Pebblebrook Hotel Trust (PEB) Earnings: Q3 2026 Results

The quarter ended September 30, 2026 and Pebblebrook Hotel Trust published the results on October 29, 2026. Revenue and diluted EPS are shown against Q3 2025, the same quarter a year earlier, which takes seasonal swings out of the comparison. Pebblebrook Hotel Trust reports EPS two ways: GAAP, under the accounting rules every US filer follows, and Adjusted FFO per diluted share, which leaves out items the company considers outside its operating results. The release reconciles the two, and when they diverge, the reconciliation says why.

• Pebblebrook Hotel Trust is a REIT. Revenue here is the "Total revenues" line of its GAAP statement of operations, and the rows above are that statement's revenue lines (room, food and beverage, other operating), not reporting segments. The adjusted line is Adjusted FFO per diluted share, a non-GAAP measure Pebblebrook reconciles to net income (loss) in its release.
• Pebblebrook's Same-Property figures cover hotels it owned at September 30, 2026; Chamberlain West Hollywood Hotel is included in Q1 only because it was later sold. Same-Property Total Revenues ($400.6 million) therefore differ from GAAP total revenues.

Source: Pebblebrook Hotel Trust Q3 2026 results, October 29, 2026. Also in the Form 10-Q for the quarter ended September 30, 2026. Figures as reported; checked against the release on November 10, 2026.

How Pebblebrook Hotel Trust splits revenue in its own release, under its own labels, for Q3 2026 against Q3 2025. Indented lines are parts of the line above them.

• Pebblebrook Hotel Trust's Room revenue was $258 million in Q3 2026, up 1% from $255 million in Q3 2025, 64% of total revenue.
• Pebblebrook Hotel Trust's Food and beverage revenue was $96.3 million in Q3 2026, flat on $96.2 million in Q3 2025, 24% of total revenue.
• Pebblebrook Hotel Trust's Other operating revenue was $48.2 million in Q3 2026, up 1% from $47.9 million in Q3 2025, 12% of total revenue.

Segment lines are the figures writers cite most often, because they show where the growth in a quarter came from. Companies redraw their segments from time to time and restate the prior year to match, so a year-ago figure here can differ from the one printed a year ago. When that has happened, the note above says so.

From the earnings release

In its Q3 2026 release, Pebblebrook Hotel Trust said:

“Net loss: ($60.5) to ($56.5) million.”

“Same-Property RevPAR Growth Rate: +7.6% to +8.0%; midpoint +280 basis points from prior Outlook.”

“Adjusted FFO per diluted share: $1.88 to $1.92; midpoint +$0.17 and +20.3% vs. 2025.”

“Free Cash Flow: $146.0 to $150.0 million; midpoint +$24.5 million.”

Source: Pebblebrook Hotel Trust Q3 2026 release, Oct 29, 2026.

This is the company's own guidance as of Oct 29, 2026, quoted as given. Walnut does not make forecasts of its own. Analyst estimates for the coming quarters are on the PEB forecast page.

Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.

GAAP total revenues and diluted net income (loss) per common share, each as first reported in that quarter's release.

We do not hold a confirmed date for Pebblebrook Hotel Trust's next report. Companies post the date on their investor relations site a few weeks ahead, usually with the time of the conference call.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q3 2026 (this page), reported Oct 29, 2026

Pebblebrook Hotel Trust's total revenues were $402.7 million in Q3 2026, against $398.7 million a year earlier. Room revenue was $258.3 million, food and beverage $96.3 million and other operating revenue $48.2 million. Food and beverage and other operating revenue were close to flat on the year; room revenue rose to $258.3 million from $254.6 million. (Pebblebrook Hotel Trust Q3 2026 release, Oct 29, 2026)

On its Same-Property basis, Pebblebrook said RevPAR rose 8.3% to $256.66, driven by ADR up 7.0% to $318.52 and occupancy of 80.6% against 79.6%. Same-Property Total Revenues rose 6.9% to $400.6 million. Resort RevPAR rose 8.4% and Urban RevPAR 8.3%, with San Francisco up 14.5%, Chicago 12.7%, Los Angeles 10.7%, Boston 10.6% and Washington, DC 9.1%. Transient ADR rose 8.5%. (Pebblebrook Hotel Trust Q3 2026 release, Oct 29, 2026)

The 10-Q breaks revenue down by location. San Diego was the largest market at $103.1 million, followed by Boston at $81.5 million, Southern Florida/Georgia at $48.5 million, Los Angeles at $43.5 million and San Francisco at $43.0 million, up from $38.4 million. The "Other" line, which covers Chicago, Newport and Santa Cruz, fell to $43.7 million from $56.5 million. (Pebblebrook Hotel Trust Form 10-Q, Q3 2026, Oct 29, 2026)

Reported revenue grew far less than Same-Property revenue because Pebblebrook has been selling hotels. It owned interests in 44 hotels with 11,052 guest rooms at December 31, 2025, and now owns 42 hotels with about 10,800 rooms across 14 urban and resort markets. It sold The Hotel Zags in Portland for $10.0 million on October 8, 2026, bringing 2026 property sales to $53.5 million, and said it completed nearly $170 million of dispositions over the past year. (Pebblebrook Hotel Trust Form 10-K, 2025, Feb 25, 2026; Pebblebrook Hotel Trust Q3 2026 release, Oct 29, 2026)

Pebblebrook Hotel Trust's net loss per common share widened to $0.56 from $0.37, mainly because of $77.3 million of non-cash impairment charges recorded in connection with The Hotel Zags sale and its review of further dispositions. The year-ago quarter carried $46.5 million of impairment. Interest expense rose to $25.9 million from $20.2 million, and net loss attributable to the company was $55.0 million against $33.1 million. (Pebblebrook Hotel Trust Q3 2026 release, Oct 29, 2026)

Adjusted FFO per diluted share, the measure Pebblebrook guides on, rose 23.5% to $0.63 from $0.51, and Adjusted FFO rose 18.9% to $71.6 million. FFO adds back real estate depreciation and amortization ($51.7 million) and impairment to net income (loss); Adjusted FFO also removes items such as non-cash ground rent, share-based compensation and the deferred tax provision. FFO per diluted share was $0.57. (Pebblebrook Hotel Trust Q3 2026 release, Oct 29, 2026)

Buybacks lifted the per-share figure. Pebblebrook repurchased 1.2 million common shares for $20.9 million at an average $18.12 in the quarter and 20.6 million shares, about 16% of those outstanding, since October 2022. Weighted-average common shares were 112,170,743 against 117,555,628 a year earlier. It also bought back 0.4 million preferred shares for $7.2 million at a 23% average discount to liquidation preference, and paid a common dividend of $0.01 per share. (Pebblebrook Hotel Trust Q3 2026 release, Oct 29, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

Pebblebrook Hotel Trust publishes a numeric outlook in each release and raised it again for full year 2026: Adjusted FFO per diluted share of $1.88 to $1.92, Adjusted EBITDAre of $363.3 to $367.3 million, Same-Property RevPAR growth of 7.6% to 8.0% and a net loss of ($60.5) to ($56.5) million. Of the $16.3 million increase in the Adjusted EBITDAre midpoint, $13.4 million came from the third-quarter beat and $2.9 million from higher fourth-quarter expectations. (Pebblebrook Hotel Trust Q3 2026 release, Oct 29, 2026)

For Q4 2026 the release guides Adjusted FFO per diluted share of $0.26 to $0.30 and Same-Property RevPAR growth of 4.0% to 6.0%. The outlook reflects the sale of The Hotel Zags and assumes no acquisitions and no additional dispositions. Pebblebrook expects to repay its $350 million of convertible notes due in December 2026 from cash, free cash flow and term loan capacity. (Pebblebrook Hotel Trust Q3 2026 release, Oct 29, 2026)

A consensus figure is the average of the models published by the analysts who cover Pebblebrook Hotel Trust, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones Pebblebrook Hotel Trust's own release and filings put weight on for Q3 2026, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning PEB is on is PEB a buy or a sell?, what analysts expect next is on the PEB forecast, and what the company does is on the Pebblebrook Hotel Trust (PEB) stock page.

Every number on this page can be traced to a document Pebblebrook Hotel Trust published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.