BETHESDA, Md., January 20, 2023–(BUSINESS WIRE)–Pebblebrook Hotel Trust (NYSE: PEB) (the “Company”) today provided an update on recent operating trends and information.

Please visit https://investor.pebblebrookhotels.com/investor-presentations-1 to view the updated presentation the Company issued on its website.

Additionally, based upon an initial review of preliminary operating and financial results, the Company has provided preliminary fourth quarter and full year 2022 results as follows:

Preliminary Q4 2022 Results(1)
(As of 1/20/2023)

Prior Q4 2022 Outlook
(As of 12/20/2022)

Variance(2)

Low

High

Low

High

Low

High

($ and shares/units in millions, except per share and RevPAR data)

Net loss

($41)

($39)

($40)

($36)

($1)

($3)

Adjusted EBITDAre(3)

$56

$58

$52

$56

$4

$2

Adjusted FFO(3)

$24

$26

$17

$21

$7

$5

Adjusted FFO per diluted share(3)

$0.19

$0.20

$0.13

$0.16

$0.06

$0.04

Same Property RevPAR(3)

$174

$174

$173

$175

$1

($1)

Same Property RevPAR variance vs. 2019(3)

(7.8%)

(7.8%)

(8.0%)

(7.0%)

0.2%

(0.8%)

Same Property RevPAR variance vs. 2021(3)

25.6%

25.6%

25.2%

26.6%

0.4%

(1.0%)

Same Property EBITDA(3)

$63.2

$65.2

$61.0

$65.0

$2.2

$0.2

Same Property EBITDA variance vs. 2019(3)

(29.1%)

(26.9%)

(31.6%)

(27.1%)

2.5%

0.2%

Preliminary Full Year 2022 Results(1)
(As of 1/20/2023)

Prior Full Year 2022 Outlook
(As of 12/20/2022)

Variance(2)

Low

High

Low

High

Low

High

($ and shares/units in millions, except per share and RevPAR data)

Net loss

($87)

($85)

($85)

($81)

($2)

($4)

Adjusted EBITDAre(3)

$355

$357

$351

$355

$4

$2

Adjusted FFO(3)

$220

$222

$212

$216

$8

$6

Adjusted FFO per diluted share(3)

$1.68

$1.69

$1.61

$1.64

$0.07

$0.05

Same Property RevPAR(3)

$193

$193

$193

$193

Same Property RevPAR variance vs. 2019(3)

(8.0%)

(8.0%)

(8.0%)

(7.75%)

(0.3%)

Same Property RevPAR variance vs.

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