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.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.