Pebblebrook Adds 2 More Hotels, Will Sell More Stock

BETHESDA, MARYLAND Pebblebrook Hotel Trust plans to acquire the 183-key Hotel Monaco in Washington, D.C., for US$74 million, in addition to The Grand Hotel in Minneapolis, which has a purchase price of US$36 million.

Pebblebrook has also confirmed an upcoming US$350 million public stock offering, according to documents filed Tuesday with the U.S. Securities and Exchange Commission, Washington Business Journal reports. Last month, Pebblebrook finalized the US$105 million purchase of InterContinental Buckhead Atlanta.

Pebblebrook executives have declined to comment on the filings, citing SEC restrictions.

Pebblebrook issued its IPO in December, also priced at US$350 million.