<SEC-DOCUMENT>0001474098-26-000042.txt : 20260528
<SEC-HEADER>0001474098-26-000042.hdr.sgml : 20260528
<ACCEPTANCE-DATETIME>20260528160743
ACCESSION NUMBER:		0001474098-26-000042
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		15
CONFORMED PERIOD OF REPORT:	20260527
ITEM INFORMATION:		Regulation FD Disclosure
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20260528
DATE AS OF CHANGE:		20260528

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Pebblebrook Hotel Trust
		CENTRAL INDEX KEY:			0001474098
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE INVESTMENT TRUSTS [6798]
		ORGANIZATION NAME:           	05 Real Estate & Construction
		EIN:				271055421
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-34571
		FILM NUMBER:		261035650

	BUSINESS ADDRESS:	
		STREET 1:		4747 BETHESDA AVENUE
		STREET 2:		SUITE 1100
		CITY:			BETHESDA
		STATE:			MD
		ZIP:			20814
		BUSINESS PHONE:		240-507-1300

	MAIL ADDRESS:	
		STREET 1:		4747 BETHESDA AVENUE
		STREET 2:		SUITE 1100
		CITY:			BETHESDA
		STATE:			MD
		ZIP:			20814
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>peb-20260527.htm
<DESCRIPTION>8-K
<TEXT>
<XBRL>
<?xml version='1.0' encoding='ASCII'?>
<!--XBRL Document Created with the Workiva Platform-->
<!--Copyright 2026 Workiva-->
<!--r:019e653b-7ebd-745c-b120-1338c514a692,g:6afc0e1c-b05e-4d88-9737-10935c106c64,d:6c5d150b91044129a89d77653bab0a0f-->
<html xmlns="http://www.w3.org/1999/xhtml" xmlns:ixt-sec="http://www.sec.gov/inlineXBRL/transformation/2015-08-31" xmlns:ix="http://www.xbrl.org/2013/inlineXBRL" xmlns:ixt="http://www.xbrl.org/inlineXBRL/transformation/2020-02-12" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xmlns:dei="http://xbrl.sec.gov/dei/2026" xmlns:us-gaap="http://fasb.org/us-gaap/2026" xmlns:xbrli="http://www.xbrl.org/2003/instance" xmlns:xbrldi="http://xbrl.org/2006/xbrldi" xmlns:peb="http://www.pebblebrookhotels.com/20260527" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:xlink="http://www.w3.org/1999/xlink" xml:lang="en-US"><head><meta http-equiv="Content-Type" content="text/html"/>


<title>peb-20260527</title></head><body><div style="display:none"><ix:header><ix:hidden><ix:nonNumeric contextRef="c-1" name="dei:AmendmentFlag" id="f-34">false</ix:nonNumeric><ix:nonNumeric contextRef="c-1" name="dei:EntityCentralIndexKey" id="f-35">0001474098</ix:nonNumeric></ix:hidden><ix:references xml:lang="en-US"><link:schemaRef xlink:type="simple" xlink:href="peb-20260527.xsd"/></ix:references><ix:resources><xbrli:context id="c-1"><xbrli:entity><xbrli:identifier scheme="http://www.sec.gov/CIK">0001474098</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:startDate>2026-05-27</xbrli:startDate><xbrli:endDate>2026-05-27</xbrli:endDate></xbrli:period></xbrli:context><xbrli:context id="c-2"><xbrli:entity><xbrli:identifier scheme="http://www.sec.gov/CIK">0001474098</xbrli:identifier><xbrli:segment><xbrldi:explicitMember dimension="us-gaap:StatementClassOfStockAxis">us-gaap:CommonStockMember</xbrldi:explicitMember></xbrli:segment></xbrli:entity><xbrli:period><xbrli:startDate>2026-05-27</xbrli:startDate><xbrli:endDate>2026-05-27</xbrli:endDate></xbrli:period></xbrli:context><xbrli:context id="c-3"><xbrli:entity><xbrli:identifier scheme="http://www.sec.gov/CIK">0001474098</xbrli:identifier><xbrli:segment><xbrldi:explicitMember dimension="us-gaap:StatementClassOfStockAxis">us-gaap:SeriesEPreferredStockMember</xbrldi:explicitMember></xbrli:segment></xbrli:entity><xbrli:period><xbrli:startDate>2026-05-27</xbrli:startDate><xbrli:endDate>2026-05-27</xbrli:endDate></xbrli:period></xbrli:context><xbrli:context id="c-4"><xbrli:entity><xbrli:identifier scheme="http://www.sec.gov/CIK">0001474098</xbrli:identifier><xbrli:segment><xbrldi:explicitMember dimension="us-gaap:StatementClassOfStockAxis">us-gaap:SeriesFPreferredStockMember</xbrldi:explicitMember></xbrli:segment></xbrli:entity><xbrli:period><xbrli:startDate>2026-05-27</xbrli:startDate><xbrli:endDate>2026-05-27</xbrli:endDate></xbrli:period></xbrli:context><xbrli:context id="c-5"><xbrli:entity><xbrli:identifier scheme="http://www.sec.gov/CIK">0001474098</xbrli:identifier><xbrli:segment><xbrldi:explicitMember dimension="us-gaap:StatementClassOfStockAxis">us-gaap:SeriesGPreferredStockMember</xbrldi:explicitMember></xbrli:segment></xbrli:entity><xbrli:period><xbrli:startDate>2026-05-27</xbrli:startDate><xbrli:endDate>2026-05-27</xbrli:endDate></xbrli:period></xbrli:context><xbrli:context id="c-6"><xbrli:entity><xbrli:identifier scheme="http://www.sec.gov/CIK">0001474098</xbrli:identifier><xbrli:segment><xbrldi:explicitMember dimension="us-gaap:StatementClassOfStockAxis">us-gaap:SeriesHPreferredStockMember</xbrldi:explicitMember></xbrli:segment></xbrli:entity><xbrli:period><xbrli:startDate>2026-05-27</xbrli:startDate><xbrli:endDate>2026-05-27</xbrli:endDate></xbrli:period></xbrli:context></ix:resources></ix:header></div><div id="i6c5d150b91044129a89d77653bab0a0f_1"></div><div style="min-height:42.75pt;width:100%"><div><span><br/></span></div></div><div style="-sec-extract:summary;text-align:center"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:12pt;font-weight:700;line-height:120%">UNITED STATES</span></div><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:12pt;font-weight:700;line-height:120%">SECURITIES AND EXCHANGE COMMISSION</span></div><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:120%">WASHINGTON, D.C. 20549</span></div><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:18pt;font-weight:700;line-height:120%">FORM <ix:nonNumeric contextRef="c-1" name="dei:DocumentType" id="f-1">8-K</ix:nonNumeric> </span></div><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:120%">CURRENT REPORT</span></div><div><span><br/></span></div><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:120%">Pursuant to Section&#160;13 or 15(d) of the Securities Exchange Act of 1934</span></div><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:120%">Date of Report (Date of Earliest Event Reported): <ix:nonNumeric contextRef="c-1" name="dei:DocumentPeriodEndDate" format="ixt:date-monthname-day-year-en" id="f-2">May 27, 2026</ix:nonNumeric> </span></div><div><span><br/></span></div><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:24pt;font-weight:700;line-height:120%"><ix:nonNumeric contextRef="c-1" name="dei:EntityRegistrantName" id="f-3">PEBBLEBROOK HOTEL TRUST</ix:nonNumeric> </span></div><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">(Exact name of registrant as specified in its charter)</span></div><div style="text-align:center"><span><br/></span></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.561%"><tr><td style="width:1.0%"/><td style="width:29.590%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:2.864%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:29.590%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:2.864%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:29.592%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonNumeric contextRef="c-1" name="dei:EntityIncorporationStateCountryCode" format="ixt-sec:stateprovnameen" id="f-4">Maryland</ix:nonNumeric></span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonNumeric contextRef="c-1" name="dei:EntityFileNumber" id="f-5">001-34571</ix:nonNumeric></span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonNumeric contextRef="c-1" name="dei:EntityTaxIdentificationNumber" id="f-6">27-1055421</ix:nonNumeric></span></td></tr><tr><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">(State or other jurisdiction</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">(Commission</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">(I.R.S. Employer</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">of incorporation)</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">File Number)</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Identification No.)</span></td></tr></table></div><div><span><br/></span></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:68.567%"><tr><td style="width:1.0%"/><td style="width:38.772%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:38.772%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:4.656%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:13.400%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="6" style="border-bottom:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonNumeric contextRef="c-1" name="dei:EntityAddressAddressLine1" id="f-7">4747 Bethesda Avenue</ix:nonNumeric>, <ix:nonNumeric contextRef="c-1" name="dei:EntityAddressAddressLine2" id="f-8">Suite 1100</ix:nonNumeric>, <ix:nonNumeric contextRef="c-1" name="dei:EntityAddressCityOrTown" id="f-9">Bethesda</ix:nonNumeric>, <ix:nonNumeric contextRef="c-1" name="dei:EntityAddressStateOrProvince" format="ixt-sec:stateprovnameen" id="f-10">Maryland</ix:nonNumeric></span></div></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonNumeric contextRef="c-1" name="dei:EntityAddressPostalZipCode" id="f-11">20814</ix:nonNumeric></span></td></tr><tr><td colspan="6" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">(Address of principal executive offices)</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">(Zip Code)</span></td></tr></table></div><div style="text-align:center"><span><br/></span></div><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">Registrant's telephone number, including area code: (<ix:nonNumeric contextRef="c-1" name="dei:CityAreaCode" id="f-12">240</ix:nonNumeric>)&#160;<ix:nonNumeric contextRef="c-1" name="dei:LocalPhoneNumber" id="f-13">507-1300</ix:nonNumeric> </span></div><div style="text-align:center"><span><br/></span></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:56.578%"><tr><td style="width:1.0%"/><td style="width:98.900%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Not Applicable</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Former name or former address, if changed since last report</span></td></tr></table></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</span></div><div><span><br/></span></div><div style="margin-bottom:4pt;margin-top:4pt;padding-right:2.25pt"><span style="color:#000000;font-family:'Arial Unicode MS',sans-serif;font-size:10pt;font-weight:400;line-height:120%"><ix:nonNumeric contextRef="c-1" name="dei:WrittenCommunications" format="ixt-sec:boolballotbox" id="f-14">&#9744;</ix:nonNumeric></span><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">&#160;&#160;&#160;&#160;&#160;Written communications pursuant to Rule&#160;425 under the Securities Act (17 CFR 230.425)</span></div><div style="margin-bottom:4pt;margin-top:4pt;padding-right:2.25pt"><span style="color:#000000;font-family:'Arial Unicode MS',sans-serif;font-size:10pt;font-weight:400;line-height:120%"><ix:nonNumeric contextRef="c-1" name="dei:SolicitingMaterial" format="ixt-sec:boolballotbox" id="f-15">&#9744;</ix:nonNumeric></span><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">&#160;&#160;&#160;&#160;&#160;Soliciting material pursuant to Rule&#160;14a-12 under the Exchange Act (17 CFR 240.14a-12)</span></div><div style="margin-bottom:4pt;margin-top:4pt;padding-right:2.25pt"><span style="color:#000000;font-family:'Arial Unicode MS',sans-serif;font-size:10pt;font-weight:400;line-height:120%"><ix:nonNumeric contextRef="c-1" name="dei:PreCommencementTenderOffer" format="ixt-sec:boolballotbox" id="f-16">&#9744;</ix:nonNumeric></span><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">&#160;&#160;&#160;&#160;&#160;Pre-commencement communications pursuant to Rule&#160;14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</span></div><div style="margin-bottom:4pt;margin-top:4pt;padding-right:2.25pt"><span style="color:#000000;font-family:'Arial Unicode MS',sans-serif;font-size:10pt;font-weight:400;line-height:120%"><ix:nonNumeric contextRef="c-1" name="dei:PreCommencementIssuerTenderOffer" format="ixt-sec:boolballotbox" id="f-17">&#9744;</ix:nonNumeric></span><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">&#160;&#160;&#160;&#160;&#160;Pre-commencement communications pursuant to Rule&#160;13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</span></div><div style="margin-bottom:4pt;margin-top:4pt;padding-right:2.25pt"><span><br/></span></div><div style="margin-top:4pt;padding-left:1.12pt;padding-right:1.12pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:54.163%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:1.115%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.005%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:1.408%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:23.609%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Securities registered pursuant to Section 12(b) of the Act:</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Title of each class</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Trading Symbol(s)</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Name of each exchange on which registered</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonNumeric contextRef="c-2" name="dei:Security12bTitle" id="f-18">Common Shares, $0.01 par value per share</ix:nonNumeric></span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonNumeric contextRef="c-2" name="dei:TradingSymbol" id="f-19">PEB</ix:nonNumeric></span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonNumeric contextRef="c-2" name="dei:SecurityExchangeName" format="ixt-sec:exchnameen" id="f-20">New York Stock Exchange</ix:nonNumeric></span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonNumeric contextRef="c-3" name="dei:Security12bTitle" id="f-21">Series E Cumulative Redeemable Preferred Shares, $0.01 par value</ix:nonNumeric></span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonNumeric contextRef="c-3" name="dei:TradingSymbol" id="f-22">PEB-PE</ix:nonNumeric></span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonNumeric contextRef="c-3" name="dei:SecurityExchangeName" format="ixt-sec:exchnameen" id="f-23">New York Stock Exchange</ix:nonNumeric></span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonNumeric contextRef="c-4" name="dei:Security12bTitle" id="f-24">Series F Cumulative Redeemable Preferred Shares, $0.01 par value</ix:nonNumeric></span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonNumeric contextRef="c-4" name="dei:TradingSymbol" id="f-25">PEB-PF</ix:nonNumeric></span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonNumeric contextRef="c-4" name="dei:SecurityExchangeName" format="ixt-sec:exchnameen" id="f-26">New York Stock Exchange</ix:nonNumeric></span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonNumeric contextRef="c-5" name="dei:Security12bTitle" id="f-27">Series G Cumulative Redeemable Preferred Shares, $0.01 par value</ix:nonNumeric></span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonNumeric contextRef="c-5" name="dei:TradingSymbol" id="f-28">PEB-PG</ix:nonNumeric></span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonNumeric contextRef="c-5" name="dei:SecurityExchangeName" format="ixt-sec:exchnameen" id="f-29">New York Stock Exchange</ix:nonNumeric></span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonNumeric contextRef="c-6" name="dei:Security12bTitle" id="f-30">Series H Cumulative Redeemable Preferred Shares, $0.01 par value</ix:nonNumeric></span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonNumeric contextRef="c-6" name="dei:TradingSymbol" id="f-31">PEB-PH</ix:nonNumeric></span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonNumeric contextRef="c-6" name="dei:SecurityExchangeName" format="ixt-sec:exchnameen" id="f-32">New York Stock Exchange</ix:nonNumeric></span></td></tr></table></div><div style="margin-bottom:4pt"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (&#167;230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (&#167;240.12b-2 of this chapter). </span></div><div style="margin-bottom:4pt;margin-top:4pt"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">Emerging growth company     </span><span style="color:#000000;font-family:'Arial Unicode MS',sans-serif;font-size:10pt;font-weight:400;line-height:120%"><ix:nonNumeric contextRef="c-1" name="dei:EntityEmergingGrowthCompany" format="ixt-sec:boolballotbox" id="f-33">&#9744;</ix:nonNumeric></span><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">&#160; </span></div><div style="margin-bottom:4pt;margin-top:4pt"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.     &#9744;</span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span><br/></span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div><span><br/></span></div></div><div style="margin-bottom:3pt;margin-top:3pt"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:120%">Item 7.01. Regulation FD Disclosure.</span></div><div style="text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:115%">Pebblebrook Hotel Trust (the "Company") issued a press release on May 28, 2026, announcing that on May 27, 2026, it closed on the sale of the 115-room Chamberlain West Hollywood Hotel, located in Los Angeles, CA, for $43.5 million to a third party. The press release also includes an updated second-quarter and full-year 2026 Outlook.</span></div><div style="text-indent:36pt"><span><br/></span></div><div style="text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is hereby incorporated by reference herein.</span></div><div style="margin-bottom:3pt;margin-top:3pt"><span><br/></span></div><div style="margin-bottom:3pt;margin-top:3pt"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:120%">Item 8.01. Other Events.</span></div><div style="text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:115%">On May 27, 2026, the Company closed on the sale of the 115-room Chamberlain West Hollywood Hotel, located in Los Angeles, CA, for $43.5 million to a third party. Proceeds from the sale will be used for general corporate purposes, with a primary focus on reducing outstanding net debt and preferred equity, opportunistically repurchasing the Company's common shares, and supporting other high-return capital allocation priorities intended to enhance long-term shareholder value.</span></div><div style="margin-bottom:3pt;margin-top:3pt"><span><br/></span></div><div style="margin-bottom:3pt;margin-top:3pt"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:120%">Forward-Looking Statements</span></div><div><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:115%">This Current Report on Form 8-K 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 the use of forward-looking terminology such as "estimated" and "will" 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. The intended use of proceeds is a forward-looking statement. 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, the operating performance of our hotels and the supply of hotel properties, 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, 2025. 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.</span></div><div style="margin-bottom:3pt;margin-top:3pt"><span><br/></span></div><div style="margin-bottom:3pt;margin-top:3pt"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:120%">Item 9.01. Financial Statements and Exhibits.</span></div><div style="margin-bottom:3pt;margin-top:3pt"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">(d)&#160;Exhibits</span></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:10.011%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:1.970%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:84.719%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:100%">Exhibit No.</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:100%">Description</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><div><span style="color:#0000ff;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="-sec-extract:exhibit;color:#0000ff;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline" href="peb052826chamberlainsaleex.htm">99.1</a></span></div></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><div><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:115%">Press release, issued May 28, 2026, announcing the sale of Chamberlain West Hollywood Hotel, in Los Angeles, CA.</span></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">104</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Cover Page Interactive Data File (embedded within the Inline XBRL document)</span></td></tr></table></div><div style="margin-bottom:4pt;margin-top:9pt"><span><br/></span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span><br/></span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div><span><br/></span></div></div><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:120%">SIGNATURES</span></div><div style="text-align:center"><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</span></div><div><span><br/></span></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"/><td style="width:41.652%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:2.999%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.513%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:44.436%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="9" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">PEBBLEBROOK HOTEL TRUST&#160;</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="9" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:100%">May 28, 2026</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">By:&#160;&#160;</span></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:100%">/s/ Raymond D. Martz</span></td></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Name:&#160;&#160;</span></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:100%">Raymond D. Martz</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Title:&#160;&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:100%">Co-President, Chief Financial Officer, Treasurer and Secretary</span></td></tr></table></div><div style="text-align:center"><span><br/></span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span><br/></span></div></div></div></body></html>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.SCH
<SEQUENCE>2
<FILENAME>peb-20260527.xsd
<DESCRIPTION>XBRL TAXONOMY EXTENSION SCHEMA DOCUMENT
<TEXT>
<XBRL>
<?xml version="1.0" encoding="UTF-8"?>

<!--XBRL Document Created with the Workiva Platform-->
<!--Copyright 2026 Workiva-->
<!--r:019e653b-7ebd-745c-b120-1338c514a692,g:6afc0e1c-b05e-4d88-9737-10935c106c64-->
<xs:schema xmlns:xs="http://www.w3.org/2001/XMLSchema" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:peb="http://www.pebblebrookhotels.com/20260527" xmlns:xbrli="http://www.xbrl.org/2003/instance" attributeFormDefault="unqualified" elementFormDefault="qualified" targetNamespace="http://www.pebblebrookhotels.com/20260527">
  <xs:import namespace="http://fasb.org/us-gaap/2026" schemaLocation="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd"/>
  <xs:import namespace="http://www.xbrl.org/2003/instance" schemaLocation="http://www.xbrl.org/2003/xbrl-instance-2003-12-31.xsd"/>
  <xs:import namespace="http://www.xbrl.org/2003/linkbase" schemaLocation="http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd"/>
  <xs:import namespace="http://xbrl.sec.gov/dei/2026" schemaLocation="https://xbrl.sec.gov/dei/2026/dei-2026.xsd"/>
  <xs:annotation>
    <xs:appinfo>
      <link:linkbaseRef xmlns:xlink="http://www.w3.org/1999/xlink" xlink:arcrole="http://www.w3.org/1999/xlink/properties/linkbase" xlink:href="peb-20260527_pre.xml" xlink:role="http://www.xbrl.org/2003/role/presentationLinkbaseRef" xlink:type="simple"/>
      <link:linkbaseRef xmlns:xlink="http://www.w3.org/1999/xlink" xlink:arcrole="http://www.w3.org/1999/xlink/properties/linkbase" xlink:href="peb-20260527_def.xml" xlink:role="http://www.xbrl.org/2003/role/definitionLinkbaseRef" xlink:type="simple"/>
      <link:linkbaseRef xmlns:xlink="http://www.w3.org/1999/xlink" xlink:arcrole="http://www.w3.org/1999/xlink/properties/linkbase" xlink:href="peb-20260527_lab.xml" xlink:role="http://www.xbrl.org/2003/role/labelLinkbaseRef" xlink:type="simple"/>
      <link:roleType id="DocumentandEntityInformationDocument" roleURI="http://www.pebblebrookhotels.com/role/DocumentandEntityInformationDocument">
        <link:definition>0000001 - Document - Document and Entity Information Document</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
    </xs:appinfo>
  </xs:annotation>
  <xs:element id="peb_DocumentAndEntityInformationAbstract" abstract="true" name="DocumentAndEntityInformationAbstract" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="xbrli:stringItemType"/>
</xs:schema>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.DEF
<SEQUENCE>3
<FILENAME>peb-20260527_def.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION DEFINITION LINKBASE DOCUMENT
<TEXT>
<XBRL>
<?xml version="1.0" encoding="UTF-8"?>

<!--XBRL Document Created with the Workiva Platform-->
<!--Copyright 2026 Workiva-->
<!--r:019e653b-7ebd-745c-b120-1338c514a692,g:6afc0e1c-b05e-4d88-9737-10935c106c64-->
<link:linkbase xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xmlns:xbrldt="http://xbrl.org/2005/xbrldt" xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd">
  <link:arcroleRef arcroleURI="http://xbrl.org/int/dim/arcrole/all" xlink:type="simple" xlink:href="http://www.xbrl.org/2005/xbrldt-2005.xsd#all"/>
  <link:arcroleRef arcroleURI="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:type="simple" xlink:href="http://www.xbrl.org/2005/xbrldt-2005.xsd#hypercube-dimension"/>
  <link:arcroleRef arcroleURI="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:type="simple" xlink:href="http://www.xbrl.org/2005/xbrldt-2005.xsd#dimension-default"/>
  <link:arcroleRef arcroleURI="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:type="simple" xlink:href="http://www.xbrl.org/2005/xbrldt-2005.xsd#dimension-domain"/>
  <link:arcroleRef arcroleURI="http://xbrl.org/int/dim/arcrole/domain-member" xlink:type="simple" xlink:href="http://www.xbrl.org/2005/xbrldt-2005.xsd#domain-member"/>
  <link:roleRef roleURI="http://www.pebblebrookhotels.com/role/DocumentandEntityInformationDocument" xlink:type="simple" xlink:href="peb-20260527.xsd#DocumentandEntityInformationDocument"/>
  <link:definitionLink xlink:role="http://www.pebblebrookhotels.com/role/DocumentandEntityInformationDocument" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityInformationLineItems_019e653b-7ebd-79c3-9587-4910032c0617" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntityInformationLineItems"/>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntitiesTable_019e653b-7ebd-7698-ba9d-611a2535eb80" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntitiesTable"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="loc_dei_EntityInformationLineItems_019e653b-7ebd-79c3-9587-4910032c0617" xlink:to="loc_dei_EntitiesTable_019e653b-7ebd-7698-ba9d-611a2535eb80" xlink:type="arc" order="1" xbrldt:closed="true" xbrldt:contextElement="segment"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StatementClassOfStockAxis_019e653b-7ebd-7133-9939-b064b9fcad02" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_StatementClassOfStockAxis"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_dei_EntitiesTable_019e653b-7ebd-7698-ba9d-611a2535eb80" xlink:to="loc_us-gaap_StatementClassOfStockAxis_019e653b-7ebd-7133-9939-b064b9fcad02" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ClassOfStockDomain_019e653b-7ebd-7133-9939-b064b9fcad02_default" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ClassOfStockDomain"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_us-gaap_StatementClassOfStockAxis_019e653b-7ebd-7133-9939-b064b9fcad02" xlink:to="loc_us-gaap_ClassOfStockDomain_019e653b-7ebd-7133-9939-b064b9fcad02_default" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ClassOfStockDomain_019e653b-7ebd-7f77-b9a5-ba07a32e48a3" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ClassOfStockDomain"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaap_StatementClassOfStockAxis_019e653b-7ebd-7133-9939-b064b9fcad02" xlink:to="loc_us-gaap_ClassOfStockDomain_019e653b-7ebd-7f77-b9a5-ba07a32e48a3" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CommonStockMember_019e653b-7ebd-7dd9-bd97-d44c189ef9c7" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_CommonStockMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_ClassOfStockDomain_019e653b-7ebd-7f77-b9a5-ba07a32e48a3" xlink:to="loc_us-gaap_CommonStockMember_019e653b-7ebd-7dd9-bd97-d44c189ef9c7" xlink:type="arc" order="0"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SeriesEPreferredStockMember_019e653b-7ebd-75d0-9982-9d39895245a3" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_SeriesEPreferredStockMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_ClassOfStockDomain_019e653b-7ebd-7f77-b9a5-ba07a32e48a3" xlink:to="loc_us-gaap_SeriesEPreferredStockMember_019e653b-7ebd-75d0-9982-9d39895245a3" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SeriesFPreferredStockMember_019e653b-7ebd-7ced-9fc6-f45c6084551b" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_SeriesFPreferredStockMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_ClassOfStockDomain_019e653b-7ebd-7f77-b9a5-ba07a32e48a3" xlink:to="loc_us-gaap_SeriesFPreferredStockMember_019e653b-7ebd-7ced-9fc6-f45c6084551b" xlink:type="arc" order="2"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SeriesGPreferredStockMember_019e653b-7ebd-73bf-8fbc-fed5428356e9" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_SeriesGPreferredStockMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_ClassOfStockDomain_019e653b-7ebd-7f77-b9a5-ba07a32e48a3" xlink:to="loc_us-gaap_SeriesGPreferredStockMember_019e653b-7ebd-73bf-8fbc-fed5428356e9" xlink:type="arc" order="3"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SeriesHPreferredStockMember_019e653b-7ebd-7c18-9a9d-fa1ffbe44208" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_SeriesHPreferredStockMember"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_ClassOfStockDomain_019e653b-7ebd-7f77-b9a5-ba07a32e48a3" xlink:to="loc_us-gaap_SeriesHPreferredStockMember_019e653b-7ebd-7c18-9a9d-fa1ffbe44208" xlink:type="arc" order="4"/>
    <link:loc xlink:type="locator" xlink:label="loc_dei_DocumentType_019e653b-7ebd-7721-bc46-b507bcbf397e" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_DocumentType"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_dei_EntityInformationLineItems_019e653b-7ebd-79c3-9587-4910032c0617" xlink:to="loc_dei_DocumentType_019e653b-7ebd-7721-bc46-b507bcbf397e" xlink:type="arc" order="0"/>
    <link:loc xlink:type="locator" xlink:label="loc_dei_AmendmentFlag_019e653b-7ebd-701e-b025-b1fd524c42f4" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_AmendmentFlag"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_dei_EntityInformationLineItems_019e653b-7ebd-79c3-9587-4910032c0617" xlink:to="loc_dei_AmendmentFlag_019e653b-7ebd-701e-b025-b1fd524c42f4" xlink:type="arc" order="1"/>
    <link:loc xlink:type="locator" xlink:label="loc_dei_DocumentPeriodEndDate_019e653b-7ebd-7188-b270-ee4da304b612" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_DocumentPeriodEndDate"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_dei_EntityInformationLineItems_019e653b-7ebd-79c3-9587-4910032c0617" xlink:to="loc_dei_DocumentPeriodEndDate_019e653b-7ebd-7188-b270-ee4da304b612" xlink:type="arc" order="2"/>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityRegistrantName_019e653b-7ebd-75df-b2aa-11ae40a19f87" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntityRegistrantName"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_dei_EntityInformationLineItems_019e653b-7ebd-79c3-9587-4910032c0617" xlink:to="loc_dei_EntityRegistrantName_019e653b-7ebd-75df-b2aa-11ae40a19f87" xlink:type="arc" order="3"/>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityCentralIndexKey_019e653b-7ebd-783c-8904-6afb1be21d61" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntityCentralIndexKey"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_dei_EntityInformationLineItems_019e653b-7ebd-79c3-9587-4910032c0617" xlink:to="loc_dei_EntityCentralIndexKey_019e653b-7ebd-783c-8904-6afb1be21d61" xlink:type="arc" order="4"/>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityIncorporationStateCountryCode_019e653b-7ebd-78be-8a72-2c3bbbd6f5f5" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntityIncorporationStateCountryCode"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_dei_EntityInformationLineItems_019e653b-7ebd-79c3-9587-4910032c0617" xlink:to="loc_dei_EntityIncorporationStateCountryCode_019e653b-7ebd-78be-8a72-2c3bbbd6f5f5" xlink:type="arc" order="5"/>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityFileNumber_019e653b-7ebd-786b-a845-449ab03e84fa" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntityFileNumber"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_dei_EntityInformationLineItems_019e653b-7ebd-79c3-9587-4910032c0617" xlink:to="loc_dei_EntityFileNumber_019e653b-7ebd-786b-a845-449ab03e84fa" xlink:type="arc" order="6"/>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityTaxIdentificationNumber_019e653b-7ebd-76f5-8781-0e2f2e2e791a" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntityTaxIdentificationNumber"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_dei_EntityInformationLineItems_019e653b-7ebd-79c3-9587-4910032c0617" xlink:to="loc_dei_EntityTaxIdentificationNumber_019e653b-7ebd-76f5-8781-0e2f2e2e791a" xlink:type="arc" order="7"/>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityAddressAddressLine1_019e653b-7ebd-7b4b-9db7-0c6beab62a16" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntityAddressAddressLine1"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_dei_EntityInformationLineItems_019e653b-7ebd-79c3-9587-4910032c0617" xlink:to="loc_dei_EntityAddressAddressLine1_019e653b-7ebd-7b4b-9db7-0c6beab62a16" xlink:type="arc" order="8"/>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityAddressAddressLine2_019e653b-7ebd-7f3a-b4d7-8a2adfdf6459" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntityAddressAddressLine2"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_dei_EntityInformationLineItems_019e653b-7ebd-79c3-9587-4910032c0617" xlink:to="loc_dei_EntityAddressAddressLine2_019e653b-7ebd-7f3a-b4d7-8a2adfdf6459" xlink:type="arc" order="9"/>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityAddressCityOrTown_019e653b-7ebd-7ab8-b464-abf71af9f9e4" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntityAddressCityOrTown"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_dei_EntityInformationLineItems_019e653b-7ebd-79c3-9587-4910032c0617" xlink:to="loc_dei_EntityAddressCityOrTown_019e653b-7ebd-7ab8-b464-abf71af9f9e4" xlink:type="arc" order="10"/>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityAddressStateOrProvince_019e653b-7ebd-7c4c-882e-36204b66c3a9" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntityAddressStateOrProvince"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_dei_EntityInformationLineItems_019e653b-7ebd-79c3-9587-4910032c0617" xlink:to="loc_dei_EntityAddressStateOrProvince_019e653b-7ebd-7c4c-882e-36204b66c3a9" xlink:type="arc" order="11"/>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityAddressPostalZipCode_019e653b-7ebd-7c15-a945-f8a1d4ad22f5" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntityAddressPostalZipCode"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_dei_EntityInformationLineItems_019e653b-7ebd-79c3-9587-4910032c0617" xlink:to="loc_dei_EntityAddressPostalZipCode_019e653b-7ebd-7c15-a945-f8a1d4ad22f5" xlink:type="arc" order="12"/>
    <link:loc xlink:type="locator" xlink:label="loc_dei_CityAreaCode_019e653b-7ebd-74a5-9ba8-0094f3d870fd" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_CityAreaCode"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_dei_EntityInformationLineItems_019e653b-7ebd-79c3-9587-4910032c0617" xlink:to="loc_dei_CityAreaCode_019e653b-7ebd-74a5-9ba8-0094f3d870fd" xlink:type="arc" order="13"/>
    <link:loc xlink:type="locator" xlink:label="loc_dei_LocalPhoneNumber_019e653b-7ebd-7b85-adfc-3ab58bfa4e2a" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_LocalPhoneNumber"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_dei_EntityInformationLineItems_019e653b-7ebd-79c3-9587-4910032c0617" xlink:to="loc_dei_LocalPhoneNumber_019e653b-7ebd-7b85-adfc-3ab58bfa4e2a" xlink:type="arc" order="14"/>
    <link:loc xlink:type="locator" xlink:label="loc_dei_WrittenCommunications_019e653b-7ebd-74f8-8576-d59ff3f9d619" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_WrittenCommunications"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_dei_EntityInformationLineItems_019e653b-7ebd-79c3-9587-4910032c0617" xlink:to="loc_dei_WrittenCommunications_019e653b-7ebd-74f8-8576-d59ff3f9d619" xlink:type="arc" order="15"/>
    <link:loc xlink:type="locator" xlink:label="loc_dei_SolicitingMaterial_019e653b-7ebd-70de-bf49-dc6a3bd2d67b" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_SolicitingMaterial"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_dei_EntityInformationLineItems_019e653b-7ebd-79c3-9587-4910032c0617" xlink:to="loc_dei_SolicitingMaterial_019e653b-7ebd-70de-bf49-dc6a3bd2d67b" xlink:type="arc" order="16"/>
    <link:loc xlink:type="locator" xlink:label="loc_dei_PreCommencementTenderOffer_019e653b-7ebd-75bd-a4db-98268af8f597" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_PreCommencementTenderOffer"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_dei_EntityInformationLineItems_019e653b-7ebd-79c3-9587-4910032c0617" xlink:to="loc_dei_PreCommencementTenderOffer_019e653b-7ebd-75bd-a4db-98268af8f597" xlink:type="arc" order="17"/>
    <link:loc xlink:type="locator" xlink:label="loc_dei_PreCommencementIssuerTenderOffer_019e653b-7ebd-7059-b516-f6970841a39a" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_PreCommencementIssuerTenderOffer"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_dei_EntityInformationLineItems_019e653b-7ebd-79c3-9587-4910032c0617" xlink:to="loc_dei_PreCommencementIssuerTenderOffer_019e653b-7ebd-7059-b516-f6970841a39a" xlink:type="arc" order="18"/>
    <link:loc xlink:type="locator" xlink:label="loc_dei_Security12bTitle_019e653b-7ebd-71a7-95ed-b61b4b5ae473" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_Security12bTitle"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_dei_EntityInformationLineItems_019e653b-7ebd-79c3-9587-4910032c0617" xlink:to="loc_dei_Security12bTitle_019e653b-7ebd-71a7-95ed-b61b4b5ae473" xlink:type="arc" order="19"/>
    <link:loc xlink:type="locator" xlink:label="loc_dei_TradingSymbol_019e653b-7ebd-7fb6-b273-0551e17bd11e" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_TradingSymbol"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_dei_EntityInformationLineItems_019e653b-7ebd-79c3-9587-4910032c0617" xlink:to="loc_dei_TradingSymbol_019e653b-7ebd-7fb6-b273-0551e17bd11e" xlink:type="arc" order="20"/>
    <link:loc xlink:type="locator" xlink:label="loc_dei_SecurityExchangeName_019e653b-7ebd-72a4-a9c6-375e513fc23d" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_SecurityExchangeName"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_dei_EntityInformationLineItems_019e653b-7ebd-79c3-9587-4910032c0617" xlink:to="loc_dei_SecurityExchangeName_019e653b-7ebd-72a4-a9c6-375e513fc23d" xlink:type="arc" order="21"/>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityEmergingGrowthCompany_019e653b-7ebd-7230-8540-7c44c6c6b615" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntityEmergingGrowthCompany"/>
    <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_dei_EntityInformationLineItems_019e653b-7ebd-79c3-9587-4910032c0617" xlink:to="loc_dei_EntityEmergingGrowthCompany_019e653b-7ebd-7230-8540-7c44c6c6b615" xlink:type="arc" order="22"/>
  </link:definitionLink>
</link:linkbase>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.LAB
<SEQUENCE>4
<FILENAME>peb-20260527_lab.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION LABEL LINKBASE DOCUMENT
<TEXT>
<XBRL>
<?xml version="1.0" encoding="UTF-8"?>

<!--XBRL Document Created with the Workiva Platform-->
<!--Copyright 2026 Workiva-->
<!--r:019e653b-7ebd-745c-b120-1338c514a692,g:6afc0e1c-b05e-4d88-9737-10935c106c64-->
<link:linkbase xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd">
  <link:roleRef roleURI="http://www.xbrl.org/2009/role/negatedPeriodStartLabel" xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedPeriodStartLabel"/>
  <link:roleRef roleURI="http://www.xbrl.org/2009/role/netLabel" xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/net-2009-12-16.xsd#netLabel"/>
  <link:roleRef roleURI="http://www.xbrl.org/2009/role/negatedNetLabel" xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedNetLabel"/>
  <link:roleRef roleURI="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedTerseLabel"/>
  <link:roleRef roleURI="http://www.xbrl.org/2009/role/negatedPeriodEndLabel" xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedPeriodEndLabel"/>
  <link:roleRef roleURI="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedLabel"/>
  <link:roleRef roleURI="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedTotalLabel"/>
  <link:labelLink xlink:role="http://www.xbrl.org/2003/role/link" xlink:type="extended">
    <link:label id="lab_us-gaap_CommonStockMember_019e653b-7ebd-7e14-9c15-722abbe94d36_terseLabel_en-US" xlink:label="lab_us-gaap_CommonStockMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Common Shares, $0.01 par value per share</link:label>
    <link:label id="lab_us-gaap_CommonStockMember_label_en-US" xlink:label="lab_us-gaap_CommonStockMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Common Stock [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CommonStockMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_CommonStockMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommonStockMember" xlink:to="lab_us-gaap_CommonStockMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_SeriesEPreferredStockMember_019e653b-7ebd-78eb-a54c-fd3acff966fd_terseLabel_en-US" xlink:label="lab_us-gaap_SeriesEPreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Series E Cumulative Redeemable Preferred Shares, $0.01 par value</link:label>
    <link:label id="lab_us-gaap_SeriesEPreferredStockMember_label_en-US" xlink:label="lab_us-gaap_SeriesEPreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Series E Preferred Stock [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SeriesEPreferredStockMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_SeriesEPreferredStockMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SeriesEPreferredStockMember" xlink:to="lab_us-gaap_SeriesEPreferredStockMember" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityTaxIdentificationNumber_019e653b-7ebd-757c-9216-166ba69c05b3_terseLabel_en-US" xlink:label="lab_dei_EntityTaxIdentificationNumber" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Tax Identification Number</link:label>
    <link:label id="lab_dei_EntityTaxIdentificationNumber_label_en-US" xlink:label="lab_dei_EntityTaxIdentificationNumber" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Tax Identification Number</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityTaxIdentificationNumber" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntityTaxIdentificationNumber"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityTaxIdentificationNumber" xlink:to="lab_dei_EntityTaxIdentificationNumber" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityAddressAddressLine2_019e653b-7ebd-75cf-80db-b4f922a8232d_terseLabel_en-US" xlink:label="lab_dei_EntityAddressAddressLine2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Address, Address Line Two</link:label>
    <link:label id="lab_dei_EntityAddressAddressLine2_label_en-US" xlink:label="lab_dei_EntityAddressAddressLine2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Address, Address Line Two</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityAddressAddressLine2" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntityAddressAddressLine2"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityAddressAddressLine2" xlink:to="lab_dei_EntityAddressAddressLine2" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityFileNumber_019e653b-7ebd-7f41-9576-8df1ae9b4dac_terseLabel_en-US" xlink:label="lab_dei_EntityFileNumber" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity File Number</link:label>
    <link:label id="lab_dei_EntityFileNumber_label_en-US" xlink:label="lab_dei_EntityFileNumber" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity File Number</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityFileNumber" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntityFileNumber"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityFileNumber" xlink:to="lab_dei_EntityFileNumber" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_Security12bTitle_019e653b-7ebd-74d7-bacf-85ad4f0698ae_terseLabel_en-US" xlink:label="lab_dei_Security12bTitle" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Title of 12(b) Security</link:label>
    <link:label id="lab_dei_Security12bTitle_label_en-US" xlink:label="lab_dei_Security12bTitle" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Title of 12(b) Security</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_Security12bTitle" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_Security12bTitle"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_Security12bTitle" xlink:to="lab_dei_Security12bTitle" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntitiesTable_019e653b-7ebd-729f-856e-e88698bd717d_terseLabel_en-US" xlink:label="lab_dei_EntitiesTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entities [Table]</link:label>
    <link:label id="lab_dei_EntitiesTable_label_en-US" xlink:label="lab_dei_EntitiesTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entities [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntitiesTable" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntitiesTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntitiesTable" xlink:to="lab_dei_EntitiesTable" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_LocalPhoneNumber_019e653b-7ebd-7b2b-acfe-353067b0e3b0_terseLabel_en-US" xlink:label="lab_dei_LocalPhoneNumber" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Local Phone Number</link:label>
    <link:label id="lab_dei_LocalPhoneNumber_label_en-US" xlink:label="lab_dei_LocalPhoneNumber" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Local Phone Number</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_LocalPhoneNumber" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_LocalPhoneNumber"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_LocalPhoneNumber" xlink:to="lab_dei_LocalPhoneNumber" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ClassOfStockDomain_019e653b-7ebd-7712-bea6-c743c53702fd_terseLabel_en-US" xlink:label="lab_us-gaap_ClassOfStockDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Class of Stock [Domain]</link:label>
    <link:label id="lab_us-gaap_ClassOfStockDomain_label_en-US" xlink:label="lab_us-gaap_ClassOfStockDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Class of Stock [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ClassOfStockDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ClassOfStockDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ClassOfStockDomain" xlink:to="lab_us-gaap_ClassOfStockDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_SolicitingMaterial_019e653b-7ebd-76dd-9520-eb6e13d39514_terseLabel_en-US" xlink:label="lab_dei_SolicitingMaterial" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Soliciting Material</link:label>
    <link:label id="lab_dei_SolicitingMaterial_label_en-US" xlink:label="lab_dei_SolicitingMaterial" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Soliciting Material</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_SolicitingMaterial" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_SolicitingMaterial"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_SolicitingMaterial" xlink:to="lab_dei_SolicitingMaterial" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityAddressAddressLine1_019e653b-7ebd-75cf-800c-5cdce939723d_terseLabel_en-US" xlink:label="lab_dei_EntityAddressAddressLine1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Address, Address Line One</link:label>
    <link:label id="lab_dei_EntityAddressAddressLine1_label_en-US" xlink:label="lab_dei_EntityAddressAddressLine1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Address, Address Line One</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityAddressAddressLine1" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntityAddressAddressLine1"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityAddressAddressLine1" xlink:to="lab_dei_EntityAddressAddressLine1" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityAddressPostalZipCode_019e653b-7ebd-75aa-a182-d548bf711f79_terseLabel_en-US" xlink:label="lab_dei_EntityAddressPostalZipCode" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Address, Postal Zip Code</link:label>
    <link:label id="lab_dei_EntityAddressPostalZipCode_label_en-US" xlink:label="lab_dei_EntityAddressPostalZipCode" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Address, Postal Zip Code</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityAddressPostalZipCode" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntityAddressPostalZipCode"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityAddressPostalZipCode" xlink:to="lab_dei_EntityAddressPostalZipCode" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityRegistrantName_019e653b-7ebd-72ca-babf-fc34217e5ccf_terseLabel_en-US" xlink:label="lab_dei_EntityRegistrantName" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Registrant Name</link:label>
    <link:label id="lab_dei_EntityRegistrantName_label_en-US" xlink:label="lab_dei_EntityRegistrantName" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Registrant Name</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityRegistrantName" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntityRegistrantName"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityRegistrantName" xlink:to="lab_dei_EntityRegistrantName" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityAddressStateOrProvince_019e653b-7ebd-739d-8a2e-8c099623a7b2_terseLabel_en-US" xlink:label="lab_dei_EntityAddressStateOrProvince" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Address, State or Province</link:label>
    <link:label id="lab_dei_EntityAddressStateOrProvince_label_en-US" xlink:label="lab_dei_EntityAddressStateOrProvince" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Address, State or Province</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityAddressStateOrProvince" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntityAddressStateOrProvince"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityAddressStateOrProvince" xlink:to="lab_dei_EntityAddressStateOrProvince" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_SeriesHPreferredStockMember_019e653b-7ebd-765b-aeaf-756cc4323e0b_terseLabel_en-US" xlink:label="lab_us-gaap_SeriesHPreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Series H Cumulative Redeemable Preferred Shares, $0.01 par value</link:label>
    <link:label id="lab_us-gaap_SeriesHPreferredStockMember_label_en-US" xlink:label="lab_us-gaap_SeriesHPreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Series H Preferred Stock [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SeriesHPreferredStockMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_SeriesHPreferredStockMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SeriesHPreferredStockMember" xlink:to="lab_us-gaap_SeriesHPreferredStockMember" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityIncorporationStateCountryCode_019e653b-7ebd-703f-811e-ea1652addc58_terseLabel_en-US" xlink:label="lab_dei_EntityIncorporationStateCountryCode" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Incorporation, State or Country Code</link:label>
    <link:label id="lab_dei_EntityIncorporationStateCountryCode_label_en-US" xlink:label="lab_dei_EntityIncorporationStateCountryCode" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Incorporation, State or Country Code</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityIncorporationStateCountryCode" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntityIncorporationStateCountryCode"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityIncorporationStateCountryCode" xlink:to="lab_dei_EntityIncorporationStateCountryCode" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_SeriesGPreferredStockMember_019e653b-7ebd-7453-b39c-85f091b33b98_terseLabel_en-US" xlink:label="lab_us-gaap_SeriesGPreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Series G Cumulative Redeemable Preferred Shares, $0.01 par value</link:label>
    <link:label id="lab_us-gaap_SeriesGPreferredStockMember_label_en-US" xlink:label="lab_us-gaap_SeriesGPreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Series G Preferred Stock [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SeriesGPreferredStockMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_SeriesGPreferredStockMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SeriesGPreferredStockMember" xlink:to="lab_us-gaap_SeriesGPreferredStockMember" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_WrittenCommunications_019e653b-7ebd-7a20-a63a-677b372f8805_terseLabel_en-US" xlink:label="lab_dei_WrittenCommunications" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Written Communications</link:label>
    <link:label id="lab_dei_WrittenCommunications_label_en-US" xlink:label="lab_dei_WrittenCommunications" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Written Communications</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_WrittenCommunications" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_WrittenCommunications"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_WrittenCommunications" xlink:to="lab_dei_WrittenCommunications" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityInformationLineItems_019e653b-7ebd-7aad-9e75-333add798e23_terseLabel_en-US" xlink:label="lab_dei_EntityInformationLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Information [Line Items]</link:label>
    <link:label id="lab_dei_EntityInformationLineItems_label_en-US" xlink:label="lab_dei_EntityInformationLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Information [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityInformationLineItems" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntityInformationLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityInformationLineItems" xlink:to="lab_dei_EntityInformationLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_peb_DocumentAndEntityInformationAbstract_019e653b-7ebd-752d-876c-2ad184585dfb_terseLabel_en-US" xlink:label="lab_peb_DocumentAndEntityInformationAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Document And Entity Information [Abstract]</link:label>
    <link:label id="lab_peb_DocumentAndEntityInformationAbstract_label_en-US" xlink:label="lab_peb_DocumentAndEntityInformationAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document And Entity Information [Abstract]</link:label>
    <link:label id="lab_peb_DocumentAndEntityInformationAbstract_documentation_en-US" xlink:label="lab_peb_DocumentAndEntityInformationAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Document And Entity Information [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_peb_DocumentAndEntityInformationAbstract" xlink:href="peb-20260527.xsd#peb_DocumentAndEntityInformationAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_peb_DocumentAndEntityInformationAbstract" xlink:to="lab_peb_DocumentAndEntityInformationAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_TradingSymbol_019e653b-7ebd-769b-989a-987a640650fc_terseLabel_en-US" xlink:label="lab_dei_TradingSymbol" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Trading Symbol</link:label>
    <link:label id="lab_dei_TradingSymbol_label_en-US" xlink:label="lab_dei_TradingSymbol" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Trading Symbol</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_TradingSymbol" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_TradingSymbol"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_TradingSymbol" xlink:to="lab_dei_TradingSymbol" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_CityAreaCode_019e653b-7ebd-7385-bd40-58cdd32c8142_terseLabel_en-US" xlink:label="lab_dei_CityAreaCode" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">City Area Code</link:label>
    <link:label id="lab_dei_CityAreaCode_label_en-US" xlink:label="lab_dei_CityAreaCode" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">City Area Code</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_CityAreaCode" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_CityAreaCode"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_CityAreaCode" xlink:to="lab_dei_CityAreaCode" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_DocumentPeriodEndDate_019e653b-7ebd-7541-9950-17c5c82ee1bb_terseLabel_en-US" xlink:label="lab_dei_DocumentPeriodEndDate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Document Period End Date</link:label>
    <link:label id="lab_dei_DocumentPeriodEndDate_label_en-US" xlink:label="lab_dei_DocumentPeriodEndDate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document Period End Date</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_DocumentPeriodEndDate" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_DocumentPeriodEndDate"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_DocumentPeriodEndDate" xlink:to="lab_dei_DocumentPeriodEndDate" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_PreCommencementIssuerTenderOffer_019e653b-7ebd-780b-a82f-b1acf4577b8d_terseLabel_en-US" xlink:label="lab_dei_PreCommencementIssuerTenderOffer" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Pre-commencement Issuer Tender Offer</link:label>
    <link:label id="lab_dei_PreCommencementIssuerTenderOffer_label_en-US" xlink:label="lab_dei_PreCommencementIssuerTenderOffer" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Pre-commencement Issuer Tender Offer</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_PreCommencementIssuerTenderOffer" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_PreCommencementIssuerTenderOffer"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_PreCommencementIssuerTenderOffer" xlink:to="lab_dei_PreCommencementIssuerTenderOffer" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityAddressCityOrTown_019e653b-7ebd-70b3-aca9-33fad4437f19_terseLabel_en-US" xlink:label="lab_dei_EntityAddressCityOrTown" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Address, City or Town</link:label>
    <link:label id="lab_dei_EntityAddressCityOrTown_label_en-US" xlink:label="lab_dei_EntityAddressCityOrTown" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Address, City or Town</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityAddressCityOrTown" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntityAddressCityOrTown"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityAddressCityOrTown" xlink:to="lab_dei_EntityAddressCityOrTown" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_AmendmentFlag_019e653b-7ebd-70d2-bf8c-30f28c570b1b_terseLabel_en-US" xlink:label="lab_dei_AmendmentFlag" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Amendment Flag</link:label>
    <link:label id="lab_dei_AmendmentFlag_label_en-US" xlink:label="lab_dei_AmendmentFlag" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Amendment Flag</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_AmendmentFlag" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_AmendmentFlag"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_AmendmentFlag" xlink:to="lab_dei_AmendmentFlag" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_SecurityExchangeName_019e653b-7ebd-7575-98d6-87ed1b478618_terseLabel_en-US" xlink:label="lab_dei_SecurityExchangeName" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Security Exchange Name</link:label>
    <link:label id="lab_dei_SecurityExchangeName_label_en-US" xlink:label="lab_dei_SecurityExchangeName" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Security Exchange Name</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_SecurityExchangeName" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_SecurityExchangeName"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_SecurityExchangeName" xlink:to="lab_dei_SecurityExchangeName" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_DocumentType_019e653b-7ebd-762f-9b06-bb0aaf625c83_terseLabel_en-US" xlink:label="lab_dei_DocumentType" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Document Type</link:label>
    <link:label id="lab_dei_DocumentType_label_en-US" xlink:label="lab_dei_DocumentType" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document Type</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_DocumentType" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_DocumentType"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_DocumentType" xlink:to="lab_dei_DocumentType" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_StatementClassOfStockAxis_019e653b-7ebd-701e-bfc9-3e6977eb37f8_terseLabel_en-US" xlink:label="lab_us-gaap_StatementClassOfStockAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Class of Stock [Axis]</link:label>
    <link:label id="lab_us-gaap_StatementClassOfStockAxis_label_en-US" xlink:label="lab_us-gaap_StatementClassOfStockAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Class of Stock [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StatementClassOfStockAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_StatementClassOfStockAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StatementClassOfStockAxis" xlink:to="lab_us-gaap_StatementClassOfStockAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_SeriesFPreferredStockMember_019e653b-7ebd-79b6-ae74-035c687ddb7c_terseLabel_en-US" xlink:label="lab_us-gaap_SeriesFPreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Series F Cumulative Redeemable Preferred Shares, $0.01 par value</link:label>
    <link:label id="lab_us-gaap_SeriesFPreferredStockMember_label_en-US" xlink:label="lab_us-gaap_SeriesFPreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Series F Preferred Stock [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SeriesFPreferredStockMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_SeriesFPreferredStockMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SeriesFPreferredStockMember" xlink:to="lab_us-gaap_SeriesFPreferredStockMember" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_PreCommencementTenderOffer_019e653b-7ebd-7048-b08a-c285078eb609_terseLabel_en-US" xlink:label="lab_dei_PreCommencementTenderOffer" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Pre-commencement Tender Offer</link:label>
    <link:label id="lab_dei_PreCommencementTenderOffer_label_en-US" xlink:label="lab_dei_PreCommencementTenderOffer" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Pre-commencement Tender Offer</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_PreCommencementTenderOffer" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_PreCommencementTenderOffer"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_PreCommencementTenderOffer" xlink:to="lab_dei_PreCommencementTenderOffer" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityCentralIndexKey_019e653b-7ebd-7cd2-a985-b8656808d5a9_terseLabel_en-US" xlink:label="lab_dei_EntityCentralIndexKey" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Central Index Key</link:label>
    <link:label id="lab_dei_EntityCentralIndexKey_label_en-US" xlink:label="lab_dei_EntityCentralIndexKey" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Central Index Key</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityCentralIndexKey" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntityCentralIndexKey"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityCentralIndexKey" xlink:to="lab_dei_EntityCentralIndexKey" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityEmergingGrowthCompany_019e653b-7ebd-72a5-b7b9-0caafb38879c_terseLabel_en-US" xlink:label="lab_dei_EntityEmergingGrowthCompany" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Emerging Growth Company</link:label>
    <link:label id="lab_dei_EntityEmergingGrowthCompany_label_en-US" xlink:label="lab_dei_EntityEmergingGrowthCompany" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Emerging Growth Company</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityEmergingGrowthCompany" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntityEmergingGrowthCompany"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityEmergingGrowthCompany" xlink:to="lab_dei_EntityEmergingGrowthCompany" xlink:type="arc" order="1"/>
  </link:labelLink>
</link:linkbase>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.PRE
<SEQUENCE>5
<FILENAME>peb-20260527_pre.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE DOCUMENT
<TEXT>
<XBRL>
<?xml version="1.0" encoding="UTF-8"?>

<!--XBRL Document Created with the Workiva Platform-->
<!--Copyright 2026 Workiva-->
<!--r:019e653b-7ebd-745c-b120-1338c514a692,g:6afc0e1c-b05e-4d88-9737-10935c106c64-->
<link:linkbase xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd">
  <link:roleRef roleURI="http://www.pebblebrookhotels.com/role/DocumentandEntityInformationDocument" xlink:type="simple" xlink:href="peb-20260527.xsd#DocumentandEntityInformationDocument"/>
  <link:presentationLink xlink:role="http://www.pebblebrookhotels.com/role/DocumentandEntityInformationDocument" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="loc_peb_DocumentAndEntityInformationAbstract_019e653b-7ebd-7339-845f-68a136cafff7" xlink:href="peb-20260527.xsd#peb_DocumentAndEntityInformationAbstract"/>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntitiesTable_019e653b-7ebd-7698-ba9d-611a2535eb80" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntitiesTable"/>
    <link:presentationArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peb_DocumentAndEntityInformationAbstract_019e653b-7ebd-7339-845f-68a136cafff7" xlink:to="loc_dei_EntitiesTable_019e653b-7ebd-7698-ba9d-611a2535eb80" xlink:type="arc" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StatementClassOfStockAxis_019e653b-7ebd-7133-9939-b064b9fcad02" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_StatementClassOfStockAxis"/>
    <link:presentationArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_dei_EntitiesTable_019e653b-7ebd-7698-ba9d-611a2535eb80" xlink:to="loc_us-gaap_StatementClassOfStockAxis_019e653b-7ebd-7133-9939-b064b9fcad02" xlink:type="arc" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ClassOfStockDomain_019e653b-7ebd-7f77-b9a5-ba07a32e48a3" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ClassOfStockDomain"/>
    <link:presentationArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementClassOfStockAxis_019e653b-7ebd-7133-9939-b064b9fcad02" xlink:to="loc_us-gaap_ClassOfStockDomain_019e653b-7ebd-7f77-b9a5-ba07a32e48a3" xlink:type="arc" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CommonStockMember_019e653b-7ebd-7dd9-bd97-d44c189ef9c7" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_CommonStockMember"/>
    <link:presentationArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ClassOfStockDomain_019e653b-7ebd-7f77-b9a5-ba07a32e48a3" xlink:to="loc_us-gaap_CommonStockMember_019e653b-7ebd-7dd9-bd97-d44c189ef9c7" xlink:type="arc" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SeriesEPreferredStockMember_019e653b-7ebd-75d0-9982-9d39895245a3" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_SeriesEPreferredStockMember"/>
    <link:presentationArc order="2" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ClassOfStockDomain_019e653b-7ebd-7f77-b9a5-ba07a32e48a3" xlink:to="loc_us-gaap_SeriesEPreferredStockMember_019e653b-7ebd-75d0-9982-9d39895245a3" xlink:type="arc" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SeriesFPreferredStockMember_019e653b-7ebd-7ced-9fc6-f45c6084551b" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_SeriesFPreferredStockMember"/>
    <link:presentationArc order="3" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ClassOfStockDomain_019e653b-7ebd-7f77-b9a5-ba07a32e48a3" xlink:to="loc_us-gaap_SeriesFPreferredStockMember_019e653b-7ebd-7ced-9fc6-f45c6084551b" xlink:type="arc" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SeriesGPreferredStockMember_019e653b-7ebd-73bf-8fbc-fed5428356e9" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_SeriesGPreferredStockMember"/>
    <link:presentationArc order="4" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ClassOfStockDomain_019e653b-7ebd-7f77-b9a5-ba07a32e48a3" xlink:to="loc_us-gaap_SeriesGPreferredStockMember_019e653b-7ebd-73bf-8fbc-fed5428356e9" xlink:type="arc" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SeriesHPreferredStockMember_019e653b-7ebd-7c18-9a9d-fa1ffbe44208" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_SeriesHPreferredStockMember"/>
    <link:presentationArc order="5" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ClassOfStockDomain_019e653b-7ebd-7f77-b9a5-ba07a32e48a3" xlink:to="loc_us-gaap_SeriesHPreferredStockMember_019e653b-7ebd-7c18-9a9d-fa1ffbe44208" xlink:type="arc" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityInformationLineItems_019e653b-7ebd-79c3-9587-4910032c0617" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntityInformationLineItems"/>
    <link:presentationArc order="2" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_dei_EntitiesTable_019e653b-7ebd-7698-ba9d-611a2535eb80" xlink:to="loc_dei_EntityInformationLineItems_019e653b-7ebd-79c3-9587-4910032c0617" xlink:type="arc" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <link:loc xlink:type="locator" xlink:label="loc_dei_DocumentType_019e653b-7ebd-7721-bc46-b507bcbf397e" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_DocumentType"/>
    <link:presentationArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_dei_EntityInformationLineItems_019e653b-7ebd-79c3-9587-4910032c0617" xlink:to="loc_dei_DocumentType_019e653b-7ebd-7721-bc46-b507bcbf397e" xlink:type="arc" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <link:loc xlink:type="locator" xlink:label="loc_dei_AmendmentFlag_019e653b-7ebd-701e-b025-b1fd524c42f4" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_AmendmentFlag"/>
    <link:presentationArc order="2" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_dei_EntityInformationLineItems_019e653b-7ebd-79c3-9587-4910032c0617" xlink:to="loc_dei_AmendmentFlag_019e653b-7ebd-701e-b025-b1fd524c42f4" xlink:type="arc" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <link:loc xlink:type="locator" xlink:label="loc_dei_DocumentPeriodEndDate_019e653b-7ebd-7188-b270-ee4da304b612" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_DocumentPeriodEndDate"/>
    <link:presentationArc order="3" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_dei_EntityInformationLineItems_019e653b-7ebd-79c3-9587-4910032c0617" xlink:to="loc_dei_DocumentPeriodEndDate_019e653b-7ebd-7188-b270-ee4da304b612" xlink:type="arc" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityRegistrantName_019e653b-7ebd-75df-b2aa-11ae40a19f87" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntityRegistrantName"/>
    <link:presentationArc order="4" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_dei_EntityInformationLineItems_019e653b-7ebd-79c3-9587-4910032c0617" xlink:to="loc_dei_EntityRegistrantName_019e653b-7ebd-75df-b2aa-11ae40a19f87" xlink:type="arc" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityCentralIndexKey_019e653b-7ebd-783c-8904-6afb1be21d61" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntityCentralIndexKey"/>
    <link:presentationArc order="5" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_dei_EntityInformationLineItems_019e653b-7ebd-79c3-9587-4910032c0617" xlink:to="loc_dei_EntityCentralIndexKey_019e653b-7ebd-783c-8904-6afb1be21d61" xlink:type="arc" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityIncorporationStateCountryCode_019e653b-7ebd-78be-8a72-2c3bbbd6f5f5" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntityIncorporationStateCountryCode"/>
    <link:presentationArc order="6" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_dei_EntityInformationLineItems_019e653b-7ebd-79c3-9587-4910032c0617" xlink:to="loc_dei_EntityIncorporationStateCountryCode_019e653b-7ebd-78be-8a72-2c3bbbd6f5f5" xlink:type="arc" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityFileNumber_019e653b-7ebd-786b-a845-449ab03e84fa" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntityFileNumber"/>
    <link:presentationArc order="7" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_dei_EntityInformationLineItems_019e653b-7ebd-79c3-9587-4910032c0617" xlink:to="loc_dei_EntityFileNumber_019e653b-7ebd-786b-a845-449ab03e84fa" xlink:type="arc" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityTaxIdentificationNumber_019e653b-7ebd-76f5-8781-0e2f2e2e791a" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntityTaxIdentificationNumber"/>
    <link:presentationArc order="8" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_dei_EntityInformationLineItems_019e653b-7ebd-79c3-9587-4910032c0617" xlink:to="loc_dei_EntityTaxIdentificationNumber_019e653b-7ebd-76f5-8781-0e2f2e2e791a" xlink:type="arc" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityAddressAddressLine1_019e653b-7ebd-7b4b-9db7-0c6beab62a16" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntityAddressAddressLine1"/>
    <link:presentationArc order="9" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_dei_EntityInformationLineItems_019e653b-7ebd-79c3-9587-4910032c0617" xlink:to="loc_dei_EntityAddressAddressLine1_019e653b-7ebd-7b4b-9db7-0c6beab62a16" xlink:type="arc" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityAddressAddressLine2_019e653b-7ebd-7f3a-b4d7-8a2adfdf6459" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntityAddressAddressLine2"/>
    <link:presentationArc order="10" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_dei_EntityInformationLineItems_019e653b-7ebd-79c3-9587-4910032c0617" xlink:to="loc_dei_EntityAddressAddressLine2_019e653b-7ebd-7f3a-b4d7-8a2adfdf6459" xlink:type="arc" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityAddressCityOrTown_019e653b-7ebd-7ab8-b464-abf71af9f9e4" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntityAddressCityOrTown"/>
    <link:presentationArc order="11" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_dei_EntityInformationLineItems_019e653b-7ebd-79c3-9587-4910032c0617" xlink:to="loc_dei_EntityAddressCityOrTown_019e653b-7ebd-7ab8-b464-abf71af9f9e4" xlink:type="arc" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityAddressStateOrProvince_019e653b-7ebd-7c4c-882e-36204b66c3a9" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntityAddressStateOrProvince"/>
    <link:presentationArc order="12" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_dei_EntityInformationLineItems_019e653b-7ebd-79c3-9587-4910032c0617" xlink:to="loc_dei_EntityAddressStateOrProvince_019e653b-7ebd-7c4c-882e-36204b66c3a9" xlink:type="arc" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityAddressPostalZipCode_019e653b-7ebd-7c15-a945-f8a1d4ad22f5" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntityAddressPostalZipCode"/>
    <link:presentationArc order="13" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_dei_EntityInformationLineItems_019e653b-7ebd-79c3-9587-4910032c0617" xlink:to="loc_dei_EntityAddressPostalZipCode_019e653b-7ebd-7c15-a945-f8a1d4ad22f5" xlink:type="arc" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <link:loc xlink:type="locator" xlink:label="loc_dei_CityAreaCode_019e653b-7ebd-74a5-9ba8-0094f3d870fd" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_CityAreaCode"/>
    <link:presentationArc order="14" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_dei_EntityInformationLineItems_019e653b-7ebd-79c3-9587-4910032c0617" xlink:to="loc_dei_CityAreaCode_019e653b-7ebd-74a5-9ba8-0094f3d870fd" xlink:type="arc" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <link:loc xlink:type="locator" xlink:label="loc_dei_LocalPhoneNumber_019e653b-7ebd-7b85-adfc-3ab58bfa4e2a" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_LocalPhoneNumber"/>
    <link:presentationArc order="15" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_dei_EntityInformationLineItems_019e653b-7ebd-79c3-9587-4910032c0617" xlink:to="loc_dei_LocalPhoneNumber_019e653b-7ebd-7b85-adfc-3ab58bfa4e2a" xlink:type="arc" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <link:loc xlink:type="locator" xlink:label="loc_dei_WrittenCommunications_019e653b-7ebd-74f8-8576-d59ff3f9d619" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_WrittenCommunications"/>
    <link:presentationArc order="16" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_dei_EntityInformationLineItems_019e653b-7ebd-79c3-9587-4910032c0617" xlink:to="loc_dei_WrittenCommunications_019e653b-7ebd-74f8-8576-d59ff3f9d619" xlink:type="arc" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <link:loc xlink:type="locator" xlink:label="loc_dei_SolicitingMaterial_019e653b-7ebd-70de-bf49-dc6a3bd2d67b" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_SolicitingMaterial"/>
    <link:presentationArc order="17" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_dei_EntityInformationLineItems_019e653b-7ebd-79c3-9587-4910032c0617" xlink:to="loc_dei_SolicitingMaterial_019e653b-7ebd-70de-bf49-dc6a3bd2d67b" xlink:type="arc" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <link:loc xlink:type="locator" xlink:label="loc_dei_PreCommencementTenderOffer_019e653b-7ebd-75bd-a4db-98268af8f597" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_PreCommencementTenderOffer"/>
    <link:presentationArc order="18" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_dei_EntityInformationLineItems_019e653b-7ebd-79c3-9587-4910032c0617" xlink:to="loc_dei_PreCommencementTenderOffer_019e653b-7ebd-75bd-a4db-98268af8f597" xlink:type="arc" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <link:loc xlink:type="locator" xlink:label="loc_dei_PreCommencementIssuerTenderOffer_019e653b-7ebd-7059-b516-f6970841a39a" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_PreCommencementIssuerTenderOffer"/>
    <link:presentationArc order="19" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_dei_EntityInformationLineItems_019e653b-7ebd-79c3-9587-4910032c0617" xlink:to="loc_dei_PreCommencementIssuerTenderOffer_019e653b-7ebd-7059-b516-f6970841a39a" xlink:type="arc" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <link:loc xlink:type="locator" xlink:label="loc_dei_Security12bTitle_019e653b-7ebd-71a7-95ed-b61b4b5ae473" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_Security12bTitle"/>
    <link:presentationArc order="20" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_dei_EntityInformationLineItems_019e653b-7ebd-79c3-9587-4910032c0617" xlink:to="loc_dei_Security12bTitle_019e653b-7ebd-71a7-95ed-b61b4b5ae473" xlink:type="arc" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <link:loc xlink:type="locator" xlink:label="loc_dei_TradingSymbol_019e653b-7ebd-7fb6-b273-0551e17bd11e" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_TradingSymbol"/>
    <link:presentationArc order="21" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_dei_EntityInformationLineItems_019e653b-7ebd-79c3-9587-4910032c0617" xlink:to="loc_dei_TradingSymbol_019e653b-7ebd-7fb6-b273-0551e17bd11e" xlink:type="arc" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <link:loc xlink:type="locator" xlink:label="loc_dei_SecurityExchangeName_019e653b-7ebd-72a4-a9c6-375e513fc23d" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_SecurityExchangeName"/>
    <link:presentationArc order="22" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_dei_EntityInformationLineItems_019e653b-7ebd-79c3-9587-4910032c0617" xlink:to="loc_dei_SecurityExchangeName_019e653b-7ebd-72a4-a9c6-375e513fc23d" xlink:type="arc" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityEmergingGrowthCompany_019e653b-7ebd-7230-8540-7c44c6c6b615" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntityEmergingGrowthCompany"/>
    <link:presentationArc order="23" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_dei_EntityInformationLineItems_019e653b-7ebd-79c3-9587-4910032c0617" xlink:to="loc_dei_EntityEmergingGrowthCompany_019e653b-7ebd-7230-8540-7c44c6c6b615" xlink:type="arc" preferredLabel="http://www.xbrl.org/2003/role/terseLabel"/>
  </link:presentationLink>
</link:linkbase>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>6
<FILENAME>peb052826chamberlainsaleex.htm
<DESCRIPTION>EX-99.1
<TEXT>
<html><head>
<!-- Document created using Wdesk -->
<!-- Copyright 2026 Workiva -->
<title>Document</title></head><body><div id="i13aff586561c44589cefc8ed9e96e687_1"></div><div style="min-height:72pt;width:100%"><div style="text-align:right"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:120%">Exhibit 99.1</font></div><div><img alt="image0a25.jpg" src="image0a25.jpg" style="height:113px;margin-bottom:5pt;vertical-align:text-bottom;width:137px"></div></div><div style="text-align:right;text-indent:36pt"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:8pt;font-weight:400;line-height:120%">4747 Bethesda Avenue, Suite 1100, Bethesda, MD 20814</font></div><div style="text-align:right"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:8pt;font-weight:400;line-height:120%">T&#58; (240) 507-1300, F&#58; (240) 396-5626</font></div><div style="text-align:right"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:8pt;font-weight:400;line-height:120%">www.pebblebrookhotels.com</font></div><div style="margin-top:5pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr style="height:5pt"><td colspan="3" style="border-bottom:2pt solid #000000;padding:0 1pt"></td></tr></table></div><div style="margin-top:5pt;text-align:right"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:16pt;font-weight:700;line-height:115%">News Release</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:112%"> </font></div><div style="text-align:center"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:10pt;font-weight:700;line-height:112%">PEBBLEBROOK HOTEL TRUST COMPLETES $43.5 MILLION SALE OF CHAMBERLAIN WEST HOLLYWOOD HOTEL</font></div><div style="text-align:center"><font><br></font></div><div style="margin-bottom:6pt;margin-top:6pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9.5pt;font-weight:700;line-height:112%">BETHESDA, MD, MAY 28, 2026 &#8211;</font><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9.5pt;font-weight:400;line-height:112%"> Pebblebrook Hotel Trust (NYSE&#58; PEB) (the &#8220;Company&#8221; or &#8220;Pebblebrook&#8221;) announced today that on May 27, 2026, it successfully completed the sale of the 115-room Chamberlain West Hollywood Hotel (&#8220;Chamberlain&#8221;) in Los Angeles, California for $43.5 million to a third party.</font></div><div style="margin-bottom:6pt;margin-top:6pt;text-align:justify"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9.5pt;font-weight:400;line-height:112%">            For the trailing twelve months ended April 30, 2026, the hotel generated earnings before interest, taxes, depreciation, and amortization (&#8220;EBITDA&#8221;) of $3.0 million and net operating income (&#8220;NOI&#8221;) of $2.6 million, assuming a capital reserve of 4.0% of total hotel revenues. The $43.5 million sales price equates to a 14.5x EBITDA multiple and a 5.9% NOI capitalization rate.</font></div><div style="text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9.5pt;font-weight:400;line-height:112%">Pebblebrook expects to use the sale proceeds for general corporate purposes, with a primary focus on reducing outstanding net debt and preferred equity, opportunistically repurchasing the Company&#8217;s common shares, and supporting other high-return capital allocation priorities intended to enhance long-term shareholder value.</font></div><div style="text-align:justify;text-indent:36pt"><font><br></font></div><div style="text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9.5pt;font-weight:400;line-height:112%">Including this transaction and the two strategic dispositions completed in the fourth quarter of 2025, Pebblebrook has completed approximately $160 million of asset sales at attractive private-market values, representing an aggregate 15.4x EBITDA multiple and 4.6% NOI capitalization rate. Since 2021, Pebblebrook has sold over $1.0 billion of properties, demonstrating its continued ability to monetize assets at private-market values and allocate capital toward debt reduction, accretive preferred and common share repurchases and other high-return uses.</font></div><div style="text-align:justify;text-indent:36pt"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9.5pt;font-weight:700;line-height:112%;text-decoration:underline">Balance Sheet Impact</font></div><div style="text-align:justify;text-indent:36pt"><font><br></font></div><div style="text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9.5pt;font-weight:400;line-height:112%">In connection with the sale, the Company accepted Pebblebrook preferred shares with an aggregate liquidation preference of $33.7 million as partial consideration from the buyer, at an agreed value of approximately $26.1 million. This enabled the Company to retire these preferred shares at a 23% discount to their liquidation preference, further reducing preferred equity outstanding to $720.6 million. </font></div><div style="text-align:justify;text-indent:36pt"><font><br></font></div><div style="text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9.5pt;font-weight:400;line-height:112%">Since late 2025, Pebblebrook has continued its disciplined capital allocation strategy, using net property sales proceeds and free operating cash flow to strengthen its balance sheet and increase long-term per-share value. Over this period, the Company has reduced outstanding debt by nearly $160 million, retired preferred shares with an aggregate liquidation preference of $47 million at an average discount of 23%, and repurchased $62 million of common shares, representing 5.4 million shares at an average price of $11.51 per share. These actions have enhanced financial flexibility, reduced debt and preferred equity obligations, and increased long-term value per share.</font></div><div style="text-align:justify;text-indent:36pt"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9.5pt;font-weight:700;line-height:112%;text-decoration:underline">Updated 2026 Outlook</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9.5pt;font-weight:400;line-height:112%">To account for the property disposition, Pebblebrook has updated its prior second-quarter and full-year 2026 Outlook, previously provided on April 28, 2026. The Chamberlain has been removed from the Company&#8217;s Q2 through Q4 2026 Same-Property Hotel EBITDA and operating metrics, but its EBITDA from operations through the sale date will continue to be included in Adjusted EBITDA</font><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9.5pt;font-style:italic;font-weight:400;line-height:112%">re</font><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9.5pt;font-weight:400;line-height:112%">. </font></div><div style="margin-bottom:6pt;margin-top:6pt;text-align:justify;text-indent:36pt"><font><br></font></div><div style="margin-bottom:6pt;margin-top:6pt;text-align:justify;text-indent:36pt"><font><br></font></div><div style="margin-bottom:6pt;margin-top:6pt;text-align:justify;text-indent:36pt"><font><br></font></div><div style="margin-bottom:6pt;margin-top:6pt;text-align:justify;text-indent:36pt"><font><br></font></div><div style="margin-bottom:6pt;margin-top:6pt;text-align:justify;text-indent:36pt"><font><br></font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div></div><div style="margin-bottom:6pt;margin-top:6pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:2.025%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:50.536%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.870%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.395%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.870%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.139%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.763%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.395%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.209%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.398%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="12" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:36pt;text-align:justify"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-weight:700;line-height:115%">The Company&#8217;s revised 2026 Outlook is as follows&#58;</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:5pt;text-align:center"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-weight:700;line-height:100%;text-decoration:underline">2026 Outlook</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-style:italic;font-weight:700;line-height:100%;text-decoration:underline">Variance to Prior Outlook</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:7pt;font-weight:400;line-height:100%">As of 5&#47;28&#47;26</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:100%">Var to 4&#47;28&#47;26</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="21" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:7pt;font-weight:400;line-height:100%">($ in millions, except per share data)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Low</font></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-weight:700;line-height:100%">High</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-style:italic;font-weight:700;line-height:100%">Low</font></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-style:italic;font-weight:700;line-height:100%">High</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Net Income&#47;(loss)</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-weight:400;line-height:100%">($8.2)</font></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$3.8</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:100%">($2.2)</font></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:100%">($2.2)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-weight:400;line-height:115%">Adjusted EBITDA</font><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:115%">re</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$334.5</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$346.5</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:100%">($1.5)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:100%">($1.5)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-weight:400;line-height:115%">Distribution to preferred shareholders and unit holders</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$44.9</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$44.9</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:100%">($1.5)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:100%">($1.5)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-weight:400;line-height:115%">Adjusted FFO</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$184.0</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$196.0</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-weight:400;line-height:115%">Adjusted FFO per diluted share</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$1.60</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$1.70</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:5pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="27" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:36pt;text-align:justify"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-weight:700;line-height:112%">This 2026 Outlook is based, in part, on the following estimates and assumptions&#58; </font></div></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-weight:700;line-height:100%;text-decoration:underline">2026 Outlook</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-style:italic;font-weight:700;line-height:100%;text-decoration:underline">Variance to Prior Outlook</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:7pt;font-weight:400;line-height:100%">As of 5&#47;28&#47;26</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:100%">Var to 4&#47;28&#47;26</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="21" style="padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:7pt;font-weight:400;line-height:100%">($ in millions)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Low</font></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-weight:700;line-height:100%">High</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-style:italic;font-weight:700;line-height:100%">Low</font></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-style:italic;font-weight:700;line-height:100%">High</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:100%">U.S. Hotel Industry RevPAR Growth Rate</font></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:100%">0.0</font></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:100%">2.0</font></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:100%">Same-Property RevPAR variance vs. 2025</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:100%">2.75</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:100%">4.75</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:100%">Same-Property Total RevPAR variance vs. 2025</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:100%">3.0</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:100%">5.0</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:3pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:100%">Same-Property Total Revenue variance vs. 2025</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:100%">3.1</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:100%">5.0</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:100%">Same-Property Total Expense variance vs. 2025</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:100%">2.4</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:100%">3.8</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:3pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Same-Property Hotel EBITDA</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$366.5</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$378.5</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:100%">($2.5)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:100%">($2.5)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:3pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:2.025%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:50.536%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.870%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.395%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.870%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.139%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.763%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.395%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.209%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.398%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="27" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:36pt;text-align:justify"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-weight:700;line-height:112%">The Company&#8217;s revised Q2 2026 Outlook is as follows&#58;</font></div></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-weight:700;line-height:100%;text-decoration:underline">Q2 2026 Outlook</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-style:italic;font-weight:700;line-height:100%;text-decoration:underline">Variance to Prior Outlook</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:7pt;font-weight:400;line-height:100%">As of 5&#47;28&#47;26</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:100%">Var to 4&#47;28&#47;26</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="21" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:7pt;font-weight:400;line-height:100%">($ in millions, except per share data)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Low</font></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-weight:700;line-height:100%">High</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-style:italic;font-weight:700;line-height:100%">Low</font></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-style:italic;font-weight:700;line-height:100%">High</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Net Income</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$18.8</font></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$22.8</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:100%">($0.7)</font></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:100%">($0.7)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-weight:400;line-height:115%">Adjusted EBITDA</font><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:115%">re</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$106.0</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$110.0</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-weight:400;line-height:115%">Distribution to preferred shareholders and unit holders</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$11.1</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$11.1</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:100%">($0.5)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:100%">($0.5)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-weight:400;line-height:115%">Adjusted FFO</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$67.5</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$71.5</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:100%">$0.5</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:100%">$0.5</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-weight:400;line-height:115%">Adjusted FFO per diluted share</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$0.58</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$0.62</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:6pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:2.025%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:50.536%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.870%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.395%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.870%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.139%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.763%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.395%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.209%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.398%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="27" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:36pt;text-align:justify"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-weight:700;line-height:112%">This Q2 2026 Outlook is based, in part, on the following estimates and assumptions&#58;</font></div></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-weight:700;line-height:100%;text-decoration:underline">Q2 2026 Outlook</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-style:italic;font-weight:700;line-height:100%;text-decoration:underline">Variance to Prior Outlook</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:7pt;font-weight:400;line-height:100%">As of 5&#47;28&#47;26</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:100%">Var to 4&#47;28&#47;26</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="21" style="padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:7pt;font-weight:400;line-height:100%">($ in millions, except RevPAR)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Low</font></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-weight:700;line-height:100%">High</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-style:italic;font-weight:700;line-height:100%">Low</font></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-style:italic;font-weight:700;line-height:100%">High</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Same-Property RevPAR</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$246</font></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$251</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:100%">$1</font></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:100%">$1</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:100%">Same-Property RevPAR variance vs. 2025</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:100%">1.0</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:100%">3.0</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:100%">Same-Property Total RevPAR variance vs. 2025</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:100%">1.0</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:100%">3.0</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:3pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:100%">Same-Property Total Revenue variance vs. 2025</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:100%">1.0</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:100%">3.0</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:100%">Same-Property Total Expense variance vs. 2025</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:100%">2.3</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:100%">3.8</font></td><td style="padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:3pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Same-Property Hotel EBITDA</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$112.7</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$116.7</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:100%">($0.8)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:100%">($0.8)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:3pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="24" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:9pt;text-align:justify"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:115%">Note&#58; See tables later in this press release for a description of Same-Property information and reconciliations from net income (loss) to non-GAAP financial measures, including Earnings Before Interest, Taxes, Depreciation, and Amortization (&#8220;EBITDA&#8221;), EBITDA for Real Estate (&#8220;EBITDAre&#8221;), Adjusted EBITDAre, Funds from Operations (&#8220;FFO&#8221;), FFO per diluted share, Adjusted FFO, and Adjusted FFO per diluted share.</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:115%">&#160;</font></div><div style="text-align:justify"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:right"><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div style="text-indent:36pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:86.151%"><tr><td style="width:1.0%"></td><td style="width:28.202%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:28.202%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:40.296%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="3" style="border-bottom:2pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt solid #000;padding:0 1pt"></td></tr></table></div><div style="text-align:justify;text-indent:36pt"><img alt="peblogo.jpg" src="peblogo.jpg" style="height:39px;margin-bottom:5pt;vertical-align:text-bottom;width:105px"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:120%">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;        </font><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Page 2</font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div></div><div style="margin-bottom:6pt;margin-top:6pt;text-align:justify"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9.5pt;font-weight:700;line-height:112%">About Pebblebrook Hotel Trust</font></div><div style="text-indent:36pt"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9.5pt;font-weight:400;line-height:115%">Pebblebrook Hotel Trust (NYSE&#58; PEB) is a publicly traded real estate investment trust (&#8220;REIT&#8221;) and the largest owner of urban and resort lifestyle hotels in the United States. The Company owns 43 hotels, totaling approximately 10,900 guest rooms across 13 urban and resort markets. For more information,  visit www.pebblebrookhotels.com and follow &#64;PebblebrookPEB.</font></div><div style="margin-bottom:6pt;margin-top:6pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9.5pt;font-style:italic;font-weight:400;line-height:112%">This press release contains certain &#8220;forward-looking statements&#8221; made pursuant to the safe harbor provisions of the Private Securities Reform Act of 1995. Forward-looking statements are generally identifiable by the use of forward-looking terminology such as &#8220;estimated&#8221; and &#8220;will&#8221; 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. The intended use of proceeds and the amounts comprising the updated 2026 Outlook are forward-looking statements. These forward-looking statements are subject to various risks and uncertainties, many of which are beyond the Company&#8217;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, the operating performance of our hotels and the supply of hotel properties, and other factors as are described in greater detail in the Company&#8217;s filings with the Securities and Exchange Commission, including, without limitation, the Company&#8217;s Annual Report on Form 10-K for the year ended December 31, 2025. 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.</font></div><div style="margin-bottom:6pt;margin-top:6pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9.5pt;font-style:italic;font-weight:400;line-height:112%">For further information about the Company&#8217;s business and financial results, please refer to the &#8220;Management&#8217;s Discussion and Analysis of Financial Condition and Results of Operations&#8221; and &#8220;Risk Factors&#8221; sections of the Company&#8217;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&#8217;s website at www.pebblebrookhotels.com.</font></div><div style="margin-bottom:6pt;margin-top:6pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9.5pt;font-style:italic;font-weight:400;line-height:112%">All information in this press release is as of May 28, 2026. 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&#8217;s expectations.</font></div><div style="margin-bottom:6pt;margin-top:6pt;text-align:justify;text-indent:36pt"><font><br></font></div><div style="margin-top:6pt;text-align:center"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9.5pt;font-weight:700;line-height:112%">###</font></div><div style="text-align:center;text-indent:36pt"><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9.5pt;font-weight:700;line-height:112%;text-decoration:underline">Contacts&#58;</font></div><div><font><br></font></div><div style="margin-bottom:6pt;text-align:center"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9.5pt;font-weight:400;line-height:112%">Raymond D. Martz, Co-President and Chief Financial Officer, Pebblebrook Hotel Trust - (240) 507-1330</font></div><div style="margin-top:6pt;text-align:center"><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:7.5pt;font-style:italic;font-weight:400;line-height:112%">For additional information or to receive press releases via email, please visit www.pebblebrookhotels.com</font></div><div><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:right"><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div style="text-indent:36pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:86.151%"><tr><td style="width:1.0%"></td><td style="width:28.202%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:28.202%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:40.296%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="3" style="border-bottom:2pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt solid #000;padding:0 1pt"></td></tr></table></div><div style="text-align:justify;text-indent:36pt"><img alt="peblogo.jpg" src="peblogo.jpg" style="height:39px;margin-bottom:5pt;vertical-align:text-bottom;width:105px"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:120%">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;        </font><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Page 3</font></div></div></div><div id="i13aff586561c44589cefc8ed9e96e687_4"></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:65.269%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:32.531%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:700;line-height:100%">Pebblebrook Hotel Trust</font></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:700;line-height:100%">Chamberlain West Hollywood Hotel</font></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:700;line-height:100%">Reconciliation of Hotel Net Income to Hotel EBITDA and Hotel Net Operating Income</font></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:700;line-height:100%">April 2026 Trailing Twelve Months</font></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:100%">(Unaudited, in millions)</font></td></tr><tr style="height:5pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr style="height:14pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Twelve Months Ended</font></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">April 30,</font></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2026</font></td></tr><tr style="height:8pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Hotel net income</font></td><td colspan="3" style="padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$1.2</font></td></tr><tr style="height:15pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Adjustment&#58;</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;&#160;Depreciation and amortization</font></td><td colspan="3" style="padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1.8</font></td></tr><tr style="height:15pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Hotel EBITDA</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$3.0</font></td></tr><tr style="height:15pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:3pt double #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Adjustment&#58;</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;&#160;Capital Reserve  </font></td><td colspan="3" style="padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(0.4)</font></td></tr><tr style="height:15pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Hotel Net Operating Income</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$2.6</font></td></tr><tr style="height:15pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:3pt double #000;padding:0 1pt"></td></tr><tr style="height:24pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="margin-bottom:6pt;margin-top:6pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:112%">This press release includes certain non-GAAP financial measures as defined under Securities and Exchange Commission (SEC) rules. These measures are not in accordance with, or an alternative to, measures prepared in accordance with U.S. generally accepted accounting principles, or GAAP, and may be different from non-GAAP measures used by other companies. In addition, these non-GAAP measures are not based on any comprehensive set of accounting rules or principles. Non-GAAP measures have limitations in that they do not reflect all of the amounts associated with the hotel&#8217;s results of operations determined in accordance with GAAP. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:100%">The Company has presented estimated trailing twelve-month hotel EBITDA and estimated trailing twelve-month hotel net operating income after capital reserves because it believes these measures provide investors and analysts with an understanding of the hotel-level operating performance. These non-GAAP measures do not represent amounts available for management&#8217;s discretionary use, because of needed capital replacement or expansion, debt service obligations or other commitments and uncertainties, nor are they indicative of funds available to fund the Company&#8217;s cash needs, including its ability to make distributions.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:100%">The Company&#8217;s presentation of the hotel&#8217;s estimated trailing twelve-month EBITDA and estimated trailing twelve-month net operating income after capital reserves should not be considered as an alternative to net income (computed in accordance with GAAP) as an indicator of the hotel&#8217;s financial performance. The table above is a reconciliation of the hotel&#8217;s estimated trailing twelve-month EBITDA and net operating income after capital reserves calculations to net income in accordance with GAAP. Any differences are a result of rounding.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div></td></tr></table></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:right"><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div style="text-indent:36pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:86.151%"><tr><td style="width:1.0%"></td><td style="width:28.202%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:28.202%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:40.296%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="3" style="border-bottom:2pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt solid #000;padding:0 1pt"></td></tr></table></div><div style="text-align:justify;text-indent:36pt"><img alt="peblogo.jpg" src="peblogo.jpg" style="height:39px;margin-bottom:5pt;vertical-align:text-bottom;width:105px"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:120%">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;        </font><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Page 4</font></div></div></div><div id="i13aff586561c44589cefc8ed9e96e687_7"></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:98.958%"><tr><td style="width:1.0%"></td><td style="width:48.975%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.930%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.401%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.930%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.401%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.930%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.401%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.932%"></td><td style="width:0.1%"></td></tr><tr><td colspan="24" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Pebblebrook Hotel Trust</font></td></tr><tr><td colspan="24" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Reconciliation of Q2 2026 and Full Year 2026 Outlook Net Income to FFO and Adjusted FFO</font></td></tr><tr><td colspan="24" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(in millions, except per share data)</font></td></tr><tr><td colspan="24" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(Unaudited)</font></td></tr><tr style="height:5pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Three months ending <br>June 30, 2026</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Year ending <br>December 31, 2026</font></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Low</font></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">High</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Low</font></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">High</font></td></tr><tr style="height:5pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Net income (loss)</font></td><td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$</font></td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">19</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$</font></td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">23</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$</font></td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(8)</font></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$</font></td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">4</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Adjustments&#58;</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Real estate depreciation and amortization</font></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">49&#160;</font></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">49&#160;</font></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">196&#160;</font></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">196&#160;</font></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Impairment</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">FFO</font></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$</font></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">69</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$</font></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">73</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$</font></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">196</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$</font></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">208</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Distribution to preferred shareholders and unit holders</font></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(11)</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(11)</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(45)</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(45)</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Repurchase of preferred shares</font></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6&#160;</font></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6&#160;</font></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6&#160;</font></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6&#160;</font></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.75pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">FFO available to common share and unit holders</font></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$</font></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">64</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$</font></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">68</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$</font></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">157</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$</font></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">169</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Non-cash ground rent on operating and capital leases</font></td><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</font></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</font></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7&#160;</font></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7&#160;</font></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Amortization of share-based compensation expense</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other</font></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1)</font></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1)</font></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10&#160;</font></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10&#160;</font></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Adjusted FFO available to common share and unit holders</font></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$</font></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">68</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$</font></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">72</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$</font></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">184</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$</font></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">196</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:5pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:3pt double #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:3pt double #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:3pt double #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:3pt double #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">FFO per common share - diluted</font></td><td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$</font></td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">0.56</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$</font></td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">0.59</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$</font></td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1.36</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$</font></td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1.47</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Adjusted FFO per common share - diluted</font></td><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$</font></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">0.58</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$</font></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">0.62</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$</font></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1.60</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$</font></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1.70</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:5pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Weighted-average number of fully diluted common shares and units</font></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">115.1&#160;</font></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">115.1&#160;</font></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">115.2&#160;</font></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">115.2&#160;</font></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:15pt"><td colspan="24" style="padding:0 1pt"></td></tr><tr><td colspan="24" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">See &#8220;Considerations Regarding Non-GAAP Financial Measures&#8221; of this press release for important considerations regarding the use of non-GAAP financial measures. Any differences are a result of rounding.</font></td></tr></table></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:right"><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div style="text-indent:36pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:86.151%"><tr><td style="width:1.0%"></td><td style="width:28.202%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:28.202%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:40.296%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="3" style="border-bottom:2pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt solid #000;padding:0 1pt"></td></tr></table></div><div style="text-align:justify;text-indent:36pt"><img alt="peblogo.jpg" src="peblogo.jpg" style="height:39px;margin-bottom:5pt;vertical-align:text-bottom;width:105px"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:120%">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;        </font><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Page 5</font></div></div></div><div id="i13aff586561c44589cefc8ed9e96e687_10"></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:98.958%"><tr><td style="width:1.0%"></td><td style="width:48.975%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.930%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.401%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.930%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.401%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.930%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.401%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.932%"></td><td style="width:0.1%"></td></tr><tr><td colspan="24" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:700;line-height:100%">Pebblebrook Hotel Trust</font></td></tr><tr><td colspan="24" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:700;line-height:100%">Reconciliation of Q2 2026 and Full Year 2026 Outlook Net Income to EBITDA, EBITDA</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:100%">re</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:700;line-height:100%"> and</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:700;line-height:100%">Adjusted EBITDA</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:100%">re</font></div></td></tr><tr><td colspan="24" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">($ in millions)</font></td></tr><tr><td colspan="24" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(Unaudited)</font></td></tr><tr style="height:5pt"><td colspan="12" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Three months ending<br>June 30, 2026</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Year ending<br>December 31, 2026</font></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Low</font></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">High</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Low </font></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">High</font></td></tr><tr style="height:5pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Net income (loss)</font></td><td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$</font></td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">19</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$</font></td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">23</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$</font></td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(8)</font></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$</font></td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">4</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Adjustments&#58;</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Interest expense and income tax expense</font></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">33&#160;</font></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">33&#160;</font></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">119&#160;</font></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">119&#160;</font></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Depreciation and amortization</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">49&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">49&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">196&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">196&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">EBITDA </font></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$</font></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">101</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$</font></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">105</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$</font></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">307</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$</font></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">319</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Impairment</font></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:11.25pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">EBITDA</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-style:italic;font-weight:700;line-height:100%">re</font></div></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$</font></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">102</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$</font></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">106</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$</font></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">315</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$</font></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">327</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Non-cash ground rent on operating and capital leases</font></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Amortization of share-based compensation expense</font></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3&#160;</font></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3&#160;</font></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10&#160;</font></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10&#160;</font></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:11.25pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Adjusted EBITDA</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-style:italic;font-weight:700;line-height:100%">re</font></div></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$</font></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">106</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$</font></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">110</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$</font></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">335</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$</font></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">347</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:15pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:3pt double #000;padding:0 1pt"></td></tr><tr><td colspan="24" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">See &#8220;Considerations Regarding Non-GAAP Financial Measures&#8221; of this press release for important considerations regarding the use of non-GAAP financial measures. Any differences are a result of rounding.</font></td></tr></table></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:right"><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div style="text-indent:36pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:86.151%"><tr><td style="width:1.0%"></td><td style="width:28.202%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:28.202%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:40.296%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="3" style="border-bottom:2pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt solid #000;padding:0 1pt"></td></tr></table></div><div style="text-align:justify;text-indent:36pt"><img alt="peblogo.jpg" src="peblogo.jpg" style="height:39px;margin-bottom:5pt;vertical-align:text-bottom;width:105px"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:120%">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;        </font><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Page 6</font></div></div></div><div id="i13aff586561c44589cefc8ed9e96e687_13"></div><hr style="page-break-after:always"><div style="min-height:36pt;width:100%"><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.415%"><tr><td style="width:1.0%"></td><td style="width:18.900%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:18.900%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:18.900%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:18.900%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:18.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="15" style="padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Considerations Regarding Non-GAAP Financial Measures</font></td></tr><tr><td colspan="15" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="margin-bottom:6pt;margin-top:6pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:112%">This press release includes certain non-GAAP financial measures. These measures are not in accordance with, or an alternative to, measures prepared in accordance with GAAP and may be different from similarly titled non-GAAP financial measures used by other companies. In addition, these non-GAAP financial measures are not based on any comprehensive set of accounting rules or principles. Non-GAAP financial measures have limitations in that they do not reflect all of the amounts associated with the Company&#8217;s results of operations determined in accordance with GAAP.</font></div><div><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:112%">Funds from Operations (&#8220;FFO&#8221;) - FFO represents net income (computed in accordance with GAAP), excluding gains or losses from sales of properties, plus real estate-related depreciation and amortization and after adjustments for unconsolidated partnerships. The Company considers FFO a useful measure of performance for an equity REIT because it facilitates an understanding of the Company's operating performance without giving effect to real estate depreciation and amortization, which assume that the value of real estate assets diminishes predictably over time. Since real estate values have historically risen or fallen with market conditions, the Company believes that FFO provides a meaningful indication of its performance. The Company also considers FFO an appropriate performance measure given its wide use by investors and analysts. The Company computes FFO in accordance with standards established by the Board of Governors of Nareit in its March 1995 White Paper (as amended in November 1999 and April 2002), which may differ from the methodology for calculating FFO utilized by other equity REITs and, accordingly, may not be comparable to that of other REITs. Further, FFO does not represent amounts available for management&#8217;s discretionary use because of needed capital replacement or expansion, debt service obligations or other commitments and uncertainties, nor is it indicative of funds available to fund the Company&#8217;s cash needs, including its ability to make distributions. The Company presents FFO per diluted share based on the outstanding dilutive common shares plus the outstanding Operating Partnership units for the periods presented. </font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:112%">Earnings before Interest, Taxes, Depreciation, and Amortization (&#34;EBITDA&#34;) - The Company believes that EBITDA provides investors a useful financial measure to evaluate its operating performance, excluding the impact of our capital structure (primarily interest expense) and our asset base (primarily depreciation and amortization).</font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:112%">EBITDA for Real Estate (&#34;EBITDA</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:112%">re</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:112%">&#34;) - The Company believes that EBITDA</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:112%">re</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:112%"> provides investors a useful financial measure to evaluate its operating performance, and the Company presents EBITDA</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:112%">re</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:112%"> in accordance with Nareit guidelines, as defined in its September 2017 white paper &#34;Earnings Before Interest, Taxes, Depreciation and Amortization for Real Estate.&#34; EBITDA</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:112%">re </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:112%">adjusts EBITDA for the following items, which may occur in any period&#58; (1) gains or losses on the disposition of depreciated property, including gains or losses on change of control&#59; (2) impairment write-downs of depreciated property and of investments in unconsolidated affiliates caused by a decrease in value of depreciated property in the affiliate&#59; and (3) adjustments to reflect the entity's share of EBITDA</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:112%">re</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:112%"> of unconsolidated affiliates.</font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:112%">The Company also evaluates its performance by reviewing Adjusted FFO and Adjusted EBITDA</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:112%">re</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:112%"> because it believes that adjusting FFO and EBITDA</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:112%">re</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:112%"> to exclude certain recurring and non-recurring items described below provides useful supplemental information regarding the Company's ongoing operating performance and that the presentation of Adjusted FFO and Adjusted EBITDA</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:112%">re</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:112%">, when combined with the primary GAAP presentation of net income (loss), more completely describes the Company's operating performance. The Company adjusts FFO available to common share and unit holders and EBITDA</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:112%">re</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:112%"> for the following items, which may occur in any period, and refers to these measures as Adjusted FFO and Adjusted EBITDA</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:112%">re</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:112%">&#58;</font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:112%">- </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:112%">Transaction costs&#58;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:112%"> The Company excludes transaction costs expensed during the period because it believes that including these costs in Adjusted FFO and Adjusted EBITDA</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:112%">re</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:112%"> does not reflect the underlying financial performance of the Company and its hotels.</font></div><div><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:112%">- </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:112%">Non-cash ground rent</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:112%">&#58; The Company excludes the non-cash ground rent expense, which is primarily made up of the straight-line rent impact from a ground lease.</font></div><div><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:112%">- </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:112%">Management&#47;franchise contract transition costs</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:112%">&#58; The Company excludes one-time management and&#47;or franchise contract transition costs expensed during the period because it believes that including these costs in Adjusted FFO and Adjusted EBITDA</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:112%">re</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:112%"> does not reflect the underlying financial performance of the Company and its hotels.</font></div><div><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:112%">-</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:112%"> Interest expense adjustment for acquired liabilities</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:112%">&#58; The Company excludes interest expense adjustment for acquired liabilities assumed in connection with acquisitions, because it believes that including these non-cash adjustments in Adjusted FFO does not reflect the underlying financial performance of the Company.</font></div><div><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:112%">-</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:112%"> Finance lease adjustment&#58;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:112%"> The Company excludes the effect of non-cash interest expense from finance leases because it believes that including these non-cash adjustments in Adjusted FFO does not reflect the underlying financial performance of the Company. </font></div><div><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:112%">- </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:112%">Non-cash amortization of acquired intangibles</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:112%">&#58; The Company excludes the non-cash amortization of acquired intangibles, which includes but is not limited to the amortization of favorable and unfavorable leases or management agreements and above&#47;below market real estate tax reduction agreements because it believes that including these non-cash adjustments in Adjusted FFO and Adjusted EBITDA</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:112%">re</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:112%"> does not reflect the underlying financial performance of the Company.</font></div><div><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:112%">- </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:112%">Early extinguishment of debt and deferred tax benefit</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:112%">&#58; The Company excludes these items because the Company believes that including these adjustments in Adjusted FFO does not reflect the underlying financial performance of the Company and its hotels.</font></div><div><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:112%">- </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:112%">Gain on insurance settlement, amortization of share-based compensation expense, hurricane-related costs and unrealized loss on investment</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:112%">&#58; The Company excludes these items because it believes that including these costs in Adjusted FFO and Adjusted EBITDA</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:112%">re</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:112%"> does not reflect the underlying financial performance of the Company and its hotels.</font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:112%">The Company presents weighted-average number of basic and fully diluted common shares and units by excluding the dilutive effect of shares issuable upon conversion of convertible debt.</font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:112%">The Company&#8217;s presentation of FFO and Adjusted FFO should not be considered as alternatives to net income (computed in accordance with GAAP) as an indicator of the Company&#8217;s financial performance or to cash flow from operating activities (computed in accordance with GAAP) as an indicator of its liquidity. The Company&#8217;s presentation of EBITDA</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:112%">re</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:112%"> and Adjusted EBITDA</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:112%">re </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:112%">should not be considered as alternatives to net income (computed in accordance with GAAP) as an indicator of the Company&#8217;s financial performance or to cash flow from operating activities (computed in accordance with GAAP) as an indicator of its liquidity.</font></div><div><font><br></font></div></td></tr></table></div><div style="height:36pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:right"><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div style="text-indent:36pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:86.151%"><tr><td style="width:1.0%"></td><td style="width:28.202%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:28.202%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:40.296%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="3" style="border-bottom:2pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt solid #000;padding:0 1pt"></td></tr></table></div><div style="text-align:justify;text-indent:36pt"><img alt="peblogo.jpg" src="peblogo.jpg" style="height:39px;margin-bottom:5pt;vertical-align:text-bottom;width:105px"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:120%">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;        </font><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Page 7</font></div></div></div><div id="i13aff586561c44589cefc8ed9e96e687_16"></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:22.560%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.227%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.841%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.227%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.841%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.632%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.841%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.739%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.841%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.851%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="30" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:700;line-height:100%">Pebblebrook Hotel Trust</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="30" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:700;line-height:100%">Historical Operating Data</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="30" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-style:italic;font-weight:700;line-height:100%">($ in millions except ADR and RevPAR data)</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="30" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-style:italic;font-weight:700;line-height:100%">(Unaudited)</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:5pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="30" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Historical Operating Data&#58;</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">First Quarter</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Second Quarter</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Third Quarter</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Fourth Quarter</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Full Year</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2025</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2025</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2025</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2025</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2025</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:12pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Occupancy</font></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">63</font></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">78</font></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">80</font></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">69</font></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">72</font></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">%</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">ADR</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$307</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$312</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$298</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$289</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$302</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">RevPAR</font></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$193</font></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$244</font></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$237</font></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$199</font></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$218</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Hotel Revenues</font></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$309.9</font></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$385.0</font></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$374.6</font></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$333.4</font></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$1,402.8</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Hotel EBITDA</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$64.1</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$115.1</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$100.1</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$68.9</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$348.2</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Hotel EBITDA Margin</font></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">20.7</font></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">29.9</font></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">26.7</font></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">20.7</font></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">24.8</font></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">%</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:8pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">First Quarter</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2026</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:15pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Occupancy</font></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">68</font></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">ADR</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$315</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">RevPAR</font></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$216</font></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt 0 7pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Hotel Revenues</font></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$340.9</font></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Hotel EBITDA</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$81.4</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Hotel EBITDA Margin</font></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">23.9</font></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%</font></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:9pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="30" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:3pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%;text-decoration:underline">Notes&#58;</font></div><div><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">These historical hotel operating results include information for all of the hotels the Company owned as of May 27, 2026, following the sale of Chamberlain West Hollywood Hotel. The information above does not reflect the Company's corporate general and administrative expense, interest expense, property acquisition costs, depreciation and amortization, taxes, and other expenses.</font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">These hotel results for the respective periods may include information reflecting operational performance prior to the Company's ownership of the hotels. Any differences are a result of rounding.</font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">The information above has not been audited and is presented only for comparison purposes.</font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:right"><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div style="text-indent:36pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:86.151%"><tr><td style="width:1.0%"></td><td style="width:28.202%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:28.202%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:40.296%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="3" style="border-bottom:2pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt solid #000;padding:0 1pt"></td></tr></table></div><div style="text-align:justify;text-indent:36pt"><img alt="peblogo.jpg" src="peblogo.jpg" style="height:39px;margin-bottom:5pt;vertical-align:text-bottom;width:105px"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:120%">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;        </font><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Page 8</font></div></div></div><div id="i13aff586561c44589cefc8ed9e96e687_19"></div><hr style="page-break-after:always"><div style="min-height:36pt;width:100%"><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font><br></font></div></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.851%"><tr><td style="width:1.0%"></td><td style="width:39.883%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.545%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.057%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.545%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.057%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.396%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.908%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.396%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.913%"></td><td style="width:0.1%"></td></tr><tr><td colspan="27" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:700;line-height:100%">Pebblebrook Hotel Trust</font></td></tr><tr><td colspan="27" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:700;line-height:100%">2026 Same-Property Inclusion Reference Table</font></td></tr><tr style="height:5pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Hotels</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Q1</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Q2</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Q3</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Q4</font></td></tr><tr style="height:5pt"><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Chamberlain West Hollywood Hotel</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">X</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:6pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%;text-decoration:underline">Notes&#58;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="27" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">A property marked with an &#34;X&#34; in a specific quarter denotes that the same-property operating results of that property are included in the Same-Property Statistical Data and in the Schedule of Same-Property Results.<br></font><font style="font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><br></font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">The Company's estimates and assumptions for 2026 Same-Property RevPAR, RevPAR Growth, Total Revenue Growth, Total Expense Growth, Hotel EBITDA and Hotel EBITDA Growth include all of the hotels the Company owned as of May 27, 2026, except for the following&#58; <br>&#160;&#160;&#8226; Chamberlain West Hollywood Hotel is included in Q1 only.<br></font><font style="font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><br></font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Operating statistics and financial results may include periods prior to the Company's ownership of the hotels.<br></font><font style="font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><br><br></font></td></tr></table></div><div style="height:36pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:right"><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div style="text-indent:36pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:86.151%"><tr><td style="width:1.0%"></td><td style="width:28.202%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:28.202%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:40.296%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="3" style="border-bottom:2pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt solid #000;padding:0 1pt"></td></tr></table></div><div style="text-align:justify;text-indent:36pt"><img alt="peblogo.jpg" src="peblogo.jpg" style="height:39px;margin-bottom:5pt;vertical-align:text-bottom;width:105px"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:120%">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;        </font><font style="color:#000000;font-family:'Century Gothic',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Page 9</font></div></div></div></body></html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>7
<FILENAME>image0a25.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 image0a25.jpg
M_]C_X  02D9)1@ ! 0$ W #<  #_VP!#  (! 0$! 0(! 0$" @(" @0# @("
M @4$! ,$!@4&!@8%!@8&!PD(!@<)!P8&" L("0H*"@H*!@@+# L*# D*"@K_
MVP!# 0(" @(" @4# P4*!P8'"@H*"@H*"@H*"@H*"@H*"@H*"@H*"@H*"@H*
M"@H*"@H*"@H*"@H*"@H*"@H*"@H*"@K_P  1" %A :@# 2(  A$! Q$!_\0
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M **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@
MHHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "B
MBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH ***
M* "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH
M **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@
MHHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "B
MBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH ***
M* "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH
M **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@
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M@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH ****
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M-PLT-Q$5R&1U)5E/J#@U]!"K2J.T9)V[,^?G2JTU>46K^1Q7[,VKW%SX.N]
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M[^WY?Z!JA4)>?#?5D1V(!C=7MI%93V(*9^@-?O'\-+^749?#_B-V;[5J^E7
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M*I5J<]FD_GKJ?T>4445[QX04444 %%%% !1110 4444 %%%% !1110 4444
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M((KS;]K?]JKX4_L8? ?6_C_\8=3,.EZ1$!!:PD>??W+<16T*G[TCMP.P +'
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M;<^%O[??[/.F?'?X9L;9Y&-KK^B32AIM)OT ,ENY'488,KX&Y&4X!R!\V?\
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M7_\ T985C?\ !KK^U9JWA[XO^,/V/=>U-VTKQ%IK:_H$$C\0W]OL2=4'_32
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MY:%R#C/*D%3V+6/^"KFAP>(/^"=WQ6L+A RQ^&_M(!'\4,\4RG\#&#7XL_\
M!-+]I+5OV7?VR_!GCZWU!X=+O]4BTCQ'$'PDMA<NL<A8=]A*RC_:B%+$8G^S
M<QC&/\.25UT6MKKL/#X;^T\NE*7\2+=GU>E[/N?T!?'/_DB7C'_L5=0_])I*
M_F&@_P!>G^^/YU_3S\<_^2)>,?\ L5=0_P#2:2OYAH/]>G^^/YUS<1_Q*7S_
M $.KAOX*GJOU/ZE?#/\ R+FG_P#7C%_Z *^(/^"G_P"T)XQ^._C72_\ @FS^
MR-=W=SX_UJ_M[OQ/KFF:A)!'X;LXV60F66(@J2,,PSPI"X+2**W?^"GG_!3'
M1OV)?@O8> ?AU?6]U\2O$.C1_P!E6YPZZ3 R;3>RKTSG(C0_>89(*J0>@_X)
M%_L\_"/X<_LSZ=\<O"?BT>+O%/Q'MQJOBSQE<$O/<7+L2]MN;+*(I"ZL"<LX
M9CU 'KUJJQ57ZK3?3WGV79>;_ \:A2>%I?6JBZ^ZN[[OR7XG-Z-_P1;\%6^D
MVL.O?MF?'"XODMT%Y<6WC7RHY)0HW,B&-BBDY(4LQ XR>M?9NG62Z=I\&GI-
M)(((5C$DK99@H R3W)QS4U%=E'#T</?V:M<XZV(K5[>T=[!1116YB%%%% '\
MZ_\ P<;_ /*4'Q%_V*^C_P#I**_1C_@V1U'[;_P3EO[7'_'I\2M3B_.VLW_]
MGK\Y_P#@XW_Y2@^(O^Q7T?\ ])17VM_P:Q?&?P[JW[.OQ!^ +7L::OHGBU=;
M6V+#=):W5O%#O [A7ML'TWKZUR0?^T,ZYK_9T?JE7\VW_!?_ /Y2M?$K_KAH
MW_IIM*_I)K^;7_@OU+'/_P %7/B8D+ARL>C*P4YPW]DVG'UY%:8CX",/\;]#
M] O^#5M=1'[*GQ):;=]E/Q C^SYZ;_L4._'X;*_-S_@MPVI/_P %3OC =5W>
M;_;EH%W=?+&GVHC_  V;?PK]MO\ @B9^R7K?[(/_  3_ /"WA+QGICV?B/Q-
M-+XC\06DJ;7MYKH)Y4+ \ADMXX%93T<.*_-#_@YN_9>U?X=_M<Z/^TYINFN=
M%^(.BPV]Y=*GRIJ=F@B9&/8M;B KZ[']*BI%J@BJ<DZ[/:/^#=C]B3]E7]HG
M]C[Q3X]^/7[/WA;Q;J,/Q"N+*SOM=TF.XEBA2RM'\M689"[I&./4FOO[_AU9
M_P $X?\ HRKX=?\ A-P_X5\D?\&M/B*TO?V*/&_A>.53/8?$N:>5,\A9K"T"
MG\3$WY&OTUK6E&+IK0RJRDJCU/"-*_X)@?\ !/#0]4MM:TG]C/X>075G<)/;
M3)X:AS'(C!E89'4$ U\Z_P#!RM_RC3F_['O2OY3U^@-?G_\ \'*__*-.;_L?
M-*_E/3J)*F["@VZBN?E[_P &^VGIJ'_!5/X?;_\ EA9:O*/JNFW'^-?TA5_,
MO_P1)^)NE_"K_@I[\*]<UJZ2"VU#5I])>5VP ]Y:RV\8_&21!^-?TT5GA_@9
M>(^,^"?^#D?_ )1D:I_V.6D?^C'K\3/^";USJ5I^W]\&9])9A<#XE:.$*]<&
M[C!_0FOVO_X.3+F"#_@F9?Q2RA6F\:Z2D0)^\V^1L#\%)_"OS/\ ^#>S]EK6
MOC[_ ,% =%^)$VFNWA_X9PMKFJ713Y!<[6CM(L_WS*?, ](&/:HJJ]9(TI-*
MBV?:7_!U?_R;]\*/^QRO?_205\V_\&N.GI=_MW>+KQCS:_"^[9?QO[%?ZU])
M?\'5_P#R;]\*/^QRO?\ TD%?(_\ P;5?$W2_ O\ P4;'A;5+I(CXN\$ZCIEH
M7;&^9&ANPOU*VS_B*)?[P$+_ %=G]"%?EC_P=4_\FQ_##_L?)_\ TBDK]3J_
M*W_@ZKNH$_9M^%MDTH$LGCBY=$SR56S8$_@67\ZVK?PV84OXB/@#_@@G<ZE;
M?\%4_AB=-+ NVJ)-M[QG3;G=GVQ7UI_P=@?\CE\$?^P9K_\ Z,L*XO\ X-@_
MV6M;\;?M+>(_VKM5TUUT3P3H\FF:9=.F%EU.[4*RH>^RW\S=Z>?'_>KM/^#L
M#_D<O@C_ -@S7_\ T985@E;#LZ&T\0C'_P"#4W_DN'Q<_P"Q4T[_ -*9*^U_
M^#A]M27_ ()7^-A8[O+.LZ*+O;_SS_M&#K[;]E?%'_!J;_R7#XN?]BIIW_I3
M)7ZJ_M^?LZR?M8?L;?$/X!6:(;[7_#DRZ27Z"^BQ-;9]!YT<>?8FM*:O0L95
M':O?T/YEOV,O!VB_$+]KKX8>!?$NE07^G:OX^TBTO[&YC#QW$,EY$KQNIX*L
MI(([@U_27_PZL_X)P_\ 1E7PZ_\ ";A_PK^<3]C6[N/AE^W)\,9_%EK)8S:)
M\3M)34H;E=C6[1W\2R*X/W2I!SGI@U_5S4X=)IW+Q#::L> _\.K/^"</_1E7
MPZ_\)N'_  KT/X+_ +-'[/W[->C:CH_P!^#OA[PA;:I*)M1AT#3([<7,BJ55
MGVCYL D#/3)QU-=W39_]0_\ N'^5=*C%=#GYF^I_+?XS_P"1PU;_ +"<_P#Z
M,:OZ5_V6]/\ [*_9F^'>FGK!X&TE#]19Q"OYJ/&?_(X:M_V$Y_\ T8U?T@_L
M1^-]/^(O['_PR\8Z;.LD=WX'TT,RG.)$MTCD4^X=&!]P:^5X=:]O47DOS/J>
M(4_84GYO\CTZX_X]Y/\ </\ *OY<?&W_ ".>K_\ 84N/_1C5_4;=,J6LC,<
M1DD_A7\ONI:'JWB_XGW'AOPU827E]J>O/;6%M NYYI9)BJ(H'4DD ?6M.(]5
M27K^AEPYHZK]/U/Z ?\ @E%J5_JO_!.WX4W6HNS2+X;,*ECSY<<\L:#_ +X5
M17XF?\%(O^3]OB[_ -C[J/\ Z.:OW\_9=^$*_ +]G3P3\&-ZM)X;\-6EE<NG
M1YTC'FL/K)N/XU^ ?_!2+_D_;XN_]C[J/_HYJ,[A*&7T8O=67X#R2<9YA6DM
MG=_B?KM_P0I\'VWA;_@G7X:U*.(++KFL:G?W!Q]X_:6A4_\ ?$*5]A5\N_\
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M"ZT+5)O*L_%NB26FGO)IL[\!&#Y>)R0%9CDC@CQ;_@XW_P"4H/B+_L5]'_\
M245^AG_!K_\ \H]-?_[*GJ/_ *0Z?7'%*5=H[)-J@F>OS?\ !5;Q19>$I;#4
MO^"=OQ^B\?10%%\)1> Y9K22ZQC:NI)F P[O^6O7'.WM7SE^PY_P1J^,7Q>_
M:MU3_@HC_P %,-/L(]?U37FUK2OAW!,MPD%QN!A-TRED\N%0BI""V=B[SP5/
MZE45TN',US:G,IV7NZ!7E7[9_P"R#\*?VXO@!K'P ^+=FWV/4%$NGZE @,^F
M7B ^5<Q$_P 2DD$=&5F4\,:]5HJFDU9DIM.Z/Q6_8T\$?MI?\$%?VD?$>G?&
M/X%^(O'/P?\ %JQPZCXH\"Z<]['&868V]Z$7F)U5W5XI=N0YVLVT9^Y-2_X+
M%?#KXA::NC?L=?LZ?$_XJ>*KI=MIIEKX/NM-LK:0]#=WEVB1P(#U;YJ^Q:
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M\6Z/+I.G^1#()$AC,X#./,5'8@%OW8 4Y)K]$J*YI8.K.C[&53W=MM;=K_\
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M"'GDK@GC/2OT,_8=_P"3*_A!_P!DN\/_ /IN@KYH_P""X7['_P"T-^USX$\
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M,LK_  ?\*.I!!\-6)!'_ %[I7YV?\'*S+_PKOX4ID9_MK5#C_MC;U]:?L_\
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M **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@
MHHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "B
MBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH ***
M* "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH
M **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@
MHHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "B
MBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH ***
M* "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH
M **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@
MHHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "B
MBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH ***
M* "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH
M **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@
MHHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "B
MBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH ***
D* "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH __9

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>8
<FILENAME>peblogo.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 peblogo.jpg
M_]C_X  02D9)1@ ! 0$ W #<  #_VP!#  ," @," @,# P,$ P,$!0@%!00$
M!0H'!P8(# H,# L*"PL-#A(0#0X1#@L+$!80$1,4%145# \7&!84&!(4%13_
MVP!# 0,$! 4$!0D%!0D4#0L-%!04%!04%!04%!04%!04%!04%!04%!04%!04
M%!04%!04%!04%!04%!04%!04%!04%!3_P  1" !, ,H# 2(  A$! Q$!_\0
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MLUE<O;R\'(PZ$,/P-?G]^Q'JVIR_MA^.M,N=8U/4+*Q@O8+>*_O9;@(BSA5
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M?#'Q)X7#B*74K-X8I#T63JA/_ @*SH03H)_:1>(FU7<=HNUSP?\ X)X^;?\
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%K7Z'_]D!

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>10
<FILENAME>R1.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.26.1</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Document and Entity Information Document<br></strong></div></th>
<th class="th"><div>May 27, 2026</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityInformationLineItems', window );"><strong>Entity Information [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_DocumentType', window );">Document Type</a></td>
<td class="text">8-K<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_AmendmentFlag', window );">Amendment Flag</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_DocumentPeriodEndDate', window );">Document Period End Date</a></td>
<td class="text">May 27,  2026<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityRegistrantName', window );">Entity Registrant Name</a></td>
<td class="text">PEBBLEBROOK HOTEL TRUST<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityCentralIndexKey', window );">Entity Central Index Key</a></td>
<td class="text">0001474098<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityIncorporationStateCountryCode', window );">Entity Incorporation, State or Country Code</a></td>
<td class="text">MD<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityFileNumber', window );">Entity File Number</a></td>
<td class="text">001-34571<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityTaxIdentificationNumber', window );">Entity Tax Identification Number</a></td>
<td class="text">27-1055421<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressAddressLine1', window );">Entity Address, Address Line One</a></td>
<td class="text">4747 Bethesda Avenue<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressAddressLine2', window );">Entity Address, Address Line Two</a></td>
<td class="text">Suite 1100<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressCityOrTown', window );">Entity Address, City or Town</a></td>
<td class="text">Bethesda<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressStateOrProvince', window );">Entity Address, State or Province</a></td>
<td class="text">MD<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressPostalZipCode', window );">Entity Address, Postal Zip Code</a></td>
<td class="text">20814<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_CityAreaCode', window );">City Area Code</a></td>
<td class="text">240<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LocalPhoneNumber', window );">Local Phone Number</a></td>
<td class="text">507-1300<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_WrittenCommunications', window );">Written Communications</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_SolicitingMaterial', window );">Soliciting Material</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_PreCommencementTenderOffer', window );">Pre-commencement Tender Offer</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_PreCommencementIssuerTenderOffer', window );">Pre-commencement Issuer Tender Offer</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityEmergingGrowthCompany', window );">Entity Emerging Growth Company</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StatementClassOfStockAxis=us-gaap_CommonStockMember', window );">Common Shares, $0.01 par value per share</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityInformationLineItems', window );"><strong>Entity Information [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_Security12bTitle', window );">Title of 12(b) Security</a></td>
<td class="text">Common Shares, $0.01 par value per share<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_TradingSymbol', window );">Trading Symbol</a></td>
<td class="text">PEB<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_SecurityExchangeName', window );">Security Exchange Name</a></td>
<td class="text">NYSE<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StatementClassOfStockAxis=us-gaap_SeriesEPreferredStockMember', window );">Series E Cumulative Redeemable Preferred Shares, $0.01 par value</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityInformationLineItems', window );"><strong>Entity Information [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_Security12bTitle', window );">Title of 12(b) Security</a></td>
<td class="text">Series E Cumulative Redeemable Preferred Shares, $0.01 par value<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_TradingSymbol', window );">Trading Symbol</a></td>
<td class="text">PEB-PE<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_SecurityExchangeName', window );">Security Exchange Name</a></td>
<td class="text">NYSE<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StatementClassOfStockAxis=us-gaap_SeriesFPreferredStockMember', window );">Series F Cumulative Redeemable Preferred Shares, $0.01 par value</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityInformationLineItems', window );"><strong>Entity Information [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_Security12bTitle', window );">Title of 12(b) Security</a></td>
<td class="text">Series F Cumulative Redeemable Preferred Shares, $0.01 par value<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_TradingSymbol', window );">Trading Symbol</a></td>
<td class="text">PEB-PF<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_SecurityExchangeName', window );">Security Exchange Name</a></td>
<td class="text">NYSE<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StatementClassOfStockAxis=us-gaap_SeriesGPreferredStockMember', window );">Series G Cumulative Redeemable Preferred Shares, $0.01 par value</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityInformationLineItems', window );"><strong>Entity Information [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_Security12bTitle', window );">Title of 12(b) Security</a></td>
<td class="text">Series G Cumulative Redeemable Preferred Shares, $0.01 par value<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_TradingSymbol', window );">Trading Symbol</a></td>
<td class="text">PEB-PG<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_SecurityExchangeName', window );">Security Exchange Name</a></td>
<td class="text">NYSE<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StatementClassOfStockAxis=us-gaap_SeriesHPreferredStockMember', window );">Series H Cumulative Redeemable Preferred Shares, $0.01 par value</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityInformationLineItems', window );"><strong>Entity Information [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_Security12bTitle', window );">Title of 12(b) Security</a></td>
<td class="text">Series H Cumulative Redeemable Preferred Shares, $0.01 par value<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_TradingSymbol', window );">Trading Symbol</a></td>
<td class="text">PEB-PH<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_SecurityExchangeName', window );">Security Exchange Name</a></td>
<td class="text">NYSE<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_AmendmentFlag">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the XBRL content amends previously-filed or accepted submission.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_AmendmentFlag</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_CityAreaCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Area code of city</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_CityAreaCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentPeriodEndDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>For the EDGAR submission types of Form 8-K: the date of the report, the date of the earliest event reported; for the EDGAR submission types of Form N-1A: the filing date; for all other submission types: the end of the reporting or transition period. The format of the date is YYYY-MM-DD.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentPeriodEndDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:dateItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentType">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentType</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:submissionTypeItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressAddressLine1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Address Line 1 such as Attn, Building Name, Street Name</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressAddressLine1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressAddressLine2">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Address Line 2 such as Street or Suite number</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressAddressLine2</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressCityOrTown">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Name of the City or Town</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressCityOrTown</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressPostalZipCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Code for the postal or zip code</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressPostalZipCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressStateOrProvince">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Name of the state or province.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressStateOrProvince</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:stateOrProvinceItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCentralIndexKey">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityCentralIndexKey</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:centralIndexKeyItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityEmergingGrowthCompany">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Indicate if registrant meets the emerging growth company criteria.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityEmergingGrowthCompany</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityFileNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityFileNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:fileNumberItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityIncorporationStateCountryCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Two-character EDGAR code representing the state or country of incorporation.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityIncorporationStateCountryCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:edgarStateCountryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityInformationLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityInformationLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityRegistrantName">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityRegistrantName</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityTaxIdentificationNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityTaxIdentificationNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:employerIdItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_LocalPhoneNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Local phone number for entity.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LocalPhoneNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_PreCommencementIssuerTenderOffer">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 13e<br> -Subsection 4c<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_PreCommencementIssuerTenderOffer</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_PreCommencementTenderOffer">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 14d<br> -Subsection 2b<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_PreCommencementTenderOffer</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_Security12bTitle">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Title of a 12(b) registered security.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_Security12bTitle</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:securityTitleItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_SecurityExchangeName">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Name of the Exchange on which a security is registered.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection d1-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_SecurityExchangeName</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:edgarExchangeCodeItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_SolicitingMaterial">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 14a<br> -Subsection 12<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_SolicitingMaterial</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_TradingSymbol">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Trading symbol of an instrument as listed on an exchange.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_TradingSymbol</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:tradingSymbolItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_WrittenCommunications">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Securities Act<br> -Number 230<br> -Section 425<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_WrittenCommunications</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementClassOfStockAxis=us-gaap_CommonStockMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementClassOfStockAxis=us-gaap_CommonStockMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementClassOfStockAxis=us-gaap_SeriesEPreferredStockMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementClassOfStockAxis=us-gaap_SeriesEPreferredStockMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementClassOfStockAxis=us-gaap_SeriesFPreferredStockMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementClassOfStockAxis=us-gaap_SeriesFPreferredStockMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementClassOfStockAxis=us-gaap_SeriesGPreferredStockMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementClassOfStockAxis=us-gaap_SeriesGPreferredStockMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementClassOfStockAxis=us-gaap_SeriesHPreferredStockMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementClassOfStockAxis=us-gaap_SeriesHPreferredStockMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>11
<FILENAME>report.css
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
/* Updated 2009-11-04 */
/* v2.2.0.24 */

/* DefRef Styles */
.report table.authRefData{
	background-color: #def;
	border: 2px solid #2F4497;
	font-size: 1em;
	position: absolute;
}

.report table.authRefData a {
	display: block;
	font-weight: bold;
}

.report table.authRefData p {
	margin-top: 0px;
}

.report table.authRefData .hide {
	background-color: #2F4497;
	padding: 1px 3px 0px 0px;
	text-align: right;
}

.report table.authRefData .hide a:hover {
	background-color: #2F4497;
}

.report table.authRefData .body {
	height: 150px;
	overflow: auto;
	width: 400px;
}

.report table.authRefData table{
	font-size: 1em;
}

/* Report Styles */
.pl a, .pl a:visited {
	color: black;
	text-decoration: none;
}

/* table */
.report {
	background-color: white;
	border: 2px solid #acf;
	clear: both;
	color: black;
	font: normal 8pt Helvetica, Arial, san-serif;
	margin-bottom: 2em;
}

.report hr {
	border: 1px solid #acf;
}

/* Top labels */
.report th {
	background-color: #acf;
	color: black;
	font-weight: bold;
	text-align: center;
}

.report th.void	{
	background-color: transparent;
	color: #000000;
	font: bold 10pt Helvetica, Arial, san-serif;
	text-align: left;
}

.report .pl {
	text-align: left;
	vertical-align: top;
	white-space: normal;
	width: 200px;
	white-space: normal; /* word-wrap: break-word; */
}

.report td.pl a.a {
	cursor: pointer;
	display: block;
	width: 200px;
	overflow: hidden;
}

.report td.pl div.a {
	width: 200px;
}

.report td.pl a:hover {
	background-color: #ffc;
}

/* Header rows... */
.report tr.rh {
	background-color: #acf;
	color: black;
	font-weight: bold;
}

/* Calendars... */
.report .rc {
	background-color: #f0f0f0;
}

/* Even rows... */
.report .re, .report .reu {
	background-color: #def;
}

.report .reu td {
	border-bottom: 1px solid black;
}

/* Odd rows... */
.report .ro, .report .rou {
	background-color: white;
}

.report .rou td {
	border-bottom: 1px solid black;
}

.report .rou table td, .report .reu table td {
	border-bottom: 0px solid black;
}

/* styles for footnote marker */
.report .fn {
	white-space: nowrap;
}

/* styles for numeric types */
.report .num, .report .nump {
	text-align: right;
	white-space: nowrap;
}

.report .nump {
	padding-left: 2em;
}

.report .nump {
	padding: 0px 0.4em 0px 2em;
}

/* styles for text types */
.report .text {
	text-align: left;
	white-space: normal;
}

.report .text .big {
	margin-bottom: 1em;
	width: 17em;
}

.report .text .more {
	display: none;
}

.report .text .note {
	font-style: italic;
	font-weight: bold;
}

.report .text .small {
	width: 10em;
}

.report sup {
	font-style: italic;
}

.report .outerFootnotes {
	font-size: 1em;
}
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>12
<FILENAME>Show.js
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
// Edgar(tm) Renderer was created by staff of the U.S. Securities and Exchange Commission.  Data and content created by government employees within the scope of their employment are not subject to domestic copyright protection. 17 U.S.C. 105.
var Show={};Show.LastAR=null,Show.showAR=function(a,r,w){if(Show.LastAR)Show.hideAR();var e=a;while(e&&e.nodeName!='TABLE')e=e.nextSibling;if(!e||e.nodeName!='TABLE'){var ref=((window)?w.document:document).getElementById(r);if(ref){e=ref.cloneNode(!0);
e.removeAttribute('id');a.parentNode.appendChild(e)}}
if(e)e.style.display='block';Show.LastAR=e};Show.hideAR=function(){Show.LastAR.style.display='none'};Show.toggleNext=function(a){var e=a;while(e.nodeName!='DIV')e=e.nextSibling;if(!e.style){}else if(!e.style.display){}else{var d,p_;if(e.style.display=='none'){d='block';p='-'}else{d='none';p='+'}
e.style.display=d;if(a.textContent){a.textContent=p+a.textContent.substring(1)}else{a.innerText=p+a.innerText.substring(1)}}}
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>14
<FILENAME>FilingSummary.xml
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<XML>
<?xml version='1.0' encoding='utf-8'?>
<FilingSummary>
  <Version>3.26.1</Version>
  <ProcessingTime/>
  <ReportFormat>html</ReportFormat>
  <ContextCount>6</ContextCount>
  <ElementCount>23</ElementCount>
  <EntityCount>1</EntityCount>
  <FootnotesReported>false</FootnotesReported>
  <SegmentCount>5</SegmentCount>
  <ScenarioCount>0</ScenarioCount>
  <TuplesReported>false</TuplesReported>
  <UnitCount>0</UnitCount>
  <MyReports>
    <Report instance="peb-20260527.htm">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R1.htm</HtmlFileName>
      <LongName>0000001 - Document - Document and Entity Information Document</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.pebblebrookhotels.com/role/DocumentandEntityInformationDocument</Role>
      <ShortName>Document and Entity Information Document</ShortName>
      <MenuCategory>Cover</MenuCategory>
      <Position>1</Position>
    </Report>
    <Report>
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <LongName>All Reports</LongName>
      <ReportType>Book</ReportType>
      <ShortName>All Reports</ShortName>
    </Report>
  </MyReports>
  <InputFiles>
    <File doctype="8-K" isOnlyDei="true" isUsgaap="true" original="peb-20260527.htm">peb-20260527.htm</File>
    <File>peb-20260527.xsd</File>
    <File>peb-20260527_def.xml</File>
    <File>peb-20260527_lab.xml</File>
    <File>peb-20260527_pre.xml</File>
  </InputFiles>
  <SupplementalFiles/>
  <BaseTaxonomies>
    <BaseTaxonomy items="35">http://xbrl.sec.gov/dei/2026</BaseTaxonomy>
  </BaseTaxonomies>
  <HasPresentationLinkbase>true</HasPresentationLinkbase>
  <HasCalculationLinkbase>false</HasCalculationLinkbase>
</FilingSummary>
</XML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>JSON
<SEQUENCE>16
<FILENAME>MetaLinks.json
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
{
 "version": "2.2",
 "instance": {
  "peb-20260527.htm": {
   "nsprefix": "peb",
   "nsuri": "http://www.pebblebrookhotels.com/20260527",
   "dts": {
    "inline": {
     "local": [
      "peb-20260527.htm"
     ]
    },
    "schema": {
     "local": [
      "peb-20260527.xsd"
     ],
     "remote": [
      "http://www.xbrl.org/2003/xbrl-instance-2003-12-31.xsd",
      "http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd",
      "http://www.xbrl.org/2003/xl-2003-12-31.xsd",
      "http://www.xbrl.org/2003/xlink-2003-12-31.xsd",
      "http://www.xbrl.org/2005/xbrldt-2005.xsd",
      "http://www.xbrl.org/2006/ref-2006-02-27.xsd",
      "http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd",
      "http://www.xbrl.org/lrr/role/net-2009-12-16.xsd",
      "https://www.xbrl.org/2020/extensible-enumerations-2.0.xsd",
      "https://www.xbrl.org/dtr/type/2020-01-21/types.xsd",
      "https://www.xbrl.org/dtr/type/2024-01-31/types.xsd",
      "https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd",
      "https://xbrl.fasb.org/srt/2026/elts/srt-roles-2026.xsd",
      "https://xbrl.fasb.org/srt/2026/elts/srt-types-2026.xsd",
      "https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd",
      "https://xbrl.fasb.org/us-gaap/2026/elts/us-roles-2026.xsd",
      "https://xbrl.fasb.org/us-gaap/2026/elts/us-types-2026.xsd",
      "https://xbrl.sec.gov/country/2026/country-2026.xsd",
      "https://xbrl.sec.gov/dei/2026/dei-2026.xsd",
      "https://xbrl.sec.gov/stpr/2026/stpr-2026.xsd"
     ]
    },
    "definitionLink": {
     "local": [
      "peb-20260527_def.xml"
     ]
    },
    "labelLink": {
     "local": [
      "peb-20260527_lab.xml"
     ]
    },
    "presentationLink": {
     "local": [
      "peb-20260527_pre.xml"
     ]
    }
   },
   "keyStandard": 23,
   "keyCustom": 0,
   "axisStandard": 1,
   "axisCustom": 0,
   "memberStandard": 5,
   "memberCustom": 0,
   "hidden": {
    "total": 2,
    "http://xbrl.sec.gov/dei/2026": 2
   },
   "contextCount": 6,
   "entityCount": 1,
   "segmentCount": 5,
   "elementCount": 33,
   "unitCount": 0,
   "baseTaxonomies": {
    "http://xbrl.sec.gov/dei/2026": 35
   },
   "report": {
    "R1": {
     "role": "http://www.pebblebrookhotels.com/role/DocumentandEntityInformationDocument",
     "longName": "0000001 - Document - Document and Entity Information Document",
     "shortName": "Document and Entity Information Document",
     "isDefault": "true",
     "groupType": "document",
     "subGroupType": "",
     "menuCat": "Cover",
     "order": "1",
     "firstAnchor": {
      "contextRef": "c-1",
      "name": "dei:DocumentType",
      "unitRef": null,
      "xsiNil": "false",
      "lang": "en-US",
      "decimals": null,
      "ancestors": [
       "span",
       "div",
       "body",
       "html"
      ],
      "reportCount": 1,
      "baseRef": "peb-20260527.htm",
      "first": true,
      "unique": true
     },
     "uniqueAnchor": {
      "contextRef": "c-1",
      "name": "dei:DocumentType",
      "unitRef": null,
      "xsiNil": "false",
      "lang": "en-US",
      "decimals": null,
      "ancestors": [
       "span",
       "div",
       "body",
       "html"
      ],
      "reportCount": 1,
      "baseRef": "peb-20260527.htm",
      "first": true,
      "unique": true
     }
    }
   },
   "tag": {
    "dei_AmendmentFlag": {
     "xbrltype": "booleanItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2026",
     "localname": "AmendmentFlag",
     "presentation": [
      "http://www.pebblebrookhotels.com/role/DocumentandEntityInformationDocument"
     ],
     "lang": {
      "en-us": {
       "role": {
        "terseLabel": "Amendment Flag",
        "label": "Amendment Flag",
        "documentation": "Boolean flag that is true when the XBRL content amends previously-filed or accepted submission."
       }
      }
     },
     "auth_ref": []
    },
    "dei_CityAreaCode": {
     "xbrltype": "normalizedStringItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2026",
     "localname": "CityAreaCode",
     "presentation": [
      "http://www.pebblebrookhotels.com/role/DocumentandEntityInformationDocument"
     ],
     "lang": {
      "en-us": {
       "role": {
        "terseLabel": "City Area Code",
        "label": "City Area Code",
        "documentation": "Area code of city"
       }
      }
     },
     "auth_ref": []
    },
    "us-gaap_ClassOfStockDomain": {
     "xbrltype": "domainItemType",
     "nsuri": "http://fasb.org/us-gaap/2026",
     "localname": "ClassOfStockDomain",
     "presentation": [
      "http://www.pebblebrookhotels.com/role/DocumentandEntityInformationDocument"
     ],
     "lang": {
      "en-us": {
       "role": {
        "terseLabel": "Class of Stock [Domain]",
        "label": "Class of Stock [Domain]"
       }
      }
     },
     "auth_ref": []
    },
    "us-gaap_CommonStockMember": {
     "xbrltype": "domainItemType",
     "nsuri": "http://fasb.org/us-gaap/2026",
     "localname": "CommonStockMember",
     "presentation": [
      "http://www.pebblebrookhotels.com/role/DocumentandEntityInformationDocument"
     ],
     "lang": {
      "en-us": {
       "role": {
        "terseLabel": "Common Shares, $0.01 par value per share",
        "label": "Common Stock [Member]"
       }
      }
     },
     "auth_ref": []
    },
    "peb_DocumentAndEntityInformationAbstract": {
     "xbrltype": "stringItemType",
     "nsuri": "http://www.pebblebrookhotels.com/20260527",
     "localname": "DocumentAndEntityInformationAbstract",
     "lang": {
      "en-us": {
       "role": {
        "terseLabel": "Document And Entity Information [Abstract]",
        "label": "Document And Entity Information [Abstract]",
        "documentation": "Document And Entity Information [Abstract]"
       }
      }
     },
     "auth_ref": []
    },
    "dei_DocumentPeriodEndDate": {
     "xbrltype": "dateItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2026",
     "localname": "DocumentPeriodEndDate",
     "presentation": [
      "http://www.pebblebrookhotels.com/role/DocumentandEntityInformationDocument"
     ],
     "lang": {
      "en-us": {
       "role": {
        "terseLabel": "Document Period End Date",
        "label": "Document Period End Date",
        "documentation": "For the EDGAR submission types of Form 8-K: the date of the report, the date of the earliest event reported; for the EDGAR submission types of Form N-1A: the filing date; for all other submission types: the end of the reporting or transition period. The format of the date is YYYY-MM-DD."
       }
      }
     },
     "auth_ref": []
    },
    "dei_DocumentType": {
     "xbrltype": "submissionTypeItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2026",
     "localname": "DocumentType",
     "presentation": [
      "http://www.pebblebrookhotels.com/role/DocumentandEntityInformationDocument"
     ],
     "lang": {
      "en-us": {
       "role": {
        "terseLabel": "Document Type",
        "label": "Document Type",
        "documentation": "The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'."
       }
      }
     },
     "auth_ref": []
    },
    "dei_EntitiesTable": {
     "xbrltype": "stringItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2026",
     "localname": "EntitiesTable",
     "presentation": [
      "http://www.pebblebrookhotels.com/role/DocumentandEntityInformationDocument"
     ],
     "lang": {
      "en-us": {
       "role": {
        "terseLabel": "Entities [Table]",
        "label": "Entities [Table]",
        "documentation": "Container to assemble all relevant information about each entity associated with the document instance"
       }
      }
     },
     "auth_ref": []
    },
    "dei_EntityAddressAddressLine1": {
     "xbrltype": "normalizedStringItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2026",
     "localname": "EntityAddressAddressLine1",
     "presentation": [
      "http://www.pebblebrookhotels.com/role/DocumentandEntityInformationDocument"
     ],
     "lang": {
      "en-us": {
       "role": {
        "terseLabel": "Entity Address, Address Line One",
        "label": "Entity Address, Address Line One",
        "documentation": "Address Line 1 such as Attn, Building Name, Street Name"
       }
      }
     },
     "auth_ref": []
    },
    "dei_EntityAddressAddressLine2": {
     "xbrltype": "normalizedStringItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2026",
     "localname": "EntityAddressAddressLine2",
     "presentation": [
      "http://www.pebblebrookhotels.com/role/DocumentandEntityInformationDocument"
     ],
     "lang": {
      "en-us": {
       "role": {
        "terseLabel": "Entity Address, Address Line Two",
        "label": "Entity Address, Address Line Two",
        "documentation": "Address Line 2 such as Street or Suite number"
       }
      }
     },
     "auth_ref": []
    },
    "dei_EntityAddressCityOrTown": {
     "xbrltype": "normalizedStringItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2026",
     "localname": "EntityAddressCityOrTown",
     "presentation": [
      "http://www.pebblebrookhotels.com/role/DocumentandEntityInformationDocument"
     ],
     "lang": {
      "en-us": {
       "role": {
        "terseLabel": "Entity Address, City or Town",
        "label": "Entity Address, City or Town",
        "documentation": "Name of the City or Town"
       }
      }
     },
     "auth_ref": []
    },
    "dei_EntityAddressPostalZipCode": {
     "xbrltype": "normalizedStringItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2026",
     "localname": "EntityAddressPostalZipCode",
     "presentation": [
      "http://www.pebblebrookhotels.com/role/DocumentandEntityInformationDocument"
     ],
     "lang": {
      "en-us": {
       "role": {
        "terseLabel": "Entity Address, Postal Zip Code",
        "label": "Entity Address, Postal Zip Code",
        "documentation": "Code for the postal or zip code"
       }
      }
     },
     "auth_ref": []
    },
    "dei_EntityAddressStateOrProvince": {
     "xbrltype": "stateOrProvinceItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2026",
     "localname": "EntityAddressStateOrProvince",
     "presentation": [
      "http://www.pebblebrookhotels.com/role/DocumentandEntityInformationDocument"
     ],
     "lang": {
      "en-us": {
       "role": {
        "terseLabel": "Entity Address, State or Province",
        "label": "Entity Address, State or Province",
        "documentation": "Name of the state or province."
       }
      }
     },
     "auth_ref": []
    },
    "dei_EntityCentralIndexKey": {
     "xbrltype": "centralIndexKeyItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2026",
     "localname": "EntityCentralIndexKey",
     "presentation": [
      "http://www.pebblebrookhotels.com/role/DocumentandEntityInformationDocument"
     ],
     "lang": {
      "en-us": {
       "role": {
        "terseLabel": "Entity Central Index Key",
        "label": "Entity Central Index Key",
        "documentation": "A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK."
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "dei_EntityEmergingGrowthCompany": {
     "xbrltype": "booleanItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2026",
     "localname": "EntityEmergingGrowthCompany",
     "presentation": [
      "http://www.pebblebrookhotels.com/role/DocumentandEntityInformationDocument"
     ],
     "lang": {
      "en-us": {
       "role": {
        "terseLabel": "Entity Emerging Growth Company",
        "label": "Entity Emerging Growth Company",
        "documentation": "Indicate if registrant meets the emerging growth company criteria."
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "dei_EntityFileNumber": {
     "xbrltype": "fileNumberItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2026",
     "localname": "EntityFileNumber",
     "presentation": [
      "http://www.pebblebrookhotels.com/role/DocumentandEntityInformationDocument"
     ],
     "lang": {
      "en-us": {
       "role": {
        "terseLabel": "Entity File Number",
        "label": "Entity File Number",
        "documentation": "Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen."
       }
      }
     },
     "auth_ref": []
    },
    "dei_EntityIncorporationStateCountryCode": {
     "xbrltype": "edgarStateCountryItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2026",
     "localname": "EntityIncorporationStateCountryCode",
     "presentation": [
      "http://www.pebblebrookhotels.com/role/DocumentandEntityInformationDocument"
     ],
     "lang": {
      "en-us": {
       "role": {
        "terseLabel": "Entity Incorporation, State or Country Code",
        "label": "Entity Incorporation, State or Country Code",
        "documentation": "Two-character EDGAR code representing the state or country of incorporation."
       }
      }
     },
     "auth_ref": []
    },
    "dei_EntityInformationLineItems": {
     "xbrltype": "stringItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2026",
     "localname": "EntityInformationLineItems",
     "presentation": [
      "http://www.pebblebrookhotels.com/role/DocumentandEntityInformationDocument"
     ],
     "lang": {
      "en-us": {
       "role": {
        "terseLabel": "Entity Information [Line Items]",
        "label": "Entity Information [Line Items]",
        "documentation": "Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table."
       }
      }
     },
     "auth_ref": []
    },
    "dei_EntityRegistrantName": {
     "xbrltype": "normalizedStringItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2026",
     "localname": "EntityRegistrantName",
     "presentation": [
      "http://www.pebblebrookhotels.com/role/DocumentandEntityInformationDocument"
     ],
     "lang": {
      "en-us": {
       "role": {
        "terseLabel": "Entity Registrant Name",
        "label": "Entity Registrant Name",
        "documentation": "The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC."
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "dei_EntityTaxIdentificationNumber": {
     "xbrltype": "employerIdItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2026",
     "localname": "EntityTaxIdentificationNumber",
     "presentation": [
      "http://www.pebblebrookhotels.com/role/DocumentandEntityInformationDocument"
     ],
     "lang": {
      "en-us": {
       "role": {
        "terseLabel": "Entity Tax Identification Number",
        "label": "Entity Tax Identification Number",
        "documentation": "The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS."
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "dei_LocalPhoneNumber": {
     "xbrltype": "normalizedStringItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2026",
     "localname": "LocalPhoneNumber",
     "presentation": [
      "http://www.pebblebrookhotels.com/role/DocumentandEntityInformationDocument"
     ],
     "lang": {
      "en-us": {
       "role": {
        "terseLabel": "Local Phone Number",
        "label": "Local Phone Number",
        "documentation": "Local phone number for entity."
       }
      }
     },
     "auth_ref": []
    },
    "dei_PreCommencementIssuerTenderOffer": {
     "xbrltype": "booleanItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2026",
     "localname": "PreCommencementIssuerTenderOffer",
     "presentation": [
      "http://www.pebblebrookhotels.com/role/DocumentandEntityInformationDocument"
     ],
     "lang": {
      "en-us": {
       "role": {
        "terseLabel": "Pre-commencement Issuer Tender Offer",
        "label": "Pre-commencement Issuer Tender Offer",
        "documentation": "Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act."
       }
      }
     },
     "auth_ref": [
      "r3"
     ]
    },
    "dei_PreCommencementTenderOffer": {
     "xbrltype": "booleanItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2026",
     "localname": "PreCommencementTenderOffer",
     "presentation": [
      "http://www.pebblebrookhotels.com/role/DocumentandEntityInformationDocument"
     ],
     "lang": {
      "en-us": {
       "role": {
        "terseLabel": "Pre-commencement Tender Offer",
        "label": "Pre-commencement Tender Offer",
        "documentation": "Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act."
       }
      }
     },
     "auth_ref": [
      "r5"
     ]
    },
    "dei_Security12bTitle": {
     "xbrltype": "securityTitleItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2026",
     "localname": "Security12bTitle",
     "presentation": [
      "http://www.pebblebrookhotels.com/role/DocumentandEntityInformationDocument"
     ],
     "lang": {
      "en-us": {
       "role": {
        "terseLabel": "Title of 12(b) Security",
        "label": "Title of 12(b) Security",
        "documentation": "Title of a 12(b) registered security."
       }
      }
     },
     "auth_ref": [
      "r0"
     ]
    },
    "dei_SecurityExchangeName": {
     "xbrltype": "edgarExchangeCodeItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2026",
     "localname": "SecurityExchangeName",
     "presentation": [
      "http://www.pebblebrookhotels.com/role/DocumentandEntityInformationDocument"
     ],
     "lang": {
      "en-us": {
       "role": {
        "terseLabel": "Security Exchange Name",
        "label": "Security Exchange Name",
        "documentation": "Name of the Exchange on which a security is registered."
       }
      }
     },
     "auth_ref": [
      "r2"
     ]
    },
    "us-gaap_SeriesEPreferredStockMember": {
     "xbrltype": "domainItemType",
     "nsuri": "http://fasb.org/us-gaap/2026",
     "localname": "SeriesEPreferredStockMember",
     "presentation": [
      "http://www.pebblebrookhotels.com/role/DocumentandEntityInformationDocument"
     ],
     "lang": {
      "en-us": {
       "role": {
        "terseLabel": "Series E Cumulative Redeemable Preferred Shares, $0.01 par value",
        "label": "Series E Preferred Stock [Member]"
       }
      }
     },
     "auth_ref": []
    },
    "us-gaap_SeriesFPreferredStockMember": {
     "xbrltype": "domainItemType",
     "nsuri": "http://fasb.org/us-gaap/2026",
     "localname": "SeriesFPreferredStockMember",
     "presentation": [
      "http://www.pebblebrookhotels.com/role/DocumentandEntityInformationDocument"
     ],
     "lang": {
      "en-us": {
       "role": {
        "terseLabel": "Series F Cumulative Redeemable Preferred Shares, $0.01 par value",
        "label": "Series F Preferred Stock [Member]"
       }
      }
     },
     "auth_ref": []
    },
    "us-gaap_SeriesGPreferredStockMember": {
     "xbrltype": "domainItemType",
     "nsuri": "http://fasb.org/us-gaap/2026",
     "localname": "SeriesGPreferredStockMember",
     "presentation": [
      "http://www.pebblebrookhotels.com/role/DocumentandEntityInformationDocument"
     ],
     "lang": {
      "en-us": {
       "role": {
        "terseLabel": "Series G Cumulative Redeemable Preferred Shares, $0.01 par value",
        "label": "Series G Preferred Stock [Member]"
       }
      }
     },
     "auth_ref": []
    },
    "us-gaap_SeriesHPreferredStockMember": {
     "xbrltype": "domainItemType",
     "nsuri": "http://fasb.org/us-gaap/2026",
     "localname": "SeriesHPreferredStockMember",
     "presentation": [
      "http://www.pebblebrookhotels.com/role/DocumentandEntityInformationDocument"
     ],
     "lang": {
      "en-us": {
       "role": {
        "terseLabel": "Series H Cumulative Redeemable Preferred Shares, $0.01 par value",
        "label": "Series H Preferred Stock [Member]"
       }
      }
     },
     "auth_ref": []
    },
    "dei_SolicitingMaterial": {
     "xbrltype": "booleanItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2026",
     "localname": "SolicitingMaterial",
     "presentation": [
      "http://www.pebblebrookhotels.com/role/DocumentandEntityInformationDocument"
     ],
     "lang": {
      "en-us": {
       "role": {
        "terseLabel": "Soliciting Material",
        "label": "Soliciting Material",
        "documentation": "Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act."
       }
      }
     },
     "auth_ref": [
      "r4"
     ]
    },
    "us-gaap_StatementClassOfStockAxis": {
     "xbrltype": "stringItemType",
     "nsuri": "http://fasb.org/us-gaap/2026",
     "localname": "StatementClassOfStockAxis",
     "presentation": [
      "http://www.pebblebrookhotels.com/role/DocumentandEntityInformationDocument"
     ],
     "lang": {
      "en-us": {
       "role": {
        "terseLabel": "Class of Stock [Axis]",
        "label": "Class of Stock [Axis]"
       }
      }
     },
     "auth_ref": []
    },
    "dei_TradingSymbol": {
     "xbrltype": "tradingSymbolItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2026",
     "localname": "TradingSymbol",
     "presentation": [
      "http://www.pebblebrookhotels.com/role/DocumentandEntityInformationDocument"
     ],
     "lang": {
      "en-us": {
       "role": {
        "terseLabel": "Trading Symbol",
        "label": "Trading Symbol",
        "documentation": "Trading symbol of an instrument as listed on an exchange."
       }
      }
     },
     "auth_ref": []
    },
    "dei_WrittenCommunications": {
     "xbrltype": "booleanItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2026",
     "localname": "WrittenCommunications",
     "presentation": [
      "http://www.pebblebrookhotels.com/role/DocumentandEntityInformationDocument"
     ],
     "lang": {
      "en-us": {
       "role": {
        "terseLabel": "Written Communications",
        "label": "Written Communications",
        "documentation": "Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act."
       }
      }
     },
     "auth_ref": [
      "r6"
     ]
    }
   }
  }
 },
 "std_ref": {
  "r0": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Exchange Act",
   "Number": "240",
   "Section": "12",
   "Subsection": "b"
  },
  "r1": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Exchange Act",
   "Number": "240",
   "Section": "12",
   "Subsection": "b-2"
  },
  "r2": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Exchange Act",
   "Number": "240",
   "Section": "12",
   "Subsection": "d1-1"
  },
  "r3": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Exchange Act",
   "Number": "240",
   "Section": "13e",
   "Subsection": "4c"
  },
  "r4": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Exchange Act",
   "Number": "240",
   "Section": "14a",
   "Subsection": "12"
  },
  "r5": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Exchange Act",
   "Number": "240",
   "Section": "14d",
   "Subsection": "2b"
  },
  "r6": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Securities Act",
   "Number": "230",
   "Section": "425"
  }
 }
}
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>ZIP
<SEQUENCE>17
<FILENAME>0001474098-26-000042-xbrl.zip
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
begin 644 0001474098-26-000042-xbrl.zip
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MN<RGJ(TS=8BQEH7.<C2HQH*MKJ#Q))(>3A@9Z):"H@&UR'WQ0\\7#$6-/:F
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MQ<K;G[DK:W<BKH5]QLWC,#WZ!5!+ P04    " #TH+Q<+6MG8?4'  "D1
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MT#2.D!1^56ZYQ(9*0T@G5?$FV\U8&4K3M2.-=TQ*-1\>.Y";_*8R0D))CH)
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M/6X3].Q]P1%"I P&J':$[?I1 (P$(AD KE&D06_52U,&#]@@U9 .@4<?@>M
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M4V['W0(O'G<)8F9K1KC \%H7;(S_(.3I](R%6TZ>M;@^3=#\\?RI0#Y5-C<
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M/BI=E?A\$*=*]Z'[>&(?^1,V[=9.4L+EE3UP;ID732J+GKH961H>:AO:W&;
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M8BTR,#(V,#4R-RYX<V102P$"% ,4    " #TH+Q<+6MG8?4'  "D1   %
M            @ 'M%@  <&5B+3(P,C8P-3(W7V1E9BYX;6Q02P$"% ,4
M" #TH+Q<73\Z>:L,  !'?   %               @ $4'P  <&5B+3(P,C8P
M-3(W7VQA8BYX;6Q02P$"% ,4    " #TH+Q<G@^#0J@'  !:2   %
M        @ 'Q*P  <&5B+3(P,C8P-3(W7W!R92YX;6Q02P$"% ,4    " #T
MH+Q<_#XJ!;$[  "P&@0 '@              @ '+,P  <&5B,#4R.#(V8VAA
H;6)E<FQA:6YS86QE97@N:'1M4$L%!@     &  8 C@$  +AO      $!

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>18
<FILENAME>peb-20260527_htm.xml
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<XML>
<?xml version="1.0" encoding="utf-8"?>
<xbrl
  xml:lang="en-US"
  xmlns="http://www.xbrl.org/2003/instance"
  xmlns:dei="http://xbrl.sec.gov/dei/2026"
  xmlns:link="http://www.xbrl.org/2003/linkbase"
  xmlns:us-gaap="http://fasb.org/us-gaap/2026"
  xmlns:xbrldi="http://xbrl.org/2006/xbrldi"
  xmlns:xlink="http://www.w3.org/1999/xlink">
    <link:schemaRef xlink:href="peb-20260527.xsd" xlink:type="simple"/>
    <context id="c-1">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0001474098</identifier>
        </entity>
        <period>
            <startDate>2026-05-27</startDate>
            <endDate>2026-05-27</endDate>
        </period>
    </context>
    <context id="c-2">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0001474098</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:StatementClassOfStockAxis">us-gaap:CommonStockMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2026-05-27</startDate>
            <endDate>2026-05-27</endDate>
        </period>
    </context>
    <context id="c-3">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0001474098</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:StatementClassOfStockAxis">us-gaap:SeriesEPreferredStockMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2026-05-27</startDate>
            <endDate>2026-05-27</endDate>
        </period>
    </context>
    <context id="c-4">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0001474098</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:StatementClassOfStockAxis">us-gaap:SeriesFPreferredStockMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2026-05-27</startDate>
            <endDate>2026-05-27</endDate>
        </period>
    </context>
    <context id="c-5">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0001474098</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:StatementClassOfStockAxis">us-gaap:SeriesGPreferredStockMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2026-05-27</startDate>
            <endDate>2026-05-27</endDate>
        </period>
    </context>
    <context id="c-6">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0001474098</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:StatementClassOfStockAxis">us-gaap:SeriesHPreferredStockMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2026-05-27</startDate>
            <endDate>2026-05-27</endDate>
        </period>
    </context>
    <dei:AmendmentFlag contextRef="c-1" id="f-34">false</dei:AmendmentFlag>
    <dei:EntityCentralIndexKey contextRef="c-1" id="f-35">0001474098</dei:EntityCentralIndexKey>
    <dei:DocumentType contextRef="c-1" id="f-1">8-K</dei:DocumentType>
    <dei:DocumentPeriodEndDate contextRef="c-1" id="f-2">2026-05-27</dei:DocumentPeriodEndDate>
    <dei:EntityRegistrantName contextRef="c-1" id="f-3">PEBBLEBROOK HOTEL TRUST</dei:EntityRegistrantName>
    <dei:EntityIncorporationStateCountryCode contextRef="c-1" id="f-4">MD</dei:EntityIncorporationStateCountryCode>
    <dei:EntityFileNumber contextRef="c-1" id="f-5">001-34571</dei:EntityFileNumber>
    <dei:EntityTaxIdentificationNumber contextRef="c-1" id="f-6">27-1055421</dei:EntityTaxIdentificationNumber>
    <dei:EntityAddressAddressLine1 contextRef="c-1" id="f-7">4747 Bethesda Avenue</dei:EntityAddressAddressLine1>
    <dei:EntityAddressAddressLine2 contextRef="c-1" id="f-8">Suite 1100</dei:EntityAddressAddressLine2>
    <dei:EntityAddressCityOrTown contextRef="c-1" id="f-9">Bethesda</dei:EntityAddressCityOrTown>
    <dei:EntityAddressStateOrProvince contextRef="c-1" id="f-10">MD</dei:EntityAddressStateOrProvince>
    <dei:EntityAddressPostalZipCode contextRef="c-1" id="f-11">20814</dei:EntityAddressPostalZipCode>
    <dei:CityAreaCode contextRef="c-1" id="f-12">240</dei:CityAreaCode>
    <dei:LocalPhoneNumber contextRef="c-1" id="f-13">507-1300</dei:LocalPhoneNumber>
    <dei:WrittenCommunications contextRef="c-1" id="f-14">false</dei:WrittenCommunications>
    <dei:SolicitingMaterial contextRef="c-1" id="f-15">false</dei:SolicitingMaterial>
    <dei:PreCommencementTenderOffer contextRef="c-1" id="f-16">false</dei:PreCommencementTenderOffer>
    <dei:PreCommencementIssuerTenderOffer contextRef="c-1" id="f-17">false</dei:PreCommencementIssuerTenderOffer>
    <dei:Security12bTitle contextRef="c-2" id="f-18">Common Shares, $0.01 par value per share</dei:Security12bTitle>
    <dei:TradingSymbol contextRef="c-2" id="f-19">PEB</dei:TradingSymbol>
    <dei:SecurityExchangeName contextRef="c-2" id="f-20">NYSE</dei:SecurityExchangeName>
    <dei:Security12bTitle contextRef="c-3" id="f-21">Series E Cumulative Redeemable Preferred Shares, $0.01 par value</dei:Security12bTitle>
    <dei:TradingSymbol contextRef="c-3" id="f-22">PEB-PE</dei:TradingSymbol>
    <dei:SecurityExchangeName contextRef="c-3" id="f-23">NYSE</dei:SecurityExchangeName>
    <dei:Security12bTitle contextRef="c-4" id="f-24">Series F Cumulative Redeemable Preferred Shares, $0.01 par value</dei:Security12bTitle>
    <dei:TradingSymbol contextRef="c-4" id="f-25">PEB-PF</dei:TradingSymbol>
    <dei:SecurityExchangeName contextRef="c-4" id="f-26">NYSE</dei:SecurityExchangeName>
    <dei:Security12bTitle contextRef="c-5" id="f-27">Series G Cumulative Redeemable Preferred Shares, $0.01 par value</dei:Security12bTitle>
    <dei:TradingSymbol contextRef="c-5" id="f-28">PEB-PG</dei:TradingSymbol>
    <dei:SecurityExchangeName contextRef="c-5" id="f-29">NYSE</dei:SecurityExchangeName>
    <dei:Security12bTitle contextRef="c-6" id="f-30">Series H Cumulative Redeemable Preferred Shares, $0.01 par value</dei:Security12bTitle>
    <dei:TradingSymbol contextRef="c-6" id="f-31">PEB-PH</dei:TradingSymbol>
    <dei:SecurityExchangeName contextRef="c-6" id="f-32">NYSE</dei:SecurityExchangeName>
    <dei:EntityEmergingGrowthCompany contextRef="c-1" id="f-33">false</dei:EntityEmergingGrowthCompany>
</xbrl>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
