Pebblebrook Hotel Trust (NYSE:PEB) Q2 2024 Earnings Conference Call July 25, 2024 9:30 AM ET
Company Participants
Raymond Martz - Co-President and CFO
Jon Bortz - Chairman and CEO
Conference Call Participants
Dori Kesten - Wells Fargo
Floris van Dijkum - Compass Point
Ari Klein - BMO Capital Markets
Duane Pfennigwerth - Evercore ISI
Bill Crow - Raymond James
Jay Kornreich - Wedbush Securities
Shaun Kelley - Bank of America
Michael Bellisario - Baird
Operator
Greetings and welcome to the Pebblebrook Hotel Trust Second Quarter Earnings Call. [Operator Instructions] As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Raymond Martz, Co-President and Chief Financial Officer. Thank you. Please go ahead.
Raymond Martz
Thank you, Donna. Good morning, everyone. Welcome to our second quarter 2024 earnings call and webcast. Joining me today is Jon Bortz, our Chairman and Chief Executive Officer; and Tom Fisher, our Co-President and Chief Investment Officer.
Before we begin, please note today’s comments are effective only for today, July 25, 2024, and our comments may include forward-looking statements as defined under federal securities laws, and actual results could differ materially from those discussed today. For a comprehensive analysis of potential risks, please consult our most recent SEC filings and visit our website for additional details and reconciliations of any non-GAAP financial measures we use.
Now let’s move on to our second quarter results. We are pleased to share that our second quarter bottom line financial results well exceeded our outlook. Overall, hotel demand met our expectations, driven by healthy corporate group, business transient and solid leisure demand across most of our urban markets and resorts. Our newly redeveloped and repositioned properties are also performing well, capturing market share and improving cash flows, in line or exceeding our ramp-up expectations.
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