Investor Presentation November 2023
INVESTOR PRESENTATION NOVEMBER 2023
Successful Track Record with Redevelopment Projects
The Company has a proven track record of investing capital to elevate and remerchandise its properties, enrich
the guest experience and revitalize underutilized venues and open spaces. These redevelopment projects
typically generate 10%+ cash-on-cash returns within three to four years following completion.
Year
2018-2019
San Diego Mission Bay Resort
2020
Donovan Hotel Zena
Total
Invested (1)
Per Room
ROI
Project
Portion(1)
Per
Room(2)
Westin Copley Boston
2018-2019
$278
$23
$85
$28
Embassy Suites San Diego
Paradise Point Resort & Spa
Westin Gaslamp Quarter San Diego
2020
$116
$10
$61
$31
LaPlaya Naples Resort & Club
Le Parc Suites at Melrose
Mondrian Los Angeles
2021-2022
$187
$15
$43
$59
Montrose West Hollywood
Chamberlain Los Angeles
Total 2018-22
$581M
$48K
$188M
$33K
W Boston
Viceroy Santa Monica Public Areas
Chaminade Resort & Spa
Mason & Rook Viceroy DC
Harbor Court Hotel
2023(F)
$150
$12
$70
$42
Marker Key West
Hotel Modera Hotel Zags
Hotel Zelos
Skamania Lodge Phase I
2024(F)
$80-$100(3)
$7-8
$38
$40
2021-2022
2023
Total 2023-24(F)
$230-250M
$19-21K
$107M
$45K
Total 2018-24(F)
$811-831M $67-$68K
$295M
$42K
L'Auberge Del Mar
Southernmost Key West
Skamania Lodge Phase II
Solamar → Margaritaville San Diego
The $295M of ROI-related projects
are expected to generate a +10%
cash on cash return
Hotel Vitale → 1 Hotel SF
Grafton on Sunset Hotel Ziggy
2024
Newport Harbor Island Resort
Estancia La Jolla Hotel & Spa Phase II
Paradise Point Resort Margaritaville Island (4)
Hilton Gaslamp San Diego
Jekyll Island Club Resort
Estancia La Jolla Hotel & Spa Phase I
Southernmost Key West Guesthouses
Viceroy Santa Monica Guest Rooms
pebblebrook
(1) Dollars in millions
(2) Dollars in thousands
(3) Preliminary 2024 estimated range
(4) Paradise Point subject to government approvals that are in process
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