Pebblebrook Hotel Trust (NYSE:PEB) on Friday reported preliminary This autumn and 2022 outcomes, with adj. FFO topping Street estimates, reflecting improved demand in direction of the top of the 12 months.

Shares of the REIT +1.7% in morning commerce.

Pebblebrook (PEB) mentioned December was barely higher than November, however winter storms on the finish of the 12 months impacted outcomes due to airline disruptions and cancellations.

The REIT expects This autumn adj. FFO per share $0.19-$0.20 vs. prior outlook of $0.13-$0.16. Consensus estimate is $0.17. The raised guidance is due to financial savings in company G&A, curiosity, and most popular dividend funds.

Same Property RevPAR is anticipated to be $174 vs. earlier guidance of $173-$175 (down 7.8% vs. 2019, up 25.6% Y/Y).

Pebblebrook (PEB) expects 2022 adj. FFO per share of $1.68-$1.69 vs. prior outlook of $1.61-$1.64. Consensus estimate is $1.63.

The REIT maintained its guidance for similar Property RevPAR at $193 (down 8% vs. 2019, up 67% Y/Y).

The firm additionally mentioned it is going to promote The Heathman Hotel in Portland, Oregon for $45M to a 3rd celebration. The sale is anticipated to shut later in Q1.

Pebblebrook (PEB) earlier lower its outlook to reflect Hurricane Nicole influence, and weak enterprise and leisure demand in November.