Pebblebrook Hotel Trust . (PEB)

[Soapy Bubbles]

Not as bad as I expected.

Pebblebrook Hotel Trust (NYSE: PEB) (the “Company”) today reported a net loss to common shareholders of ($6.6) million, or ($0.23) per diluted share, for the year ended December 31, 2010.

For the year ended December 31, 2010, the Company generated funds from operations (“FFO”) of ($0.9) million, or ($0.03) per diluted share, and Adjusted FFO of $7.3 million, or $0.25 per diluted share. The Company’s earnings before interest, taxes, depreciation and amortization (“EBITDA”) were $0.7 million and Adjusted EBITDA was $8.9 million.

Net loss, FFO and EBITDA for the year ended December 31, 2010 were reduced by $6.6 million of costs incurred in connection with potential and completed acquisitions and $2.0 million of non-cash corporate general and administrative expenses.