Shares of Pebblebrook Hotel Trust fell 0.5% in premarket trading Friday, after the real estate investment trust (REIT) focused on hotel properties said it...
Shares of Pebblebrook Hotel Trust PEB fell 0.5% in premarket trading Friday, after the real estate investment trust focused on hotel properties said it expects revenue per available room to fall slightly below expectations. The REIT said weekend leisure demand has weakened over the last several weeks, due in part to cooler weather in Southern California and the Pacific Northwest, as well as less “leisure splurge” for suites and premium rooms.
5% in premarket trading Friday, after the real estate investment trust focused on hotel properties said it expects revenue per available room to fall slightly below expectations. The REIT said weekend leisure demand has weakened over the last several weeks, due in part to cooler weather in Southern California and the Pacific Northwest, as well as less “leisure splurge” for suites and premium rooms. The company said the Hollywood writers’ strike was also hurting business demand in Los Angeles.
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