Attached files
| file | filename |
|---|---|
| 8-K - FORM 8-K - Pebblebrook Hotel Trust | w80749e8vk.htm |
| EX-10.2 - EX-10.2 - Pebblebrook Hotel Trust | w80749exv10w2.htm |
| EX-10.3 - EX-10.3 - Pebblebrook Hotel Trust | w80749exv10w3.htm |
| EX-10.5 - EX-10.5 - Pebblebrook Hotel Trust | w80749exv10w5.htm |
| EX-99.1 - EX-99.1 - Pebblebrook Hotel Trust | w80749exv99w1.htm |
| EX-10.4 - EX-10.4 - Pebblebrook Hotel Trust | w80749exv10w4.htm |
| EX-10.1 - EX-10.1 - Pebblebrook Hotel Trust | w80749exv10w1.htm |
Exhibit 99.2
| Property Information: Rooms: Type: Built:/Converted: Property Amenities: (1) Acquisition Price: Location: Acquired: $87.OM ($284K per room) Philadelphia, PA December 3, 2010 306 Upper-Upscale, Full-Service 1964; 2000 ;1] Property Amenities: •306 guest rooms, including 68 suites • Historic building once housed the Philadelphia Stock Exchange • Four-fixture bathrooms with French bathroom amenities •Two floors totaling approximately 15,000 SF of meeting space, including the 4,500-SF Paris Ballroom • Chez Colette, a charming brasserie offering French-style breakfast cuisine • Liberte, a chic bar and lounge overlooking the streetscape, serving lunch and dinner • Fitness center • On-site indoor parking Market Highlights:- Market Overview: •The Philadelphia downtown submarket has office space totaling over total 40 million square feet. •The Philadelphia Center City hotel market has a trailing twelve month occupancy of 72%, which represents a solid base for additional occupancy and rate growth. • Convention center expansion is expected to double its available exhibition space in spring 2011 and attract more city-wide conventions. Well educated population with top-tier educational institutions including: University of Pennsylvania, Temple University, Villanova University and Drexel University. ghlights:;0] Demand Generators: Philadelphia Convention Center is in the process of a major expansion that is projected to yield - A significant increase in room nights annually - More than $140 miion in annual economic impact Large quantity of leisure demand generators: - Franklin Institute of Science - Independence Hall Visitor Center - Liberty Bell - National Constitution Center - Philadelphia Museum of Art - Philadelphia Zoo - African American Museum - Barnes Foundation - Pennsylvania Academy of Fine Art Five major professional sports teams ;1] sofitel philadelphia philadelphia, Pennsylvania Historical Performance and Valuation: Estimated Discount to Replacement Cost: 30% — 35% 2009 Occupancy 77% 2009ADR; $169 Forward 12-Month Cap Rate (Projected NOl)(1): 4.4% — 5.1% (1) Based on previously disclosed forecasted net operating income after capital reserves Hotels Sofitel Phi/a de/phia Westin Philadelphia Hyatt at The Belleview Ritz-Carlton Philadelphia Loews Philadelphia Hilton The Inn © Penn Total (excluding the Sofitel Philadelphia) Competitive Set:;0] Map Marker T Rooms 306 294 172 299 581 238 1,584 Year Opened 2000 1990 1904 2000 2000 1999 -i ighlights:;0] I Investment Strengths Opportunities • High barriers to entry Convention center expansion • Premiere Center City location Bar/restaurant reconfiguration • High-quality asset Improved cash flow through • Strong market performance history asset management •Attractive contemporary design Enhanced revenue management • Significant discount to replacement cost and positioning strategies This summary information sheet contaihs certain ‘Torward-looking“statements relating to, among otherthihgs, hotel EB/TDA and hotel net operating income after capitalreserves. The forward-looking statements made are based on our beliefs, assumptions and expectations of future performance, takihgihto account all ihformation currentlyavailable to us. Actual results could differ materially from the forward-looking statements made on this summary ihformation sheet When we use the words orojected, “expected, “and “esthnated“or other similar expressions, we are identifyihg forward-looking statements. The forward-lookihg statements on this summary information sheet are subject to the safe harborofthe Private Securities Uti’ation Reform Act of 1995. All information on this sheet is as of December 3, 2010. We undertake no duly to update the ihformation to conform to actual results or changes in our expectations. Foradditional ihformation, please visit our website at wwwpebblebrook hotelacom |