Pebblebrook Hotel Trust (NYSE: PEB) (the “Company”) today provided
notice to the record holders (the “Notice of Redemption”) of the
Company’s 7.875% Series A Cumulative Redeemable Preferred Shares (the
“Series A Preferred Shares”) of the redemption of all 5,600,000 of the
issued and outstanding Series A Preferred Shares. The cash redemption
amount (the “Redemption Amount”) for each Series A Preferred Share is
$25.00, plus accrued and unpaid dividends to, but not including, the
redemption date of March 11, 2016 (the “Redemption Date”).
On the Redemption Date, dividends on the Series A Preferred Shares will
cease to accrue. Payment of the Redemption Amount will be made only upon
delivery and surrender of the Series A Preferred Shares to Wells Fargo
Shareowner Services, the Company’s redemption and paying agent, during
its normal business hours at the address specified in the Notice of
Redemption.
The Notice of Redemption and related materials were mailed today to
holders of record of the Series A Preferred Shares. Questions relating
to the Notice of Redemption and related materials should be directed to
Wells Fargo Shareowner Services at 1-877-262-8260.
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 37 hotels, including 31 wholly
owned hotels with a total of 7,408 guest rooms and a 49% joint venture
interest in six hotels with a total of 1,787 guest rooms. The Company
owns, or has an ownership interest in, hotels located in 11 states and
the District of Columbia, including: San Francisco, California; Los
Angeles, California (Beverly Hills, Hollywood, Santa Monica and West
Hollywood); Boston, Massachusetts; New York, New York; San Diego,
California; Portland, Oregon; Buckhead, Georgia; Naples, Florida;
Seattle, Washington; Miami, Florida; Washington, DC; Philadelphia,
Pennsylvania; Columbia River Gorge, Washington; Nashville, Tennessee;
Bethesda, Maryland and Minneapolis, Minnesota. For more information,
please visit us at www.pebblebrookhotels.com
and follow us on Twitter at @PebblebrookPEB.
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” or other similar words or expressions. These
forward-looking statements relate to the redemption of the Series A
Preferred Shares. 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 Annual Report on Form 10-K for the year ended
December 31, 2014. 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 February 8, 2016. 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
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