Pebblebrook Hotel Trust is an internally managed real estate investment trust that owns and invests in upper-upscale, full-service hotels and resorts primarily located in major U.S. cities and gateway coastal markets, such as Boston, Chicago, Los Angeles, San Francisco, and Washington D.C. The company pursues properties in premier locations with competitive advantages, market barriers to entry, and acquisition prices below replacement cost, targeting long-term value creation through operational improvements, rebranding, and capital enhancements while working with third-party operators to manage day-to-day hotel operations. The company generates revenue from guest room stays and other hotel operations managed by independent contractors, finances growth through equity and debt issuances, and is a founding member of the Curator Hotel & Resort Collection, an owner-centric platform for independent lifestyle hotels worldwide.