0.17 $0.37
COMMON SHARES
Basic Shares Outstanding 130.6M shares 130.5M shares 68.91M shares
Diluted Shares Outstanding 130.6M shares 69.26M shares

Balance Sheet

Concept 2019 Q4 2019 Q3 2018 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $30.10M $29.80M $18.00M
YoY Change -63.91% 65.56% 26.76%
Cash & Equivalents $30.10M $29.76M $18.03M
Short-Term Investments
Other Short-Term Assets $59.50M $58.00M $173.5M
YoY Change -22.43% -66.57% 295.22%
Inventory
Prepaid Expenses
Receivables $49.60M $71.00M $36.30M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $139.2M $158.8M $227.8M
YoY Change -36.73% -30.29% 142.6%
LONG-TERM ASSETS
Property, Plant & Equipment $6.333B $6.330B $2.466B
YoY Change -5.96% 156.66% -1.09%
Goodwill
YoY Change
Intangibles $0.00 $0.00 $28.59M
YoY Change -100.0% -100.0% -2.03%
Long-Term Investments $373.9M
YoY Change
Other Assets $26.80M $55.90M $8.500M
YoY Change 9.84% 557.65% 30.77%
Total Long-Term Assets $6.359B $6.386B $2.849B
YoY Change -5.9% 124.17% 13.96%
TOTAL ASSETS
Total Short-Term Assets $139.2M $158.8M $227.8M
Total Long-Term Assets $6.359B $6.386B $2.849B
Total Assets $6.499B $6.545B $3.076B
YoY Change -6.88% 112.73% 18.61%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $260.2M $280.8M $147.6M
YoY Change -27.78% 90.24% -1.67%
Accrued Expenses $260.9M $261.9M $3.500M
YoY Change 9562.96% 7382.86% 6.06%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $80.70M $141.7M
YoY Change
Total Short-Term Liabilities $718.1M $799.8M $208.3M
YoY Change 55.6% 283.97% 1.51%
LONG-TERM LIABILITIES
Long-Term Debt $2.149B $2.088B $1.333B
YoY Change -21.78% 56.61% 52.74%
Other Long-Term Liabilities $300.0K
YoY Change
Total Long-Term Liabilities $2.149B $2.088B $1.333B
YoY Change -21.78% 56.63% 52.74%
TOTAL LIABILITIES
Total Short-Term Liabilities $718.1M $799.8M $208.3M
Total Long-Term Liabilities $2.149B $2.088B $1.333B
Total Liabilities $2.867B $2.888B $1.541B
YoY Change -10.65% 87.36% 42.99%
SHAREHOLDERS EQUITY
Retained Earnings -$170.3M
YoY Change -1.33%
Common Stock $1.305M $1.305M $689.0K
YoY Change 0.15% 89.4% 0.15%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $3.621B $3.646B $1.529B
YoY Change
Total Liabilities & Shareholders Equity $6.499B $6.545B $3.076B
YoY Change -6.88% 112.73% 18.61%

Cashflow Statement

Concept 2019 Q4 2019 Q3 2018 Q3
OPERATING ACTIVITIES
Net Income $19.54M $29.89M $29.79M
YoY Change -119.76% 0.33% -2.14%
Depreciation, Depletion And Amortization $57.50M $69.80M $24.70M
YoY Change 67.64% 182.59% -2.37%
Cash From Operating Activities $79.10M $122.0M $68.30M
YoY Change -325.36% 78.62% 18.58%
INVESTING ACTIVITIES
Capital Expenditures -$51.90M -$42.20M -$21.70M
YoY Change 58.23% 94.47% 33.95%
Acquisitions
YoY Change
Other Investing Activities $32.50M $135.6M -$109.5M
YoY Change -102.64% -223.84% -4860.87%
Cash From Investing Activities -$19.30M $93.30M -$131.2M
YoY Change -98.47% -171.11% 843.88%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -59.70M -228.7M 63.90M
YoY Change -104.32% -457.9% -245.23%
NET CHANGE
Cash From Operating Activities 79.10M 122.0M 68.30M
Cash From Investing Activities -19.30M 93.30M -131.2M
Cash From Financing Activities -59.70M -228.7M 63.90M
Net Change In Cash 100.0K -13.40M 1.000M
YoY Change -99.88% -1440.0% -433.33%
FREE CASH FLOW
Cash From Operating Activities $79.10M $122.0M $68.30M
Capital Expenditures -$51.90M -$42.20M -$21.70M
Free Cash Flow $131.0M $164.2M $90.00M
YoY Change -5795.65% 82.44% 21.95%

Facts In Submission

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-7874000 USD
CY2018Q3 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax
829000 USD
us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax
-38002000 USD
us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax
8119000 USD
CY2019Q3 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
22106000 USD
CY2018Q3 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
30746000 USD
us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
58151000 USD
us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
120847000 USD
CY2019Q3 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
66000 USD
CY2018Q3 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
128000 USD
us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
146000 USD
us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
452000 USD
CY2019Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
22040000 USD
CY2018Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
30618000 USD
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
58005000 USD
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
120395000 USD
CY2019Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
3690274000 USD
CY2019Q3 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
2134000 USD
CY2019Q3 us-gaap Dividends Common Stock
DividendsCommonStock
49909000 USD
CY2019Q3 us-gaap Dividends Preferred Stock
DividendsPreferredStock
8139000 USD
CY2019Q3 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax
-7874000 USD
CY2019Q3 us-gaap Profit Loss
ProfitLoss
29980000 USD
CY2019Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
3656466000 USD
CY2018Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1532634000 USD
CY2018Q3 us-gaap Adjustments To Additional Paid In Capital Stock Issued Issuance Costs
AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts
470000 USD
CY2018Q3 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
2638000 USD
CY2018Q3 us-gaap Dividends Common Stock
DividendsCommonStock
26542000 USD
CY2018Q3 us-gaap Dividends Preferred Stock
DividendsPreferredStock
4023000 USD
CY2018Q3 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax
829000 USD
CY2018Q3 us-gaap Profit Loss
ProfitLoss
29917000 USD
CY2018Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1534983000 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
6100000 USD
us-gaap Dividends Common Stock
DividendsCommonStock
149754000 USD
us-gaap Dividends Preferred Stock
DividendsPreferredStock
24417000 USD
us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax
-38002000 USD
us-gaap Profit Loss
ProfitLoss
96153000 USD
CY2019Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
3656466000 USD
CY2017Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1503526000 USD
us-gaap Adjustments To Additional Paid In Capital Stock Issued Issuance Costs
AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts
470000 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
4237000 USD
us-gaap Dividends Common Stock
DividendsCommonStock
79226000 USD
us-gaap Dividends Preferred Stock
DividendsPreferredStock
12086000 USD
us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax
8119000 USD
us-gaap Profit Loss
ProfitLoss
112728000 USD
CY2018Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1534983000 USD
us-gaap Profit Loss
ProfitLoss
96153000 USD
us-gaap Profit Loss
ProfitLoss
112728000 USD
us-gaap Depreciation And Amortization
DepreciationAndAmortization
177376000 USD
us-gaap Depreciation And Amortization
DepreciationAndAmortization
74229000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
6100000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
4237000 USD
us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
0 USD
us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
24369000 USD
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
13547000 USD
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
2889000 USD
us-gaap Amortization Of Leased Asset
AmortizationOfLeasedAsset
4921000 USD
us-gaap Amortization Of Leased Asset
AmortizationOfLeasedAsset
2027000 USD
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-2301000 USD
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-1807000 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
12504000 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
7019000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-1147000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
4582000 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
23791000 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
10254000 USD
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
3269000 USD
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-1387000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
316101000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
170814000 USD
us-gaap Payments For Capital Improvements
PaymentsForCapitalImprovements
117989000 USD
us-gaap Payments For Capital Improvements
PaymentsForCapitalImprovements
56935000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
437871000 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 Other Payments To Acquire Businesses
OtherPaymentsToAcquireBusinesses
0 USD
us-gaap Other Payments To Acquire Businesses
OtherPaymentsToAcquireBusinesses
112000000 USD
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
560000 USD
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
34000 USD
us-gaap Proceeds From Insurance Settlement Investing Activities
ProceedsFromInsuranceSettlementInvestingActivities
0 USD
us-gaap Proceeds From Insurance Settlement Investing Activities
ProceedsFromInsuranceSettlementInvestingActivities
5104000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
319322000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-513387000 USD
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
275000 USD
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
470000 USD
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
318000 USD
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
15724000 USD
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
211893000 USD
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
500181000 USD
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
281893000 USD
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
151181000 USD
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
0 USD
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
100000000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
451831000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
1764000 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
135054000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
79403000 USD
us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
24417000 USD
us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
12070000 USD
peb Proceedsfrommembershipdeposits
Proceedsfrommembershipdeposits
0 USD
peb Proceedsfrommembershipdeposits
Proceedsfrommembershipdeposits
30000 USD
peb Repaymentsofmembershipdeposits
Repaymentsofmembershipdeposits
524000 USD
peb Repaymentsofmembershipdeposits
Repaymentsofmembershipdeposits
541000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-686428000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
336551000 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-51005000 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-6022000 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
CY2019Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
56806000 USD
CY2018Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
26511000 USD
CY2019Q3 us-gaap Number Of Real Estate Properties
NumberOfRealEstateProperties
57 property
CY2019Q3 peb Number Of Guest Rooms
NumberOfGuestRooms
14112 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>
CY2019Q3 peb Business Combination Acquisition Related Transaction Costs
BusinessCombinationAcquisitionRelatedTransactionCosts
300000 USD
CY2019Q3 us-gaap Business Combination Integration Related Costs
BusinessCombinationIntegrationRelatedCosts
3700000 USD
peb Business Combination Acquisition Related Transaction Costs
BusinessCombinationAcquisitionRelatedTransactionCosts
600000 USD
us-gaap Business Combination Integration Related Costs
BusinessCombinationIntegrationRelatedCosts
6800000 USD
CY2019Q3 us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
423552000 USD
CY2018Q3 us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
452837000 USD
us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
1232804000 USD
us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
1276481000 USD
CY2019Q3 peb Business Acquisition Pro Forma Operating Income Loss
BusinessAcquisitionProFormaOperatingIncomeLoss
60820000 USD
CY2018Q3 peb Business Acquisition Pro Forma Operating Income Loss
BusinessAcquisitionProFormaOperatingIncomeLoss
87367000 USD
peb Business Acquisition Pro Forma Operating Income Loss
BusinessAcquisitionProFormaOperatingIncomeLoss
186566000 USD
peb Business Acquisition Pro Forma Operating Income Loss
BusinessAcquisitionProFormaOperatingIncomeLoss
220538000 USD
CY2019Q3 us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
21752000 USD
CY2018Q3 us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
43221000 USD
us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
71482000 USD
us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
98471000 USD
CY2019Q3 us-gaap Business Acquisition Pro Forma Earnings Per Share Basic
BusinessAcquisitionProFormaEarningsPerShareBasic
0.17
CY2018Q3 us-gaap Business Acquisition Pro Forma Earnings Per Share Basic
BusinessAcquisitionProFormaEarningsPerShareBasic
0.33
us-gaap Business Acquisition Pro Forma Earnings Per Share Basic
BusinessAcquisitionProFormaEarningsPerShareBasic
0.55
us-gaap Business Acquisition Pro Forma Earnings Per Share Basic
BusinessAcquisitionProFormaEarningsPerShareBasic
0.75
CY2019Q3 us-gaap Business Acquisition Pro Forma Earnings Per Share Diluted
BusinessAcquisitionProFormaEarningsPerShareDiluted
0.17
CY2018Q3 us-gaap Business Acquisition Pro Forma Earnings Per Share Diluted
BusinessAcquisitionProFormaEarningsPerShareDiluted
0.33
us-gaap Business Acquisition Pro Forma Earnings Per Share Diluted
BusinessAcquisitionProFormaEarningsPerShareDiluted
0.55
us-gaap Business Acquisition Pro Forma Earnings Per Share Diluted
BusinessAcquisitionProFormaEarningsPerShareDiluted
0.75
CY2019Q3 us-gaap Income Loss From Individually Significant Component Disposed Of Or Held For Sale Excluding Discontinued Operations Before Income Tax
IncomeLossFromIndividuallySignificantComponentDisposedOfOrHeldForSaleExcludingDiscontinuedOperationsBeforeIncomeTax
700000 USD
us-gaap Income Loss From Individually Significant Component Disposed Of Or Held For Sale Excluding Discontinued Operations Before Income Tax
IncomeLossFromIndividuallySignificantComponentDisposedOfOrHeldForSaleExcludingDiscontinuedOperationsBeforeIncomeTax
7500000 USD
CY2018Q3 us-gaap Income Loss From Individually Significant Component Disposed Of Or Held For Sale Excluding Discontinued Operations Before Income Tax
IncomeLossFromIndividuallySignificantComponentDisposedOfOrHeldForSaleExcludingDiscontinuedOperationsBeforeIncomeTax
1500000 USD
us-gaap Income Loss From Individually Significant Component Disposed Of Or Held For Sale Excluding Discontinued Operations Before Income Tax
IncomeLossFromIndividuallySignificantComponentDisposedOfOrHeldForSaleExcludingDiscontinuedOperationsBeforeIncomeTax
3800000 USD
CY2019Q3 us-gaap Land
Land
1046510000 USD
CY2018Q4 us-gaap Land
Land
1056862000 USD
CY2019Q3 us-gaap Investment Building And Building Improvements
InvestmentBuildingAndBuildingImprovements
5021865000 USD
CY2018Q4 us-gaap Investment Building And Building Improvements
InvestmentBuildingAndBuildingImprovements
5440513000 USD
CY2019Q3 peb Furniture Fixtures And Equipment
FurnitureFixturesAndEquipment
540848000 USD
CY2018Q4 peb Furniture Fixtures And Equipment
FurnitureFixturesAndEquipment
462620000 USD
CY2019Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
342576000 USD
CY2018Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
0 USD
CY2019Q3 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
65382000 USD
CY2018Q4 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
91985000 USD
CY2019Q3 us-gaap Development In Process
DevelopmentInProcess
20154000 USD
CY2018Q4 us-gaap Development In Process
DevelopmentInProcess
25643000 USD
CY2019Q3 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
7037335000 USD
CY2018Q4 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
7077623000 USD
CY2019Q3 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
707367000 USD
CY2018Q4 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
543430000 USD
CY2019Q3 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
6329968000 USD
CY2018Q4 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
6534193000 USD
CY2019Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
342600000 USD
CY2019Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
256200000 USD
CY2019Q3 us-gaap Long Term Debt
LongTermDebt
2229728000 USD
CY2018Q4 us-gaap Long Term Debt
LongTermDebt
2746898000 USD
CY2019Q3 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
2300000 USD
CY2018Q4 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
0 USD
CY2019Q3 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
2002000 USD
CY2018Q3 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
548000 USD
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
5903000 USD
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
1590000 USD
CY2019Q3 us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
2415000 USD
CY2018Q3 us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
326000 USD
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
7674000 USD
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
1128000 USD
CY2019Q3 us-gaap Interest Expense
InterestExpense
26465000 USD
CY2018Q3 us-gaap Interest Expense
InterestExpense
12647000 USD
us-gaap Interest Expense
InterestExpense
84512000 USD
us-gaap Interest Expense
InterestExpense
33274000 USD
CY2019Q3 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
169000000.0 USD
CY2018Q4 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
164300000 USD
CY2019Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
423552000 USD
CY2018Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
205480000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1232804000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
593036000 USD
CY2019Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
500000000 shares
CY2019Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2019Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
100000000 shares
CY2019Q3 us-gaap Dividends Share Based Compensation
DividendsShareBasedCompensation
74000 USD
CY2019Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2019Q3 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
20400000 shares
CY2018Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
20400000 shares
CY2019Q3 peb Long Term Incentive Partnership Units Outstanding
LongTermIncentivePartnershipUnitsOutstanding
236351 shares
CY2019Q3 peb Long Term Incentive Partnership Units Outstanding
LongTermIncentivePartnershipUnitsOutstanding
236351 shares
CY2019Q3 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
CY2019Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
1035985 shares
CY2019Q3 peb Long Term Incentive Partnership Units Outstanding
LongTermIncentivePartnershipUnitsOutstanding
236351 shares
CY2019Q3 peb Long Term Incentive Partnership Units Outstanding
LongTermIncentivePartnershipUnitsOutstanding
236351 shares
CY2019Q3 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
CY2019Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
21752000 USD
CY2018Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
25769000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
71482000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
100234000 USD
CY2018Q3 us-gaap Dividends Share Based Compensation
DividendsShareBasedCompensation
83000 USD
us-gaap Dividends Share Based Compensation
DividendsShareBasedCompensation
220000 USD
us-gaap Dividends Share Based Compensation
DividendsShareBasedCompensation
249000 USD
CY2019Q3 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
0 USD
CY2018Q3 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
0 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
67000 USD
CY2019Q3 peb Net Income Loss Available To Common Stockholders Basic And Diluted
NetIncomeLossAvailableToCommonStockholdersBasicAndDiluted
21678000 USD
CY2018Q3 peb Net Income Loss Available To Common Stockholders Basic And Diluted
NetIncomeLossAvailableToCommonStockholdersBasicAndDiluted
25686000 USD
peb Net Income Loss Available To Common Stockholders Basic And Diluted
NetIncomeLossAvailableToCommonStockholdersBasicAndDiluted
71262000 USD
peb Net Income Loss Available To Common Stockholders Basic And Diluted
NetIncomeLossAvailableToCommonStockholdersBasicAndDiluted
99918000 USD
CY2019Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
130484956 shares
CY2018Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
68912185 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
130467193 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
68900402 shares
CY2019Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
137174 shares
CY2018Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
343673 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
223149 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
366696 shares
CY2019Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
130622130 shares
CY2018Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
69255858 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
130690342 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
69267098 shares
CY2019Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.17
CY2018Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.37
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.55
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.45
CY2019Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.17
CY2018Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.37
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.55
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.44
CY2019Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
128563 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
37137 shares
CY2018Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
4212 shares
CY2019Q3 peb Combined Base And Incentive Management Fees
CombinedBaseAndIncentiveManagementFees
10500000 USD
peb Combined Base And Incentive Management Fees
CombinedBaseAndIncentiveManagementFees
33300000 USD
CY2018Q3 peb Combined Base And Incentive Management Fees
CombinedBaseAndIncentiveManagementFees
6000000.0 USD
peb Combined Base And Incentive Management Fees
CombinedBaseAndIncentiveManagementFees
17400000 USD
peb Reserve Funds As Percentage Of Hotel Revenues
ReserveFundsAsPercentageOfHotelRevenues
0.040
CY2019Q3 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
27000000.0 USD
CY2018Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
24400000 USD
CY2019Q3 us-gaap Lease Cost
LeaseCost
8900000 USD
us-gaap Lease Cost
LeaseCost
24300000 USD
CY2018Q3 us-gaap Lease Cost
LeaseCost
3600000 USD
us-gaap Lease Cost
LeaseCost
10100000 USD
CY2019Q3 peb Fixed Lease Cost
FixedLeaseCost
4300000 USD
peb Fixed Lease Cost
FixedLeaseCost
12800000 USD
CY2019Q3 us-gaap Variable Lease Cost
VariableLeaseCost
4600000 USD
us-gaap Variable Lease Cost
VariableLeaseCost
11500000 USD
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
4297000 USD
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
17924000 USD
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
18608000 USD
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
18921000 USD
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
18107000 USD
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
1168805000 USD
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
1246662000 USD
CY2019Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
990495000 USD
CY2019Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
256167000 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
69680000 USD
us-gaap Interest Paid Net
InterestPaidNet
29389000 USD
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
2569000 USD
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
2288000 USD
peb Accrued Additions And Improvements To Hotel Properties
AccruedAdditionsAndImprovementsToHotelProperties
6754000 USD
peb Accrued Additions And Improvements To Hotel Properties
AccruedAdditionsAndImprovementsToHotelProperties
593000 USD
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
257167000 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
16604000 USD
peb Noncash Or Part Noncash Acquisition Lease Liability Assumed
NoncashOrPartNoncashAcquisitionLeaseLiabilityAssumed
0 USD
us-gaap Write Off Of Deferred Debt Issuance Cost
WriteOffOfDeferredDebtIssuanceCost
2697000 USD
us-gaap Write Off Of Deferred Debt Issuance Cost
WriteOffOfDeferredDebtIssuanceCost
0 USD

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