Pebblebrook Hotel Trust (PEB) [Rocket]

In millions, except per share items	Dec-31-21	Dec-31-20	Dec-31-19	Dec-31-18	Dec-31-17	Dec-31-16	Dec-31-15	Dec-31-14
	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K
Revenues:
Food and beverage							190.9	148.1
Room							526.6	410.6
Other operating							53.4	40.1
Total revenues [+]	733.0	442.9	1,612.2	828.7	769.3	816.4	770.9	598.8
Food & beverage							190.9	148.1
Room / occupancy							526.6	410.6
Other hotel							53.4	40.1
Revenue growth [+]	65.5%	-72.5%	94.6%	7.7%	-5.8%	5.9%	28.7%	22.4%
Food and beverage							28.9%	8.5%
Room							28.2%	27.7%
Other operating							33.4%	29.0%
Cost of goods sold [+]	224.3	224.6	234.9	108.5	102.3	483.9	468.1	374.0
Food and beverage costs							128.8	104.8
Occupancy costs							124.1	102.7
Other direct hotel costs							215.2	166.4
Gross profit	508.8	218.3	1,377.3	720.2	667.0	332.5	302.8	224.8
Gross margin	69.4%	49.3%	85.4%	86.9%	86.7%	40.7%	39.3%	37.5%
Selling, general and administrative [+]	38.2	45.2	34.0	20.9	20.1	27.9	32.3	28.3
General and administrative [+]	38.2	45.2	34.0	20.9	20.1	27.9	32.3	28.3
General and administrative expenses	38.2	45.2	34.0	20.9	20.1	27.9	32.3	28.3
Equity in earnings						-64.8	6.2	-10.1
Other operating expenses	545.5	380.8	1,105.3	557.2	511.5	21.9	46.9	36.9
EBITDA [+]	149.4	17.0	472.9	250.5	237.7	217.8	229.7	149.5
EBITDA growth	781.5%	-96.4%	88.8%	5.4%	9.2%	-5.2%	53.6%	37.0%
EBITDA margin	20.4%	3.8%	29.3%	30.2%	30.9%	26.7%	29.8%	25.0%
Depreciation and amortization	224.3	224.6	234.9	108.5	102.3	102.4	95.9	68.3
EBIT [+]	-74.8	-207.6	238.0	142.0	135.5	115.4	133.8	81.2
EBIT growth	-64.0%	-187.2%	67.6%	4.9%	17.4%	-13.8%	64.8%	51.5%
EBIT margin	-10.2%	-46.9%	14.8%	17.1%	17.6%	14.1%	17.4%	13.6%
Non-recurring items [+]	15.0	85.1	8.7	75.0	0.1	0.2
Asset impairment	14.9	74.6
Interest expense, net [+]	96.6	104.1	108.5	53.9	37.3	41.6	36.3	24.5
Interest expense	96.6	104.1	108.5	53.9	37.3	43.6	38.8	27.1
Interest income						2.0	2.5	2.5
Other income (expense), net [+]	0.1	0.5	0.0	2.1	2.4	0.3		20.1
Gain (loss) on sale of assets	-64.7	-117.4	-2.8	2.1
Other	0.1	0.5	0.0	2.1	2.4	0.3
Pre-tax income	-186.3	-396.3	120.9	15.1	100.4	73.8	97.6	76.8
Income taxes	0.1	-3.7	5.2	1.7	0.2	-0.1	2.6	3.3
Tax rate		0.9%	4.3%	11.5%	0.2%		2.7%	4.2%
Minority interest	-1.5	-0.9	0.3	0.0	0.4	0.3	0.3	0.7
Net income	-235.0	-424.3	82.9	-4.1	83.8	47.0	68.7	47.8
Net margin	-32.1%	-95.8%	5.1%	-0.5%	10.9%	5.8%	8.9%	8.0%

Basic EPS [+]	($1.80)	($3.25)	$0.64	($0.05)	$1.20	$0.65	$0.96	$0.73
Growth	-44.7%	-611.3%	-1258.7%	-104.6%	84.4%	-31.9%	31.6%	124.2%
Diluted EPS [+]	($1.80)	($3.25)	$0.63	($0.05)	$1.20	$0.65	$0.95	$0.72
Growth	-44.7%	-612.3%	-1256.5%	-104.6%	84.6%	-31.7%	31.6%	123.4%

Dividends per share [+]	$0.04	$0.41	$1.42	$1.42	$1.54	$1.46	$1.17	$0.85
Growth	-90.2%	-70.8%	-0.5%	-7.7%	5.3%	25.0%	38.1%	41.2%

Shares outstanding (basic) [+]	130.8	130.6	130.5	74.3	69.6	71.9	71.7	65.6
Growth	0.1%	0.1%	75.6%	6.7%	-3.2%	0.3%	9.2%	6.7%
Shares outstanding (diluted) [+]	130.8	130.6	130.7	74.3	70.0	72.4	72.4	66.3
Growth	0.1%	-0.1%	76.0%	6.1%	-3.3%	0.0%	9.2%	7.2%

EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.