Union Station Hotel Nashville, Autograph Collection Sold for $56.0 Million

Union Station Hotel Nashville, Autograph Collection - Exterior
Union Station Hotel Nashville, Autograph Collection Sold for $56.0 Million

Pebblebrook Hotel Trust (NYSE: PEB) today announced that it closed on the sale of the 125-room Union Station Hotel Nashville, Autograph Collection in Nashville, TN for $56.0 million to a third party on July 29, 2020.

Proceeds from the sale of Union Station Hotel Nashville, Autograph Collection will be utilized for general business purposes which may include reducing the Company’s outstanding debt.

Pebblebrook Hotel Trust (NYSE: PEB) is a publicly traded real estate investment trust and the largest owner of urban and resort lifestyle hotels in the United States. The Company owns 53 hotels, totaling approximately 13,200 guest rooms across 14 urban and resort markets with a focus on the west coast gateway cities.

                     
Pebblebrook Hotel Trust
Historical Operating Data
($ in millions, except ADR and RevPAR)
(Unaudited)
                     
                     
Historical Operating Data:                    
   

First Quarter

 

Second Quarter

 

Third Quarter

 

Fourth Quarter

 

Full Year

   

2019

 

2019

 

2019

 

2019

 

2019

                     
Occupancy  

75%

 

87%

 

87%

 

79%

 

82%

ADR  

$251

 

$268

 

$263

 

$247

 

$258

RevPAR  

$189

 

$233

 

$230

 

$194

 

$211

                     
Hotel Revenues  

$331.5

 

$406.0

 

$398.5

 

$355.0

 

$1,491.0

Hotel EBITDA  

$90.0

 

$147.1

 

$137.0

 

$102.0

 

$476.0

Hotel EBITDA Margin  

27.2%

 

36.2%

 

34.4%

 

28.7%

 

31.9%

                     
   

First Quarter

               
   

2020

               
                     
Occupancy  

56%

               
ADR  

$250

               
RevPAR  

$139

               
                     
Hotel Revenues  

$252.8

               
Hotel EBITDA  

$39.0

               
Hotel EBITDA Margin  

15.4%