BETHESDA, Md.--(BUSINESS WIRE)--
Pebblebrook Hotel Trust (NYSE: PEB) (the “Company”) today announced that
its Board of Trustees has declared a quarterly cash dividend of $0.12
per common share of beneficial interest, payable on April 15, 2011 to
shareholders of record as of March 31, 2011. The common dividend
represents a 2.3% annualized yield based on the closing price of the
common shares on March 15, 2011.
The Board of Trustees also declared a pro-rated quarterly cash dividend
of $0.1859375 per share on its 7.875% Series A Cumulative Redeemable
Preferred Shares of beneficial interest, payable on April 15, 2011 to
shareholders of record as of March 31, 2011.
About Pebblebrook Hotel Trust
Pebblebrook Hotel Trust is a publicly traded real estate investment
trust organized to opportunistically acquire and invest primarily in
upper-upscale, full-service hotels located in large urban and resort
markets with an emphasis on the major coastal cities. The Company owns
nine hotels with a total of 2,552 guest rooms in six states and the
District of Columbia, including San Francisco, California; Washington,
D.C.; Santa Monica, California; Minneapolis, Minnesota; Bethesda,
Maryland; Buckhead, Georgia; Stevenson, Washington; and Philadelphia,
Pennsylvania.
This press release contains statements that are “forward-looking
statements” within the meaning of Section 27A of the Securities Act of
1933, as amended, and Section 21E of the Securities Act of 1934, as
amended, pursuant to the safe harbor provisions of the Private
Securities Reform Act of 1995.Forward-looking statements are
generally identifiable by use of forward-looking terminology such as
“may,” “will,” “should,” “potential,” “intend,” “expect,” “seek,”
“anticipate,” “estimate,” “approximately,” “believe,” “could,”
“project,” “predict,” “forecast,” “continue,” “plan” or other similar
words or expressions.These forward-looking statements relate to
the payment of the dividends.Forward-looking statements are
based on certain assumptions and can include future expectations, future
plans and strategies, financial and operating projections or other
forward-looking information.These forward-looking statements are
subject to various risks and uncertainties, not all of which are known
to the Company and many of which are beyond the Company’s control, which
could cause actual results to differ materially from such statements.These risks and uncertainties include, but are not limited to, the
state of the U.S. economy, supply and demand in the hotel industry and
other factors as are described in greater detail in the Company’s
filings with the Securities and Exchange Commission (“SEC”), including,
without limitation, the Company’s Prospectus filed pursuant to Rule
424(b)(5) on March 9, 2011.Unless legally required, the Company
disclaims any obligation to update any forward-looking statements,
whether as a result of new information, future events or otherwise.
For information about the Company’s business and financial results,
please refer to the “Management’s Discussion and Analysis of Financial
Condition and Results of Operations” and “Risk Factors” sections of the
Company’s SEC filings, including, but not limited to, its Annual Report
on Form 10-K and Quarterly Reports on Form 10-Q, copies of which may be
obtained at the Investor Relations section of the Company’s website at www.pebblebrookhotels.com
and at www.sec.gov.
All information in this release is as of March 15, 2011.The
Company undertakes no duty to update the statements in this release to
conform the statements to actual results or changes in the Company’s
expectations.
For additional information or to receive press releases via email,
please visit our website at www.pebblebrookhotels.com
Source: Pebblebrook Hotel Trust
Contact:
Pebblebrook Hotel Trust
Raymond D. Martz, Chief Financial Officer
240-507-1330