Pebblebrook Hotel Trust Buys "W" for $125M

Pebblebrook Hotel Trust (PEB) announced that it has acquired the W Los Angeles - Westwood hotel for $125 million. The 258-room, all-suite, luxury, full-service hotel is located in the Westwood neighborhood of Los Angeles, California. The property will continue to be managed by Starwood Hotels and Resorts (HOT). PEB shares are unchanged at $23.19 in late trade. HOT shares are unchanged at $53.30.