Pebblebrook Hotel Trust · NYSE:PEB
Pebblebrook Hotel Trust — Corporate Update (July 2020)
8 slides from Pebblebrook Hotel Trust's corporate update, Jul 2, 2020
Slide 1: Pebblebrook Update on Second Quarter 2020 Operating Trends
Pebblebrook Update on Second Quarter 2020 Operating Trends June 30, 2020
Slide 2: Forward-Looking Statements
PEBBLEBROOK UPDATE ON SECOND QUARTER 2020 OPERATING TRENDS 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
Slide 3: Hotel Demand Bottomed in Mid-April and Has Since Improved
PEBBLEBROOK UPDATE ON SECOND QUARTER 2020 OPERATING TRENDS Hotel Demand Bottomed in Mid-April and Has Since Improved Total Traveler Throughput (as % of 2019)(1) 25% Jun 21: 590,456 Travelers 20% 15% Apr 14: 87,534 Travelers 10% 5% 0% Trend Highlights • Hotel industry demand bottomed in mid-April • H
Slide 4: Updates of Hotels and Resorts That Have Reopened
PEBBLEBROOK UPDATE ON SECOND QUARTER 2020 OPERATING TRENDS Updates of Hotels and Resorts That Have Reopened • In early May, 8 properties were reopened, including 1 resort and 6 urban hotels • Between late May and late June, our remaining 7 resorts reopened (all 8 of our resorts were open by June 30)
Slide 5: Operating Trends for Pebblebrook's Open Property Portfolio
PEBBLEBROOK UPDATE ON SECOND QUARTER 2020 OPERATING TRENDS Operating Trends for Pebblebrook’s Open Property Portfolio • As our hotels and resorts reopen and ramp up, operating performance improves every week • For the most recent week ending June 28, our resorts ran XX.X% occupancy at a $XXX.XX aver
Slide 6: Updated Estimated Average Cash Burn
PEBBLEBROOK UPDATE ON SECOND QUARTER 2020 OPERATING TRENDS Updated Estimated Average Cash Burn • The monthly cash burn for our resorts is now forecasted to be eliminated in June, generating positive EBITDA (our previous estimate on May 7 assumed a monthly cash burn for our resorts of $2.5 million to
Slide 7: Credit Facility Waiver Process Overview
PEBBLEBROOK UPDATE ON SECOND QUARTER 2020 OPERATING TRENDS Credit Facility Waiver Process Overview • The waiver amendment with our bank group and private noteholders is currently being finalized • Waivers are being provided through Q1 2021 with substantially less restrictive covenants through 2022 •
Slide 8: Slide 8
Pebblebrook Hotel Trust — Corporate Update (July 2020) on 6ix