Pebblebrook's Q4 beat and San Francisco recovery make for a great earnings narrative, but when you peel back the full-year net loss, the impairment charges, and a 2026 outlook that still might land in the red, "confident" starts to look like a very specific word choice for a very specific audience.
Operations
Primary
Mar 10
RLJ Lodging Trust pushed its debt maturities out to 2029-2033 while RevPAR is declining. The refinancing math works on paper, but "works" depends on which line you stop reading at.
RLJ Lodging Trust's full-year RevPAR dropped 1.7%, net income cratered 58%, and EBITDA fell 7.5%... but they're calling it a highly productive year. The math is interesting. So is the strategy behind it.
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