Tag: press release

Pebblebrook Hotel Trust Provides Operating Update, Preliminary Q4 2022 and Full Year 2022 Results, and Transaction Update

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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Sortis Holdings Signs Definitive Agreement to Acquire Ace Hotel Group

Sortis Holdings, Inc.

Sortis Holdings, Inc.

Sortis Aims to Double its Hotel Footprint by 2025

PORTLAND, Ore., Jan. 17, 2023 (GLOBE NEWSWIRE) — Sortis Holdings, Inc. (OTC: SOHI) (the “Company” or “Sortis”) — an ecosystem of innovative, experiential hospitality brands — has entered into a definitive agreement to acquire Ace Group International, along with its management company, Atelier Ace. With the acquisition, Sortis Holdings, Inc. will be ushering in a new chapter for the iconic brand in an era of cultural collaboration, innovation, and conscious growth, for both the company and the Ace Hotel brand at large. 

The purchase consideration is comprised of $85 million in an all-cash transaction pursuant to the terms of the purchase agreement. The transaction is expected to close at the end of Q1 2023, subject to customary closing conditions.

From award-winning restaurants to cult coffee to the world’s first sustainable sushi bar and now adding the Ace Group, the Sortis platform is an evolving ecosystem of idiosyncratic brands united in their vision and innovation. Equal parts incubator, operator, and development platform, Sortis helps these brands amplify their unique voices through strategic guidance and value-adding resources, like optimized capital access, real estate growth strategies, co-location opportunities, as well as our in-house digital team for data and analytics, and e-commerce capabilities.

“The Sortis platform is rooted in innovation, purpose, and impact, and aims to foster consumer brands that are at the forefront of culture,” said Paul Brenneke, Executive Chairman of Sortis. “Our acquisition of the storied Ace Hotel brand, long known for embodying and celebrating the unique culture of each of its destinations worldwide provides us with an opportunity to advance this vision by scaling the legacy brand in a thoughtful way.”

Sortis Holdings’ hospitality partner Kelly Sawdon led the acquisition. Prior to joining Sortis in 2021, she was

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BLACKPINK announce PUBG Mobile virtual concert

BLACKPINK have announced they will perform a virtual concert within PUBG Mobile‘s in-game world later this month.

BLACKPINK: THE VIRTUAL will run over two weekends, between July 22 and 23 and then again between July 29 and 30 in North and South America. For all other countries, it will run take place between July 23 and 24, and then again from July 30 to 31.

It’s unclear at this stage what the K-pop group have in store for the virtual performance. In order to receive free in-game concert tickets, fans are encouraged to download the game before this Friday (July 15). A “concert resource pack” will be released the following day.

View the announcement via the PUBG Mobile Twitter account below:

BLACKPINK’s upcoming performance marks the first in-game concert for PUBG Mobile; however, the format has become increasingly popular in recent years. Ariana Grande and Travis Scott are among those who have virtually performed in the world of Fortnite, while Lil Nas X and Royal Blood have held concerts in the world of Roblox.

Earlier this month, BLACKPINK teased their return, indicating that new music and a world tour were both on the cards for this year. A press release from their label, YG Entertainment, announced that the group were currently in the “final stages of recording a new album”.

It added that new music would arrive next month, kicking off “a continuous large-scale project which will extend through the second half of the year”. The group – Jisoo, Jennie, Rosé and Lisa – released their

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