Pebblebrook Hotel Trust
For the period ended Dec 31, 2025. Filed Feb 25, 2026.
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FY2025 · Filed Feb 25, 2026
PEB$22.22+2.1%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
| Pebblebrook Hotel TrustConsolidated Statements of Cash Flows(in thousands) | |||
|---|---|---|---|
| For the year ended December 31, | |||
| 2025 | 2024 | 2023 | |
| Operating activities: | |||
| Net income (loss) | $(62,230) | $16 | $(74,276) |
| Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | |||
| Depreciation and amortization | 227,659 | 229,531 | 240,645 |
| Provision (benefit) for deferred income taxes | 4,197 | (28,483) | — |
| Share-based compensation | 13,717 | 13,602 | 12,545 |
| Gain on insurance settlement | (4,747) | (24,824) | — |
| Amortization of deferred financing costs, non-cash interest and other amortization | 12,508 | 14,329 | 12,124 |
| Gain on sale of hotel properties | — | — | (30,375) |
| Gain on extinguishment of debt | (6,472) | — | — |
| Impairment | 48,871 | 48,146 | 81,788 |
| Non-cash ground rent | 9,638 | 9,843 | 9,898 |
| Other adjustments | (831) | (5,331) | (7,801) |
| Changes in assets and liabilities: | |||
| Hotel receivables | 4,024 | 5,037 | 1,171 |
| Prepaid expenses and other assets | (5,929) | 8,889 | (11,190) |
| Accounts payable and accrued expenses | (8,544) | (14,471) | (5,860) |
| Deferred revenues | 17,868 | 18,718 | 7,528 |
| Net cash provided by (used in) operating activities | 249,729 | 275,002 | 236,197 |
| Investing activities: | |||
| Improvements and additions to hotel properties | (97,396) | (128,750) | (200,634) |
| Proceeds from sales of hotel properties | 102,636 | — | 314,941 |
| Property insurance proceeds | 5,559 | 36,802 | 30,210 |
| Other investing activities | (481) | (885) | (2,495) |
| Net cash provided by (used in) investing activities | 10,318 | (92,833) | 142,022 |
| Financing activities: | |||
| Payment of deferred financing costs | (11,001) | (22,104) | (2,710) |
| Borrowings under revolving credit facilities | — | — | 10,000 |
| Repayments under revolving credit facilities | — | — | (10,000) |
| Proceeds from debt | 400,000 | 400,000 | 140,000 |
| Repayments of debt | (511,201) | (465,432) | (211,088) |
| Purchases of capped calls for convertible senior notes | (27,240) | — | — |
| Repurchases of common shares | (72,647) | (16,851) | (92,753) |
| Repurchases of preferred shares | (6,063) | — | (15,790) |
| Distributions — common shares/units | (4,764) | (4,866) | (4,971) |
| Distributions — preferred shares/units | (47,160) | (47,182) | (48,607) |
| Other financing activities | (1,359) | (1,784) | (928) |
| Net cash provided by (used in) financing activities | (281,435) | (158,219) | (236,847) |
| Net change in cash and cash equivalents and restricted cash | (21,388) | 23,950 | 141,372 |
| Cash and cash equivalents and restricted cash, beginning of year | 217,591 | 193,641 | 52,269 |
| Cash and cash equivalents and restricted cash, end of year | $196,203 | $217,591 | $193,641 |
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