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PEB - Pebblebrook Hotel Trust News Story

$22.76 -0.1  -0.3%

Last Trade - 2:56pm

Sector
Financials
Size
Mid Cap
Market Cap £2.18bn
Enterprise Value £3.65bn
Revenue £290.1m
Position in Universe 1927th / 7245

BUZZ-Pebblebrook Hotel Trust buys Margaritaville Hollywood Beach Resort for $270 mln, shares up

Fri 24th September, 2021 4:27pm
** Shares of U.S. hotel owner  PEB.N  up 1.3% at $23.5 in
early trading
    ** Co acquires the 369-room oceanfront Margaritaville
Hollywood Beach Resort in Hollywood, Florida for $270 mln from
an affiliate of KSL Capital Partners, it said on Thursday
 urn:newsml:reuters.com:*:nBw4LjRKYa
    ** Following the acquisition, PEB will have liquidity of
about $800 mln, including an estimated $160 mln of consolidated
cash
    ** Co funded the acquisition with about $108.5 mln of cash
on hand, and assumed the $161.5 mln of existing non-recourse,
secured debt
    ** Including session's gains, stock up ~25% YTD

 (Reporting by Sahil Shaw in Bengaluru)
 ((sahil.shaw@thomsonreuters.com))
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