Pebblebrook Hotel Trust Provides Update on Reopening of LaPlaya Beach Resort & Club Following Hurricane Irma
November 20 2017 - 8:00AM
Business Wire
Pebblebrook Hotel Trust (NYSE:PEB) (the “Company”) today
announced the partial reopening of the 189-room LaPlaya Beach
Resort & Club (“LaPlaya”) following repair and restoration work
to remediate the wind and water damage caused by Hurricane
Irma.
On November 17, 2017, the resort’s Beach House (79 guestrooms)
and Bay Tower (40 guestrooms) were reopened for guests following
the completion of repair and remediation work. In addition,
LaPlaya’s lobby, restaurant, bar and exterior pool areas also
reopened. The full restoration of LaPlaya, including the renovation
of the Gulf Tower (70 guestrooms), continues to be on target for
completion early in the first quarter of 2018.
“We are extremely grateful for our team’s hard work in
expeditiously completing the restoration work at LaPlaya,” said Jon
Bortz, Chairman, President and Chief Executive Officer of
Pebblebrook Hotel Trust. “The efforts made by the property team
have been essential to our quick turnaround and will continue to be
critical as we ramp up operations for the winter season in
Naples.”
The Company has initiated its property, flood and business
interruption policies and will continue to evaluate the financial
impact of the resort’s closure. The Company expects to provide an
update on the insurance claims in early 2018, but will not likely
finalize all claims and proceeds until later next year.
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 6,972 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.
All information in this press release is as of November 20,
2017. 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’s expectations.
For additional information or to receive press
releases via email, please visit our website at
www.pebblebrookhotels.com
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version on businesswire.com: http://www.businesswire.com/news/home/20171120005258/en/
Pebblebrook Hotel TrustRaymond D. Martz, 240-507-1330Chief
Financial Officer
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