Pebblebrook Hotel Trust reported Q3 2020 results showing a steady but slow recovery in hotel demand leading to improved operating performance and a continuing reduction in hotel and corporate cash burn. The company's resort portfolio generated $12.6 million of Hotel EBITDA, with an occupancy of 51.3 percent and an ADR of $302.78.
39 hotels and resorts currently open, which is approximately three-fourths of the Company’s portfolio.
Demand in the third quarter continued to increase from the second quarter’s all-time low, with healthy leisure business throughout the quarter and a modest post-Labor Day improvement in business travel
Monthly hotel portfolio cash burn is currently running at $5 to $8 million.
As of September 30, 2020, cash on hand of $217.0 million and liquidity of $570.2 million.
The Company continues to be unable to provide an outlook due to the uncertainties caused by the COVID-19 pandemic. It intends to issue new guidance when it has more clarity on government restrictions, advances in health solutions, the economy, travel demand, and more predictable overall operating fundamentals and trends.
Visualization of income flow from segment revenue to net income
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