PEB

EX-99.1

2 a8kq3-2026erex991.htm

EX-99.1

Document

Exhibit 99.1

PEBBLEBROOK HOTEL TRUST REPORTS THIRD QUARTER 2026 RESULTS

Q3

FINANCIAL

RESULTS

▪Net loss: ($54.6) million.

▪Same-Property Hotel EBITDA: $115.2 million, a strong $10.7 million above the high end of the Company’s outlook and 15.1% higher than Q3 2025.

▪Adjusted EBITDAre: $107.9 million, $11.4 million above the high end of the outlook, and +8.7% year-over-year.

▪Adjusted FFO per diluted share: $0.63, $0.11 more than the high end of the outlook, and a robust +23.5% versus Q3 2025.

Q3 HOTEL

OPERATING RESULTS &

TRENDS

▪Rate-Led Revenue Growth: Same-Property RevPAR +8.3%, driven by ADR +7.0% and Occupancy +1.2%; Same-Property Total RevPAR +6.9%.

▪Momentum Beyond Summer Events: Healthy business and leisure demand continued through September, with RevPAR growth reaccelerating well after the World Cup and America 250 events early in the quarter.

▪Broad-Based Resort and Urban Growth: Resort RevPAR +8.4% and Urban RevPAR +8.3%; San Francisco +14.5%, Chicago +12.7%, Los Angeles +10.7%, Boston +10.6%, and Washington, DC +9.1%.

▪Strong Operating Leverage and Flow-Through: Same-Property Total Revenue +6.9% versus expense growth of just 4.0%, driving 58% EBITDA flow-through and 205 basis points of EBITDA margin expansion.

DISPOSITIONS, CAPITAL ALLOCATION, & BALANCE

SHEET

▪Dispositions: Sold The Hotel Zags Portland for $10.0 million after quarter-end, eliminating the hotel’s drag on Hotel EBITDA and bringing 2026 property sales to $53.5 million.

▪Share repurchases: Repurchased 1.2 million common shares for $20.9 million (average $18.12 per share) and 0.4 million preferred shares for $7.2 million at a 23% average discount to liquidation preference.

▪Capital investments: 2026 outlook reduced to $60 to $70 million, primarily reflecting project timing.

▪Balance sheet: Net debt/TTM corporate EBITDA declined to 5.1x; cash and restricted cash totaled $298 million at September 30, which does not reflect disposition proceeds received after quarter-end.

2026

OUTLOOK

▪Net loss: ($60.5) to ($56.5) million.

▪Same-Property RevPAR Growth Rate: +7.6% to +8.0%; midpoint +280 basis points from prior Outlook.

▪Same-Property Total RevPAR Growth Rate: +6.1% to +6.5%; midpoint +160 basis points.

▪Adjusted EBITDAre: $363.3 to $367.3 million; midpoint +$16.3 million.

▪Adjusted FFO per diluted share: $1.88 to $1.92; midpoint +$0.17 and +20.3% vs. 2025.

▪Free Cash Flow: $146.0 to $150.0 million; midpoint +$24.5 million.

Note: See tables later in this press release for a description of Same-Property information and reconciliations from net income (loss) to non-

GAAP financial measures used in the table above and elsewhere in this press release.

“ “Our third-quarter results far exceeded the high end of our outlook for the third consecutive quarter. Healthy business and leisure travel drove broad-based growth across our portfolio, with momentum continuing through September, well beyond the summer’s major events. Our premium portfolio continued to demonstrate significant pricing power, with Same-Property ADR increasing 7.0%, well above our expectations.

“Our resorts delivered outstanding results, demonstrating guests’ willingness to spend on distinctive lifestyle experiences. Resort RevPAR increased 8.4%, food and beverage revenues jumped 11.2%, and eight of our 13 resorts achieved Hotel EBITDA growth of 20% or more. Our urban hotels also performed very well, with RevPAR climbing 8.3%, driven by double-digit RevPAR gains in San Francisco, Chicago, Los Angeles, and Boston.

“We are raising our full-year outlook again to reflect both our significant third-quarter outperformance and our increasing confidence in fourth-quarter demand trends. Despite ongoing geopolitical and economic uncertainty, travel demand remains resilient. With new hotel supply extremely limited, stronger pricing power and disciplined cost control are driving higher RevPAR, total revenues, and margins.

“We see substantial upside ahead. Our redeveloped resorts are still ramping up, our urban markets are recovering, pricing power is growing, and 2027 brings stronger convention calendars in our two largest markets, San Diego and Boston, along with the Super Bowl in Los Angeles. Strong free cash flow and selective hotel sales at attractive private-market valuations provide significant capital to reduce debt and repurchase common and preferred shares at meaningful discounts. Combined, these strong factors should continue to grow cash flow and Adjusted FFO per diluted share.”

-Jon E. Bortz, Chairman and Chief Executive Officer of Pebblebrook Hotel Trust

Third Quarter and Year-to-Date Highlights

Third Quarter Nine months ended September 30,

Same-Property and

Corporate Highlights20262025Var20262025Var

($ in millions except per share and RevPAR data)

Net income/(loss) ($54.6)

($32.4) NM ($48.1)

($45.2) NM

Same-Property RevPAR(1,2)

$257

$237 8.3% $244

$225 8.7%

Same-Property Total RevPAR(1