Form 8-K
8-K — Pebblebrook Hotel Trust
Accession: 0001474098-26-000066
Filed: 2026-10-09
Period: 2026-10-08
CIK: 0001474098
SIC: 6798 (REAL ESTATE INVESTMENT TRUSTS)
Item: Regulation FD Disclosure
Item: Financial Statements and Exhibits
Documents
8-K — peb-20261008.htm (Primary)
EX-99.1 (peb100926hotelzagssaleex991.htm)
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8-K
8-K (Primary)
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of Earliest Event Reported): October 8, 2026
PEBBLEBROOK HOTEL TRUST
(Exact name of registrant as specified in its charter)
Maryland 001-34571 27-1055421
(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) File Number) Identification No.)
4747 Bethesda Avenue, Suite 1100, Bethesda, Maryland
20814
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (240) 507-1300
Not Applicable
Former name or former address, if changed since last report
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class Trading Symbol(s) Name of each exchange on which registered
Common Shares, $0.01 par value per share PEB New York Stock Exchange
Series E Cumulative Redeemable Preferred Shares, $0.01 par value PEB-PE New York Stock Exchange
Series F Cumulative Redeemable Preferred Shares, $0.01 par value PEB-PF New York Stock Exchange
Series G Cumulative Redeemable Preferred Shares, $0.01 par value PEB-PG New York Stock Exchange
Series H Cumulative Redeemable Preferred Shares, $0.01 par value PEB-PH New York Stock Exchange
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 7.01. Regulation FD Disclosure.
Pebblebrook Hotel Trust (the "Company") issued a press release on October 9, 2026, announcing that on October 8, 2026, it completed the sale of The Hotel Zags, a 174-room hotel in Portland, OR, for $10.0 million to a third party.
A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is hereby incorporated by reference herein.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
Exhibit No. Description
99.1
Press release, issued October 9, 2026, announcing the sale of The Hotel Zags, in Portland, OR.
104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
PEBBLEBROOK HOTEL TRUST
October 9, 2026 By: /s/ Raymond D. Martz
Name: Raymond D. Martz
Title: Co-President, Chief Financial Officer, Treasurer and Secretary
EX-99.1
EX-99.1
Filename: peb100926hotelzagssaleex991.htm · Sequence: 2
Document
Exhibit 99.1
4747 Bethesda Avenue, Suite 1100, Bethesda, MD 20814
T: (240) 507-1300, F: (240) 396-5626
www.pebblebrookhotels.com
News Release
PEBBLEBROOK HOTEL TRUST COMPLETES $10.0 MILLION SALE OF THE HOTEL ZAGS
BETHESDA, MD, OCTOBER 9, 2026 – Pebblebrook Hotel Trust (NYSE: PEB) (the “Company” or “Pebblebrook”) announced today that on October 8, 2026, it completed the sale of The Hotel Zags, a 174-room hotel in Portland, Oregon, for $10.0 million to a third party.
For the trailing twelve months ended August 31, 2026, the hotel’s estimated net operating loss was ($0.8) million, after an assumed annual capital reserve of 4.0% of total hotel revenues, and its estimated hotel earnings before interest, taxes, depreciation, and amortization (“EBITDA”) was ($0.6) million.
Pebblebrook expects to use the sale proceeds for general corporate purposes, including opportunistically repurchasing the Company’s common or preferred shares and supporting other capital allocation priorities intended to enhance long-term shareholder value.
This transaction is not expected to affect the Company’s current third quarter 2026 Outlook, which was issued on July 29, 2026. The Company will reflect the sale in its fourth quarter and updated full-year 2026 Outlook when it reports third quarter 2026 results.
About Pebblebrook Hotel Trust
Pebblebrook Hotel Trust (NYSE: PEB) is a publicly traded real estate investment trust (“REIT”) and the largest owner of urban and resort lifestyle hotels in the United States. The Company owns 42 hotels, totaling approximately 10,800 guest rooms across 14 urban and resort markets. For more information, visit www.pebblebrookhotels.com and follow @PebblebrookPEB.
This press release contains certain “forward-looking statements” made pursuant to the safe harbor provisions of the Private Securities Reform Act of 1995. Forward-looking statements are generally identifiable by the use of forward-looking terminology such as “estimated” and “will” or other similar words or expressions. Forward-looking statements are based on certain assumptions and can include future expectations, future plans and strategies, financial and operating projections and forecasts and other forward-looking information and estimates. Examples of forward-looking statements include the estimates of hotel net operating loss and hotel EBITDA, the intended use of proceeds and the Company’s expectation regarding the effect of the transaction on its 2026 Outlook. These forward-looking statements are subject to various risks and uncertainties, many of which are beyond the Company’s control, which could cause actual results to differ materially from such statements. These risks and uncertainties include, but are not limited to, the state of the U.S. economy, the operating performance of our hotels and the supply of hotel properties, and other factors as are described in greater detail in the Company’s filings with the Securities and Exchange Commission, including, without limitation, the Company’s Annual Report on Form 10-K for the year ended December 31, 2025. Unless legally required, the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.
For further information about the Company’s business and financial results, please refer to the “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and “Risk Factors” sections of the Company’s SEC filings, including, but not limited to, its Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, copies of which may be obtained at the Investor Relations section of the Company’s website at www.pebblebrookhotels.com.
All information in this press release is as of October 9, 2026. The Company undertakes no duty to update the statements in this press release to conform the statements to actual results or changes in the Company’s expectations.
###
Contacts:
Raymond D. Martz, Co-President and Chief Financial Officer, Pebblebrook Hotel Trust - (240) 507-1330
For additional information or to receive press releases via email, please visit www.pebblebrookhotels.com
Page 2
Pebblebrook Hotel Trust
The Hotel Zags
Reconciliation of Hotel Net Loss to Hotel EBITDA and Hotel Net Operating Loss
August 2026 Trailing Twelve Months
(Unaudited, in millions)
Twelve Months Ended
August 31,
2026
Hotel net loss ($1.9)
Adjustment:
Depreciation and amortization 1.3
Hotel EBITDA ($0.6)
Adjustment:
Capital reserve (0.2)
Hotel net operating loss ($0.8)
This press release includes certain non-GAAP financial measures as defined under Securities and Exchange Commission (SEC) rules. These measures are not in accordance with, or an alternative to, measures prepared in accordance with U.S. generally accepted accounting principles, or GAAP, and may be different from non-GAAP measures used by other companies. In addition, these non-GAAP measures are not based on any comprehensive set of accounting rules or principles. Non-GAAP measures have limitations in that they do not reflect all of the amounts associated with the hotel’s results of operations determined in accordance with GAAP.
The Company has presented estimated trailing twelve-month hotel EBITDA and estimated trailing twelve-month hotel net operating loss after capital reserves because it believes these measures provide investors and analysts with an understanding of the hotel-level operating performance. These non-GAAP measures do not represent amounts available for management’s discretionary use, because of needed capital replacement or expansion, debt service obligations or other commitments and uncertainties, nor are they indicative of funds available to fund the Company’s cash needs, including its ability to make distributions.
The Company’s presentation of the hotel’s estimated trailing twelve-month EBITDA and estimated trailing twelve-month net operating loss after capital reserves should not be considered as an alternative to net loss (computed in accordance with GAAP) as an indicator of the hotel’s financial performance. The table above is a reconciliation of the hotel’s estimated trailing twelve-month EBITDA and net operating loss after capital reserves calculations to net loss in accordance with GAAP. Any differences are a result of rounding.
Page 3
Pebblebrook Hotel Trust
Historical Operating Data
($ in millions except ADR and RevPAR data)
(Unaudited)
Historical Operating Data:
First Quarter Second Quarter Third Quarter Fourth Quarter Full Year
2025 2025 2025 2025 2025
Occupancy 63 % 78 % 80 % 69 % 73 %
ADR $309 $314 $300 $292 $304
RevPAR $196 $247 $240 $201 $221
Hotel Revenues $309.0 $383.6 $373.0 $332.3 $1,397.9
Hotel EBITDA $64.4 $115.1 $100.1 $69.1 $348.7
Hotel EBITDA Margin 20.8 % 30.0 % 26.8 % 20.8 % 24.9 %
First Quarter Second Quarter
2026 2026
Occupancy 69 % 80 %
ADR $318 $329
RevPAR $219 $263
Hotel Revenues $339.9 $401.9
Hotel EBITDA $81.7 $123.3
Hotel EBITDA Margin 24.0 % 30.7 %
Notes:
These historical hotel operating results include information for all of the hotels the Company owned as of October 8, 2026, following the sale of The Hotel Zags. The information above does not reflect the Company's corporate general and administrative expense, interest expense, property acquisition costs, depreciation and amortization, taxes, and other expenses.
These hotel results for the respective periods may include information reflecting operational performance prior to the Company's ownership of the hotels. Any differences are a result of rounding.
The information above has not been audited and is presented only for comparison purposes.
Page 4
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