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Union Station Hotel Nashville, Autograph Collection Sold for $56.0 Million
Pebblebrook Hotel Trust (NYSE: PEB) today announced that it closed on the sale of the 125-room Union Station Hotel Nashville, Autograph Collection in Nashville, TN for $56.0 million to a third party on July 29, 2020.
Proceeds from the sale of Union Station Hotel Nashville, Autograph Collection will be utilized for general business purposes which may include reducing the Company’s outstanding debt.
Pebblebrook Hotel Trust (NYSE: PEB) is a publicly traded real estate investment trust and the largest owner of urban and resort lifestyle hotels in the United States. The Company owns 53 hotels, totaling approximately 13,200 guest rooms across 14 urban and resort markets with a focus on the west coast gateway cities.
| Pebblebrook Hotel Trust | ||||||||||
| Historical Operating Data | ||||||||||
| ($ in millions, except ADR and RevPAR) | ||||||||||
| (Unaudited) | ||||||||||
| Historical Operating Data: | ||||||||||
| First Quarter |
| Second Quarter |
| Third Quarter |
| Fourth Quarter |
| Full Year | ||
| 2019 |
| 2019 |
| 2019 |
| 2019 |
| 2019 | ||
| Occupancy | 75% | 87% | 87% | 79% | 82% | |||||
| ADR | $251 | $268 | $263 | $247 | $258 | |||||
| RevPAR | $189 | $233 | $230 | $194 | $211 | |||||
| Hotel Revenues | $331.5 | $406.0 | $398.5 | $355.0 | $1,491.0 | |||||
| Hotel EBITDA | $90.0 | $147.1 | $137.0 | $102.0 | $476.0 | |||||
| Hotel EBITDA Margin | 27.2% | 36.2% | 34.4% | 28.7% | 31.9% | |||||
| First Quarter | ||||||||||
| 2020 | ||||||||||
| Occupancy | 56% | |||||||||
| ADR | $250 | |||||||||
| RevPAR | $139 | |||||||||
| Hotel Revenues | $252.8 | |||||||||
| Hotel EBITDA | $39.0 | |||||||||
| Hotel EBITDA Margin | 15.4% | |||||||||