Slide 1: April 2026 Investor Presentation
April 2026 Investor Presentation the valorian los angeles, curio collection by hilton
Slide 2: Pebblebrook Overview: The Premier Lifestyle Lodging REIT
INVESTOR PRESENTATION APRIL 2026 Pebblebrook Overview: The Premier Lifestyle Lodging REIT Pebblebrook Hotel Trust (NYSE: PEB) is a publicly traded real estate investment trust (“REIT”) and the largest owner of luxury and upper-upscale lifestyle hotels in the United States, spanning premier urban and
Slide 3: Portfolio Repositioned: Higher-Quality Leisure and Increase in Group Mix
INVESTOR PRESENTATION APRIL 2026 Portfolio Repositioned: Higher-Quality Leisure and Increase in Group Mix, with Reduced West Coast Urban Concentration Since 2019, Pebblebrook has repositioned its portfolio toward higher-quality leisure and group demand, increased resort and East Coast concentration,
Slide 4: Reasons to Invest in Pebblebrook
INVESTOR PRESENTATION APRIL 2026 Reasons to Invest in Pebblebrook Acquiring PEB shares at ~45% below estimated private-market NAV is a compelling value 1 opportunity. Pebblebrook intends to close the gap through Hotel EBITDA ramping to stabilization and accretive share buybacks funded by selective d
Slide 5: Public-Market NAV Implies Deep Discount
INVESTOR PRESENTATION APRIL 2026 Public-Market NAV Implies Deep Discount The Company regularly evaluates its property values and NAV using transaction data, current financing conditions, and underlying market fundamentals. Estimates are underwritten utilizing market comps, forward- looking cash flow
Slide 6: Why PEB Assets Command Premium Valuations
INVESTOR PRESENTATION APRIL 2026 Why PEB Assets Command Premium Valuations Pebblebrook’s portfolio drives premium valuations through high-quality, recently redeveloped assets, operationally flexible unencumbered hotels, and predominantly fee simple or preferred ground lease ownership. 1. High-Qualit
Slide 7: Successful Track Record with Redevelopment Projects
INVESTOR PRESENTATION APRIL 2026 Successful Track Record with Redevelopment Projects Pebblebrook has a strong track record of investing capital to elevate and remerchandise properties, enhance the guest experience, and revitalize underutilized venues and open spaces. Major redevelopments completed i
Slide 8: Urban Case Studies: Redevelopment & Value Creation
INVESTOR PRESENTATION APRIL 2026 Urban Case Studies: Redevelopment & Value Creation 1 Hotel San Francisco $28.0M Total Capital, $19.6M ROI-Focused In 2022, Pebblebrook completed its transformational redevelopment converting Hotel Vitale into the eco-luxury 1 Hotel San Francisco. The relaunch deliver
Slide 9: Resort Case Studies: Redevelopment & Value Creation
INVESTOR PRESENTATION APRIL 2026 Resort Case Studies: Redevelopment & Value Creation Estancia La Jolla Hotel & Spa $26.0M Total Capital, $18.2M ROI-Focused In 2023–2024, Estancia La Jolla Hotel & Spa completed a two-phase comprehensive redevelopment and upscaling. The repositioning featured upgraded
Slide 10: Encouraging Fundamentals for Urban Markets
INVESTOR PRESENTATION APRIL 2026 Encouraging Fundamentals for Urban Markets Across Pebblebrook’s key markets, tight construction financing should keep new supply limited for several years. Even as financing improves, urban projects typically take three to four years to deliver, extending supply prot
Slide 11: Recovery in Urban Markets: Significant Upside as Occupancy Rebuilds
INVESTOR PRESENTATION APRIL 2026 Recovery in Urban Markets: Significant Upside as Occupancy Rebuilds Amid Demand Recovery and Low New Supply In 2025, Pebblebrook’s urban occupancy remained 10 percentage points below 2019, creating meaningful upside as demand recovers amid constrained new supply. San
Slide 12: Anticipated Upside from Continued Urban Recovery
INVESTOR PRESENTATION APRIL 2026 Anticipated Upside from Continued Urban Recovery The urban recovery remains in progress, with fundamentals improving across key markets. Pebblebrook anticipates up to $70 million of incremental Urban Hotel EBITDA over the next three years as demand recovers, operatin
Slide 13: Multi-Year Growth Opportunity
INVESTOR PRESENTATION APRIL 2026 Multi-Year Growth Opportunity Over the next three years, the Company expects to deliver approximately $86M of incremental Hotel EBITDA, driven by the remaining ROI upside from recent major redevelopments, LaPlaya’s post-hurricane ramp to stabilization, and the ongoin
Slide 14: Recent Financing Highlights and Balance Sheet Updates
Recent Financing Highlights and Balance Sheet Updates 14 margaritaville hollywood beach resort
Slide 15: Recent Financing Highlights
INVESTOR PRESENTATION APRIL 2026 Recent Financing Highlights Q3 2025: 2030 1.625% Convertible Notes Financing On September 18, 2025, Pebblebrook issued $400 million of 1.625% Extended Maturity at Convertible Notes due 2030 and used proceeds to retire an equal Lower Interest Rate amount of its 1.75%
Slide 16: Balance Sheet
INVESTOR PRESENTATION APRIL 2026 Balance Sheet • In 2025, Pebblebrook paid down $100M of upcoming debt maturities and extended $400M of convertible notes by five years at a lower rate. • In 2026, Pebblebrook closed a $450M delayed draw 2031 term loan, deploying $360M to retire its 2027 debt maturity
Slide 17: Balance Sheet, Continued
INVESTOR PRESENTATION APRIL 2026 Balance Sheet, Continued A snapshot of Pebblebrook's credit metrics indicates a strong balance sheet and reasonable leverage level given its size and profile. As of March 31, 2026, net debt to trailing 12-month corporate EBITDA improved to 5.5x, driven by both EBITDA
Slide 18: Appendix
Appendix 18 hotel zelos san francisco
Slide 19: Sustainability and Operating Efficiency Improvements
INVESTOR PRESENTATION APRIL 2026 Sustainability and Operating Efficiency Improvements Across Pebblebrook’s portfolio, recent operational audits are reducing annual energy costs by $2–3M while also lowering resource intensity (water, energy, and waste) and strengthening resilience. Operating Efficien
Slide 20: Management, Brand/Franchise, & Ground Lease Flexibility
INVESTOR PRESENTATION APRIL 2026 Management, Brand/Franchise, & Ground Lease Flexibility Management & Brand/Franchise Type Ownership/Lease Structure Structural flexibility supports Property Completely Non-Terminable Non-Terminable Fee Simple Gov’t/Non-Profit Private-Party Unencumbered Management Bra
Slide 21: Historical Hotel EBITDA – Resorts & Notable Impacts Over the Years
INVESTOR PRESENTATION APRIL 2026 Historical Hotel EBITDA – Resorts & Notable Impacts Over the Years 2025 Portfolio / Hotel 2019 2020 2021 2022 2023 2024 2025 Naples, FL was negatively impacted by per Key Hurricane Ian (2022) and Hurricanes Unique Lifestyle Resorts Helene and Milton (2024). LaPlaya B
Slide 22: Historical Hotel EBITDA – Urban & Notable Impacts Over the Years
INVESTOR PRESENTATION APRIL 2026 Historical Hotel EBITDA – Urban & Notable Impacts Over the Years 2025 Portfolio / Hotel 2019 2020 2021 2022 2023 2024 2025 per Key Boston Urban Liberty $21.2 $0.3 $10.5 $21.1 $18.5 $20.0 $16.7 $56.0 Westin Copley 32.9 (4.4) 3.0 30.7 33.7 35.1 34.0 42.3 Revere 11.8 (6
Slide 23: Historical Hotel EBITDA – Urban/Total & Notable Impacts Over the Years
INVESTOR PRESENTATION APRIL 2026 Historical Hotel EBITDA – Urban/Total & Notable Impacts Over the Years 2025 Portfolio / Hotel 2019 2020 2021 2022 2023 2024 2025 per Key 1 Hotel San Francisco completed its San Francisco Urban transformational luxury rebranding, 1 Hotel SF $7.5 ($4.0) ($4.9) ($2.9) $
Slide 24: Forward-Looking Statements
INVESTOR PRESENTATION APRIL 2026 Forward-Looking Statements This presentation contains forward-looking statements that are subject to risks and uncertainties. These forward-looking statements include information about possible or assumed future results of Pebblebrook Hotel Trust's (the “Company” or
Slide 25: Jekyll Island Club Resort
ebblebrook HOTEL TRUST jekyll island club resort