Pebblebrook Hotel Trust10319 Westlake Dr., Ste. 112
Bethesda, MD 20817
Company Web Site | | Phone: 301-765-6045
| | | |
Pebblebrook Hotel Trust wants the term staycation to take a vacation. The self-managed real estate investment trust (REIT) formed in 2009 to invest in hotels in US coastal cities, at a time when many hospitality companies could use the extra cash. Pebblebrook plans to buy full-service and select-service luxury properties that don't need a major renovation. It filed an initial public offering (IPO) to raise about $400 million in October 2009 but doesn't yet have any properties in its portfolio. As a REIT, Pebblebrook will not operate its hotels; they will be leased and managed by contractors. Pebblebrook Hotel Trust is the brainchild of Jon Bortz, who had similar luck as the founder of LaSalle Hotel Properties.
 IPO Information
Status:
TBA
Filing Date:
Oct 9, 2009
Proposed Offer Price:
$20.00 to
$20.00
Shares Offered (mil.):
17.50
Offering Amount (mil.):
$350.00
Post-Offering Shares (mil.):
17.65
Underwriters:
Merrill Lynch, Pierce, Fenner & Smith Incorporated; Raymond James & Associates, Inc.; Wells Fargo Securities, LLC; Calyon Securities (USA), Inc.; RBC Capital Markets Corporation
| | Key Numbers
Company Type:
Private
NYSE:
PEB Proposed
Fiscal Year-End: December
Key People
President, CEO, and Director
Jon E. Bortz
| |
