Pebblebrook Hotel Trust Buys Embassy Suites San Diego Bay for $112.5M

Pebblebrook Hotel Trust (NYSE: PEB) (the “Company”) today announced that ithas acquired the Embassy Suites San Diego Bay – Downtown for $112.5 million.The 337-suite, urban, upper upscale, full service hotel is located in downtownSan Diego, California. The property will be managed by HEI Hotels and Resorts(“HEI”). As a part of this transaction, the Company is assuming a $66.8million secured, non-recourse loan, with the balance of the purchase pricebeing funded by the Company with available cash.The 337-suite Embassy Suites San Diego Bay – Downtown benefits from a highlyvisible and easily accessible location at the intersection of Harbor Drive andPacific Highway in downtown San Diego, just blocks away from the Company'srecently renovated Westin Gaslamp Quarter. The location is ideal forconvention and leisure travelers alike, within walking distance of the city'sleading attractions and demand generators, including the San Diego ConventionCenter, Seaport Village, San Diego Trolley Station, Horton Plaza ShoppingMall, the U.S.S. Midway Aircraft Carrier Museum, PETCO Park and countlessrestaurants and entertainment options in the historic Gaslamp Quarter. Thehotel is also located minutes from the renowned San Diego Zoo, Sea World,Coronado Island, Balboa Park Museums, Old Town, Qualcomm Stadium, the SanDiego Sports Arena, San Diego Naval Pier, San Diego State University,University of California at San Diego and University of San Diego.