Investor Presentation November 2023

INVESTOR PRESENTATION NOVEMBER 2023 Powerful Mix of Unique Lifestyle Hotels and Resorts Unique Experiences Lifestyle hotels offer guests a more unique and authentic experience than traditional branded properties. This is a growing demand segment among travelers, who are looking for something different than the cookie- cutter experience offered by many branded hotels. Enhanced Operating Flexibility Lifestyle hotels have more operating flexibility than branded hotels, which typically have significant restrictive rules, brand standards and needless and expensive requirements. More Profitable Lifestyle properties benefit from avoiding the heavy franchise/brand expense load, which enables a higher EBITDA per key. Control Over Capital Investments We choose how to invest capital to maximize the profitability and performance of the asset, versus brand/franchise requirements which are focused on standardization instead of performance maximization. Higher Resale Value Lifestyle properties typically sell at a 15- 20% premium due to their lack of inflexible brand contracts, thereby attracting a larger pool of buyers. 90% of our lifestyle properties are unencumbered by a major brand/franchise. 42% 41% 17% Urban Lifestyle (28 hotels / 6,148 rooms) Unique and immersive lifestyle hotels that appeal to both corporate and leisure travelers Unique Lifestyle Resorts (13 resorts / 3,092 rooms) Unique lifestyle resort experiences in many of the top drive-to resort markets in the US Urban Major Brand (6 hotels / 2,902 rooms) More traditional branded hotel experiences in Boston, San Diego and Chicago, with major brands including Westin, Hilton and Hyatt pebblebrook TRUST Note: Based on November 2023 NAV estimates; includes all hotels owned by the Company as of September 30, 2023. 4

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