BETHESDA, Md.--(BUSINESS WIRE)--Pebblebrook Hotel Trust (NYSE: PEB) (the “Company”) today announced that it has experienced no significant property damage or injuries at its two hotels located in Florida as a result of Hurricane Irma.
Hotel Colonnade Coral Gables (“Hotel Colonnade”), located in Coral Gables, Florida, remained open during Hurricane Irma and remains open, serving the needs of guests. The hotel incurred wind and water related damage from the hurricane, but the Company believes this damage is not material, barring the Company’s completion of a full property inspection and assessment of the hotel.
LaPlaya Beach Resort & Club (“LaPlaya”), a waterfront luxury resort located in Naples, Florida, closed starting Saturday, September 9, 2017, following a mandatory evacuation order issued by Collier County. LaPlaya sustained wind and water related damage from the hurricane. The Company does not believe there has been material property destruction to the resort. The hotel will remain closed as the Company completes a full review and assessment of the condition of the property, which contains four buildings situated on six acres of beachfront property on the Gulf of Mexico. The Company will be working diligently to make repairs and reopen the resort as soon as possible. The Company will utilize its property, flood and business interruption insurance policies as needed.
“Our thoughts and prayers are with the countless people and communities who have been impacted by Hurricane Harvey and Hurricane Irma as they recover from these devastating storms,” said Jon Bortz, Chairman, President and Chief Executive Officer of Pebblebrook Hotel Trust. “Our management teams and associates at LaPlaya and Hotel Colonnade have responded in an incredible way, making significant personal sacrifices while providing safety to our guests, catering to their needs and providing support for their respective communities. The recent hurricanes directly impacted travel in Texas and Florida, and also disrupted travel to many other markets, as business and leisure travelers have been unable to reach their destinations. However, we expect these travel disruptions to be short-term.”
About Pebblebrook Hotel Trust
Pebblebrook Hotel Trust is a publicly traded real estate investment trust (“REIT”) organized to opportunistically acquire and invest primarily in upper upscale, full-service hotels located in urban markets in major gateway cities. The Company owns 28 hotels, with a total of 6,970 guest rooms. The Company owns hotels located in 9 states and the District of Columbia, including: Los Angeles, California (Beverly Hills, Santa Monica and West Hollywood); San Diego, California; San Francisco, California; Washington, DC; Coral Gables, Florida; Naples, Florida; Buckhead, Georgia; Boston, Massachusetts; Minneapolis, Minnesota; Portland, Oregon; Philadelphia, Pennsylvania; Nashville, Tennessee; Columbia River Gorge, Washington; and Seattle, Washington. For more information, please visit us at www.pebblebrookhotels.com and follow us on Twitter at @PebblebrookPEB.
