Pebblebrook Hotel Trust Acquires Iconic Jekyll Island Club Resort and Executes Contract to Sell Villa Florence San Francisco on Union Square|2021-07-22|Press Releases

Pebblebrook Hotel Trust (NYSE: PEB) (the “Company&& CloseCurlyDoubleQuote;-RRB- today revealed that it obtained the Jekyll Island Club Resort for $940 million. The 200- space resort is noted in the National Register of Historic Places and lies in the heart of Jekyll Island, among the prominent Golden Isles off the coast ofGeorgia The Company maintained Noble House Hotels & &(*************************************************************************************************************************************************************************************************************** )(“(*************************************************************************************************************************************************************************************************************************************** )(*****************************************************************************************************************************************************************************************************************************************************************&) & CloseCurlyDoubleQuote;-RRB- to handle the resort.

Jekyll Island Club Resort consists of the Jekyll Island Club, situated on the East River, which functions 159 visitor spaces and suites motivated by late 19 th– century beauty and design throughout 4 landmarked structures, each with a customized style and design consisting of 3 distinct Victorian- design personal estates. The resort likewise includes the Jekyll Ocean Club, an oceanfront sanctuary opened in 2017, including 41 guestrooms, consisting of 40 roomy suites, with spectacular ocean views and access to the AtlanticOcean Jekyll Island Club Resort boasts over 14,000 square feet of distinct indoor conference area, 5 dining establishments and lounges, consisting of the well-known Grand Dining Room, the exceptionally popular Wharf Restaurant and the ocean front and outdoor Eighty Ocean Kitchen and Bar, 2 outside swimming pools, various outside terraces and significant occasion yards, access to beautiful beaches, and an essential 19 th– century design croquet yard.

“We&& CloseCurlyQuote; re really delighted to obtain this renowned resort on historical Jekyll Island,&& CloseCurlyDoubleQuote; stated Jon E. Bortz, Chairman, President and Chief Executive Officer of Pebblebrook HotelTrust “This local drive-to retreat is the island&& CloseCurlyQuote; s leading location, tactically situated in the center of the Jekyll Island National Landmark HistoricDistrict There are numerous chances at the turn to increase the residential or commercial property&& CloseCurlyQuote; s monetary efficiency through functional improvements and physical enhancements, consisting of raising the whole visitor experience, broadening the dining establishment and bar offerings, reimagining the retailing and quality of the retail area, and producing much more revenue-generating places. Our redevelopment competence integrated with our property management efforts must create incredible worth production at this storied resort.&& CloseCurlyDoubleQuote;

When at first developed in 1888, the Jekyll Island Club Resort was placed as an unique retreat and play area for the country&& CloseCurlyQuote; s most affluent households, consisting of the Vanderbilts, Morgans, Pulitzers, and Rockefellers, who constructed the resort&& CloseCurlyQuote; s(***************************************************************************************************************************************************************************** )estates. For more than 100 years, Jekyll Island Club Resort has actually been famed for its stylish style, unequaled environments, island stewardship, and ecological sustainability.

Jekyll Island becomes part of the Golden Isles, a group of 4 barrier islands off the coast of Georgia, that includesSt Simons Island, Sea Island, and LittleSt SimonsIsland Jekyll Island is a popular yet intimate trip location that includes miles of outside features, consisting of substantial cycling and treking routes, oceanfront nature gets away, horse-drawn carriage trips and a number of well-equipped public golf courses. The island prides itself on its concentrate on ecological sustainability. All advancement is managed by the Jekyll Island Authority, a self-supporting state entity accountable for the total management, conservation, and stewardship of JekyllIsland


Noble House has actually been picked by Pebblebrook to handle Jekyll Island ClubResort Following the acquisition of Jekyll Island Club Resort, Noble House now handles 6 of Pebblebrook&& CloseCurlyQuote; s homes

“We are delighted to partner with Noble House on another distinguished resort,&& CloseCurlyDoubleQuote; continuedMr Bortz. “NobleHouse has substantial experience changing and artistically running top quality, renowned resorts, including our LaPlaya Beach Resort & &(*********************************************************************************************************************************************************************************************************************************************************************************************************** )in Naples, Florida, our redeveloped San Diego Mission Bay Resort, and our just recently remodelled L&C loseCurlyQuote;-LRB- **************************************************************************************************************************************************************************************************************************************************************************************************************************) Del Mar in southernCalifornia We eagerly anticipate including Jekyll Island Club Resort to our growing resort collection with Noble House.&& CloseCurlyDoubleQuote;

“We are honored to have this unique chance to handle this renowned resort and to commemorate its storied history and natural appeal,&& CloseCurlyDoubleQuote; stated Sean Mullen, President, Acquisitions, Sales & &(************************************************************************************************************************************************************************************************************ )(************************************************************************************************************************************************************************************************************************************************* )for Noble House Hotels & &Resorts”(************************************************************************************************************************************************************************************** )distinct resort includes the island&& CloseCurlyQuote; s finest sundown and ocean views, roomy terraces and yards, canopies of ancient oak trees, and spectacular natural gardens. This positions Jekyll Island Resort as the best location for events and events of all sizes, hosting over 100 wedding events each year while likewise inviting households and other little groups that are drawn in to the history and natural appeal of Jekyll Island.&& CloseCurlyDoubleQuote;

For full-year(*************************************************************************************************************************** ),(******************************************************************************************************************************************************************************************************************************************************* )(************************************************************************************************************************************************************************************************************************************************************ )(*********************************************************************************************************************************************************************************************************************************************************************************************************** )(***************************************************************************************************************************************************************************************************************** )is anticipated to run at 68 percent tenancy, with a $268 typical everyday rate (” ADR&C loseCurlyDoubleQuote;-RRB-, $182 space income per readily available space (” RevPAR&& CloseCurlyDoubleQuote;-RRB-, and $360 of overall income per readily available space (” TRevPAR&& CloseCurlyDoubleQuote;-RRB-. The resort is anticipated to create hotel profits prior to interest, taxes, devaluation, and amortization (“Hotel EBITDA&C loseCurlyDoubleQuote;-RRB- of $7.6 million and hotel net operating earnings (” hotel NOI&C loseCurlyDoubleQuote;-RRB- after a 4% capital reserve of $6.6 million.

The acquisition of Jekyll Island Club Resort brings the overall variety of homes in the Company&& CloseCurlyQuote; s portfolio to 52, that includes 9 drive-to, independent way of life resorts.

Contract to Sell Villa Florence San Francisco on Union Square

The Company performed an agreement to offer Villa Florence San Francisco on Union Square for $875 million to an unaffiliated 3rd party. Pebblebrook anticipates the sale to be finished in the 3rd quarter of2021 The sale undergoes regular closing conditions, and the Company uses no guarantees that this sale will be finished on these terms or at all.

AboutPebblebrook Hotel Trust

Pebblebrook Hotel Trust (NYSE: PEB) is an openly traded realty financial investment trust (” REIT&C loseCurlyDoubleQuote;-RRB- and the biggest owner of city and resort way of life hotels in the UnitedStates The Company owns 52 hotels, amounting to around 12,800 visitor spaces throughout 14 city and resort markets with a concentrate on the west coast entrance cities. For more details, check out and follow us at @Pebblebrook PEB.

AboutNoble House Hotels & &Resorts


Built upon a viewpoint that highlights area, difference, and soul, Noble House Hotels & &(*************************************************************************************************************************************************************************************************************** )commits itself to producing and handling extraordinary homes that commemorate their regional neighborhoods. Headquartered in Seattle, Washington and continually growing, the Noble House portfolio includes a high-end and upper high end portfolio of 18 unique and aesthetically fascinating hotel homes, over 50 dining establishments, bars, and lounges, the Napa Valley Wine Train, and a collection of medspas, marinas, and personal houses throughout the U.S. andCanada A variety of beachfront resorts covering California and Florida, high-end retreats in Jackson Hole, WY, British Columbia, and Colorado, and acclaimed city hotels in Seattle and San Francisco stress the varied collection. Centered within locations deserving of every pail list and layered with distinct features that motivate experience, the curated collection of distinctive hotels, resorts and experiences, are understood for producing extraordinary travel experiences. For more details, check out or call Noble House Hotels & &(*************************************************************************************************************************************************************************************************************** )at877 NOBLE.TRIP.

This news release includes specific “positive declarations&& CloseCurlyDoubleQuote; made pursuant to the safe harbor arrangements of the Private Securities Reform Act of1995 Forward- looking declarations are usually recognizable by the usage of positive terms such as “may,&& CloseCurlyDoubleQuote;” will, & CloseCurlyDoubleQuote;” should, & CloseCurlyDoubleQuote;” possible, & CloseCurlyDoubleQuote;” plan, & CloseCurlyDoubleQuote;” anticipate, & CloseCurlyDoubleQuote;” look for, & CloseCurlyDoubleQuote;” expect, & CloseCurlyDoubleQuote;” quote, & CloseCurlyDoubleQuote;” around, & CloseCurlyDoubleQuote;” think, & CloseCurlyDoubleQuote;” could, & CloseCurlyDoubleQuote;” job, & CloseCurlyDoubleQuote;” forecast, & CloseCurlyDoubleQuote;” projection, & CloseCurlyDoubleQuote;” continue, & CloseCurlyDoubleQuote;” presume, & CloseCurlyDoubleQuote;” strategy, & CloseCurlyDoubleQuote; recommendations to “outlook&& CloseCurlyDoubleQuote; or other comparable words or expressions. Forward- looking declarations are based upon specific presumptions and can consist of future expectations, future strategies and methods, monetary and running forecasts and projections and other positive details and price quotes. Examples of positive declarations consist of the following: forecasts of hotel operating efficiency; the Company&& CloseCurlyQuote; s timing quote of the conclusion of a hotel sale; descriptions of the Company&& CloseCurlyQuote; s strategies or goals for future operations, acquisitions or services; and descriptions of presumptions underlying or connecting to any of the foregoing consisting of presumptions relating to the timing of their event. These positive declarations undergo different dangers and unpredictabilities, much of which are beyond the Company&& CloseCurlyQuote; s manage, which might trigger real outcomes to vary materially from such declarations. These dangers and unpredictabilities consist of, however are not restricted to, the state of the U.S. economy and the supply of hotel homes, and other aspects as are explained in higher information in the Company&& CloseCurlyQuote; s filings with the(************************************************************************************************************************************************************************************************ )andExchangeCommission, consisting of, without restriction, the Company&& CloseCurlyQuote; s(**************************************************************************************************************************************************************************************************************************************************************************************************************************** )(******************************************************************************************************************************************************************************************************************* )on Form 10- K for the year ended December 31,2020 Unless lawfully needed, the Company disclaims any responsibility to upgrade any positive declarations, whether as an outcome of brand-new details, future occasions or otherwise.

For more details about the Company&& CloseCurlyQuote; s company and monetary outcomes, please describe the “Management&& CloseCurlyQuote; s(********************************************************************************************************************************************************************************************************************************************************************************************* )and Analysis of Financial Condition and Results of Operations&& CloseCurlyDoubleQuote; and “RiskFactors&& CloseCurlyDoubleQuote; areas of theCompany & CloseCurlyQuote; s SEC filings, consisting of, however not restricted to, its Annual Report on Form 10- K and Quarterly Reports on Form 10- Q, copies of which might be acquired at the Investor Relations area of the Company&& CloseCurlyQuote; s site at

All details in this news release is sinceJuly22,2021TheCompany carries out no task to upgrade the declarations in this news release to adhere the declarations to real outcomes or modifications in the Company&& CloseCurlyQuote; s expectations.

For extra details or to get news release by means of e-mail, please visit our site at

PebblebrookHotel Trust
JekyllIsland Club Resort
Reconciliation of Hotel Net Income to Hotel EBITDA and Hotel Net Operating Income
Full-Year2021 Forecast
(Unaudited, in millions)



Hotel earnings


Depreciation and amortization( 1 )




Capital reserve



HotelNet Operating Income


( 1) Depreciation and amortization have actually been approximated based upon an initial purchase cost allowance. A modification, if any, in the allowance will impact the quantity of devaluation and amortization and the resulting modification might be product.
This news release consists of specific non-GAAP monetary steps as specified under Securities and Exchange Commission (SEC)Rules These steps are not in accordance with, or an option to, steps prepared in accordance with U.S. usually accepted accounting concepts, or GAAP, and might be various from non-GAAP steps utilized by other business. In addition, these non-GAAP steps are not based upon any detailed set of accounting guidelines or concepts. Non- GAAP steps have restrictions because they do not show all of the quantities related to the hotel&& CloseCurlyQuote; s outcomes of operations identified in accordance with GAAP.

TheCompany has actually provided forecasted hotel EBITDA and anticipated hotel net operating earnings after capital reserves, due to the fact that it thinks these steps offer financiers and experts with an understanding of the hotel-level operating efficiency. These non-GAAP steps do not represent quantities readily available for management&& CloseCurlyQuote; s discretionary usage, due to the fact that of required capital replacement or growth, financial obligation service commitments or other dedications and unpredictabilities, nor are they a sign of funds readily available to money the Company&& CloseCurlyQuote; s money requirements, including its capability to make circulations.

TheCompany&& CloseCurlyQuote; s discussion of the hotel&& CloseCurlyQuote; s anticipated EBITDA and anticipated net operating earnings after capital reserves must not be thought about as an option to earnings (calculated in accordance with GAAP) as an indication of the hotel&& CloseCurlyQuote; s monetary efficiency. The table above is a reconciliation of the hotel&& CloseCurlyQuote; s anticipated EBITDA and net operating earnings after capital reserves computations to hotel earnings in accordance with GAAP.

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