US-based real estate investment trust Pebblebrook Hotel Trust has reported a 1.7% increase in pro forma revenue per available room (RevPAR) in the third quarter of 2011.
Pro forma RevPAR for the first nine months of the year has increased by 9% year-on-year.
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For the quarter, pro forma average daily rate (ADR) increased by 7.6% and occupancy rose by 2.8% to 84%.
Year-to-date, pro forma ADR increased by 8.5% from the comparable period of 2010 and occupancy rose by 0.5% to 78.2%.
During the third quarter, the trust generated $29.6m of pro forma hotel earnings before interest, taxes, depreciation and amortisation (EBITDA) – an increase of 20.7% compared with the same period last year.
Year-to-date, the trust’s hotels generated $57.3m of pro forma hotel EBITDA – an increase of 17.6% compared with the same period of 2010.
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By GlobalData
