Investor Presentation November 2023
INVESTOR PRESENTATION NOVEMBER 2023
Repositioned Resorts Far Exceeding Pre-Pandemic Levels
By mid-2024, the Company's resorts will have been upgraded and substantially repositioned higher, with
improved overall quality, expanded and enriched amenities, reconceptualized and expanded F&B outlets,
added and upgraded event venues and remerchandised underutilized areas. These changes create a more
upscale guest experience, increasing occupancy and average daily rates. As a result, Pebblebrook's Resort
EBITDA is expected to grow significantly in the next two to three years, well exceeding pre-pandemic levels.
Resort Upside
Occupancy
Variance
3Q 23
2019
Resorts (1)
TTM
FY
65%
74%
(9%)
(12%)
ADR
$383
$272
$112
41%
RevPAR
$247
$200
$47
24%
Total Revenue PAR(2)
$457
$389
$69
18%
Hotel EBITDA
$139
$113
$25
22%
Hotel EBITDA Margin
29%
28%
89 bps
3%
Average Rate Index(3)
103.0
96.2
6.8
RevPAR Index(3)
100.5
94.4
6.1
TripAdvisor Ranking
33
45
12
On a stabilized basis, the Company expects its resorts
to generate $40M - $50M (4) in Hotel EBITDA above 2019
due to their repositionings and enhanced guest
amenities and experiences.
Recently Repositioned and Re-imagined Resorts
Estancia La Jolla Hotel & Spa
Jekyll Island Club Resort
Skamania Lodge
L'Auberge Del Mar
Southernmost Beach Resort
Newport Harbor Island Resort(5)
Chaminade Resort & Spa
San Diego Mission Bay Resort
The Marker Key West Harbor Resort
pebblebrook
TRUST
Note: Dollars in millions, except for ADR, Rev PAR and Total Revenue POR.
(1) LaPlaya Beach Resort & Club is excluded from Q1-Q4 for both 2023 and 2019 given the property's closure due to Hurricane lan.
(2) Reflects Total Revenue per available room.
(3) Based on STR performance, excludes Inn on Fifth from 2023 and 2019.
(4) Resort achievement over 2019 reflects LaPlaya Beach Club & Resort's actual achievement for Q1-Q3 2022 and pre-hurricane Q4 2022 forecast.
(5) Renovation starting Q4 2023 to be completed Q2 2024.
chaminade resort & spa
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