Pebblebrook Hotel Trust Provides Update on Reopening of LaPlaya Beach Resort & Club

11/20/17

BETHESDA, Md.--(BUSINESS WIRE)--Pebblebrook Hotel Trust (NYSE:PEB) today announced the partial reopening of the 189-room LaPlaya Beach Resort & Club following repair and restoration work to remediate the wind and water damage caused by Hurricane Irma.

On November 17, 2017, the resort’s Beach House (79 guestrooms) and Bay Tower (40 guestrooms) were reopened for guests following the completion of repair and remediation work. In addition, LaPlaya’s lobby, restaurant, bar and exterior pool areas also reopened. The full restoration of LaPlaya, including the renovation of the Gulf Tower (70 guestrooms), continues to be on target for completion early in the first quarter of 2018.

“We are extremely grateful for our team’s hard work in expeditiously completing the restoration work at LaPlaya,” said Jon Bortz, Chairman, President and Chief Executive Officer of Pebblebrook Hotel Trust. “The efforts made by the property team have been essential to our quick turnaround and will continue to be critical as we ramp up operations for the winter season in Naples.”

The Company has initiated its property, flood and business interruption policies and will continue to evaluate the financial impact of the resort’s closure. The Company expects to provide an update on the insurance claims in early 2018, but will not likely finalize all claims and proceeds until later next year.

About Pebblebrook Hotel Trust

Pebblebrook Hotel Trust is a publicly traded real estate investment trust (“REIT”) organized to opportunistically acquire and invest primarily in upper upscale, full-service hotels located in urban markets in major gateway cities. The Company owns 28 hotels, with a total of 6,972 guest rooms. The Company owns hotels located in 9 states and the District of Columbia, including: Los Angeles, California (Beverly Hills, Santa Monica and West Hollywood); San Diego, California; San Francisco, California; Washington, DC; Coral Gables, Florida; Naples, Florida; Buckhead, Georgia; Boston, Massachusetts; Minneapolis, Minnesota; Portland, Oregon; Philadelphia, Pennsylvania; Nashville, Tennessee; Columbia River Gorge, Washington; and Seattle, Washington. For more information, please visit us at www.pebblebrookhotels.com and follow us on Twitter at @PebblebrookPEB.

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