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Pebblebrook Snapshot
Pebblebrook Hotel Trust wants the term staycation to take a vacation. The self-managed real estate investment trust (REIT) formed in 2009 to invest in upscale hotels in the US at a time when many hospitality companies could use the extra cash. Pebblebrook's investment targets include full-service and select-service luxury properties that don't need major renovation. It had its initial public offering (IPO) in December 2009, raising more than $350 million. The REIT has primarily used proceeds from the offering to buy properties to grow its portfolio, which consists of around 10 hotels. Pebblebrook Hotel Trust is the brainchild of CEO Jon Bortz, who was also the founder of LaSalle Hotel Properties.
