8-K

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 4, 2022

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 4, 2022, announcing that several of the Company’s resorts were impacted by Hurricane Ian and that the Company does not expect the costs to repair and remediate damage from the storm to be material.

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 4, 2022, update on the impact of Hurricane Ian
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 5, 2022	By:	/s/ Raymond D. Martz
		Name:	Raymond D. Martz
		Title:	Executive Vice President, Chief Financial Officer, Treasurer and Secretary

EX-99.1

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 Provides Update on Impact of Hurricane Ian

Bethesda, MD, October 4, 2022 – Pebblebrook Hotel Trust (NYSE: PEB) (the “Company”) today announced that several of the Company’s resorts were impacted by Hurricane Ian. However, the Company does not expect the costs to repair and remediate damage from the storm to be material.

The 189-room LaPlaya Beach Resort & Club (“LaPlaya”), a waterfront, luxury resort in Naples, Florida, closed beginning September 27, 2022, following a mandatory evacuation order. The resort will remain closed as the Company completes a full review and assessment of the damage to the condition of the property, which contains four buildings on six acres, including two buildings on the Gulf of Mexico. The Company, its operator, Noble House Hotels & Resorts, and its representatives are already working diligently to assess the property and its systems, while cleaning up and making repairs to curtail damages and to reopen the resort as soon as possible. At this time, the Company believes that the cost of repairing the property and recovering lost business income caused by the hurricane will not be material. The Company expects its property, flood, and business interruption insurance policies will mitigate the financial impact caused by the hurricane.

The 119-room Inn on Fifth, located in downtown Naples, Florida, also closed beginning September 27, 2022, following a mandatory evacuation order. The property reopened on October 1, 2022. At this time, the Company believes that property damage caused by the hurricane was minor and the costs to repair the property will not be material.

The Company’s remaining five other hotels and resorts in southern Florida and Georgia impacted by Hurricane Ian are open and operational. The Company believes that the cost to repair any property damage at these properties will not be material.

“We thank our management teams and associates at each of our properties impacted by Hurricane Ian who have done a terrific job protecting our guests and associates, with no injuries sustained, and mitigating further property damage,” noted Jon Bortz, Chairman, President and Chief Executive Officer of Pebblebrook Hotel Trust. “Our thoughts are with the countless people and communities that have been impacted by this devastating storm. While it is not yet possible to know the storm’s full impact on LaPlaya until power is restored to the local area and all necessary inspections are completed, we currently do not believe there is a material financial impact. We will update our investors over the coming weeks as we learn more about the anticipated reopening of LaPlaya and the expected losses from property damage and business interruption from the storm.”

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 and resorts in the United States. The Company owns 51 hotels and resorts, totaling approximately 12,800 guest rooms across 15 urban and resort markets. For more information, visit www.pebblebrookhotels.com and follow us at @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 use of forward-looking terminology such as “may,” “will,” “should,” “potential,” “intend,” “expect,” “seek,” “anticipate,” “estimate,” “approximately,” “believe,” “could,” “project,” “predict,” “forecast,” “continue,” “assume,” “plan,” references to “outlook” or other similar words or expressions. These forward-looking statements relate to the cost to repair damaged property, losses from business interruption and the expected effect of insurance claims. 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 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, 2021. 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 4, 2022. 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, Chief Financial Officer, Pebblebrook Hotel Trust - (240) 507-1330

For additional information or to receive press releases via email, please visit our website at

www.pebblebrookhotels.com

XML

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Entity Information [Line Items]
Document Type	8-K
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Document Period End Date	Oct. 04, 2022
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Entity Tax Identification Number	27-1055421
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Entity Address, City or Town	Bethesda
Entity Address, State or Province	MD
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Common Shares, $0.01 par value per share
Entity Information [Line Items]
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Entity Information [Line Items]
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