BETHESDA, Md.--(BUSINESS WIRE)--
Pebblebrook Hotel Trust (NYSE:PEB) (the “Company”) today announced the
partial reopening of the 189-room LaPlaya Beach Resort & Club
(“LaPlaya”) 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.
All information in this press release is as of November 20, 2017.The
Company undertakes no duty to update the statements in this press
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
View source version on businesswire.com: http://www.businesswire.com/news/home/20171120005258/en/
Pebblebrook Hotel Trust
Raymond D. Martz, 240-507-1330
Chief
Financial Officer
Source: Pebblebrook Hotel Trust