Pebblebrook Hotel Trust Announces Re-Branding of Delfina Santa Monica as Le Méridien Delfina Santa Monica
Pebblebrook Hotel Trust (NYSE: PEB) (the “Company”) today announced that
it will be re-branding its 310-room Sheraton Delfina Santa Monica as the
Le Méridien Delfina Santa Monica. This conversion is expected to be
completed in the fourth quarter of 2013. Viceroy Hotels and Resorts will
continue to manage the property.
Delfina Santa Monica Entrance (Photo: Pebblebrook Hotel Trust)
“We’re very excited about the up-branding of our Delfina Santa Monica
hotel to the Le Méridien brand,” said Jon E. Bortz, Chairman, President
and Chief Executive Officer of Pebblebrook Hotel Trust. “Starwood and
Viceroy have been excellent contributors to our success at this property
and we believe they will continue their momentum with the fast-growing,
upper upscale Le Méridien brand through a collaborative and integrated
approach to design and service that aligns very well with what we are
trying to accomplish at the property.”
“We believe this new concept is representative of the unified vision of
the Pebblebrook, Starwood and Viceroy partnership, and we are thrilled
with the opportunity to continue this partnership through the
re-introduction of the Delfina Santa Monica under the new Le Méridien
brand,” noted Bill Walshe, CEO of Viceroy Hotel Group.
In conjunction with the re-branding and repositioning, the Company
expects to incur $0.5 million of transition costs and to invest an
additional $2.0 million for capital improvements in the hotel.
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 26 hotels, including 20 wholly
owned hotels with a total of 4,960 guest rooms and a 49% joint venture
interest in six hotels with a total of 1,733 guest rooms. The Company
owns, or has an ownership interest in, hotels located in ten states and
the District of Columbia, across 16 markets: Los Angeles, California;
San Diego, California; San Francisco, California; Santa Monica,
California; West Hollywood, California; Miami, Florida; Buckhead,
Georgia; Bethesda, Maryland; Boston, Massachusetts; Minneapolis,
Minnesota; New York, New York; Portland, Oregon; Philadelphia,
Pennsylvania; Columbia River Gorge, Washington; Seattle, Washington; and
Washington, DC. For more information, please visit us at www.pebblebrookhotels.com
and on Twitter at @PebblebrookPEB.
About Viceroy Hotel Group
Viceroy Hotel Group delivers one-of-a-kind lifestyle experiences that
bring together provocative design and intuitive service in sought-after
locations. Signature brand amenities and services created for the
diverse business and leisure guests include dynamic dining venues
featuring world-class culinary talents and destination spas specializing
in health, fitness and beauty. Current properties include hotels and
resorts in Abu Dhabi, Anguilla, Beverly Hills, Maldives, Miami, New
York, Palm Springs, Riviera Maya, San Francisco, Santa Monica, Snowmass,
St. Lucia and Zihuatanejo with forthcoming openings in New York, Dubai,
Istanbul and Bodrum, Turkey. www.viceroyhotelgroup.com
This press release contains certain “forward-looking statements” made
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,” “assume,” “plan,” references to “outlook” or
other similar words or expressions. Forward-looking statements
are based on certain assumptions and can include future expectations,
future plans and strategies, financial and operating projections and
forecasts and other forward-looking information and estimates. Examples
of forward-looking statements include expectations of the amount of
transition costs and capital improvements. These forward-looking
statements are subject to various risks and uncertainties, 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 and other factors as are described in greater detail in the
Company’s filings with the Securities and Exchange Commission,
including, without limitation, the Company’s Annual Report on Form 10-K
for the year ended December 31, 2012.
All information in this release is as of July 24, 2013. Except
as required by law, the Company undertakes no duty to update the
statements in this release to conform the forward-looking 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
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