Q3 2026 Revenue up 1% year over year to $403M · 14¢ of every $1 of revenue lost · operating margin -6.9%
Pebblebrook Hotel Trust made $403M in Q3 2026 (+1% Y/Y): Room $258M, Food and beverage $96.3M, Other operating $48.2M. Operating margin -6.9%, net loss $54.6M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Oct 29, 2026.
Revenue$403M
Year over year+1%
Operating margin-6.9%
Net earnings−$54.6M
Operating cash flow$84.9M
Drawing the Sankey…
Open the interactive Sankey →click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $402.7M in Q3 2026, up 1% year over year and down 1% from the previous quarter. Room was the largest line at 64% of revenue. Room added $3.6M year over year (up 1%), 91% of the total change.
Operating costs exceeded revenue by $27.6M, an operating margin of -6.9%. Total costs grew 5% against revenue growth of 1%. The fastest-growing cost line was Other operating costs (+17%). The quarter ended with a net loss of $54.6M, after a profit of $24.9M the previous quarter.
Operating cash flow was $84.9M (up 9% year over year). Non-cash charges added back $2.6M of share-based compensation. Working capital and other items added $136.9M. Capital expenditures of $15.8M left free cash flow of $69.1M.
Quarterly history
Quarter
Form
Filed
Revenue
Y/Y
Op. margin
Net earnings
Op. cash flow
Q3 2026
10-Q
Oct 29, 2026
$403M
+1%
-6.9%
−$54.6M
$84.9M
Q2 2026
10-Q
Jul 29, 2026
$407M
-0.1%
14.1%
$23.6M
$86.3M
Q1 2026
10-Q
Apr 28, 2026
$346M
+8%
2.3%
−$18.4M
$84.1M
Q4 2025
10-K
Feb 25, 2026
$349M
+3%
2.5%
−$17.0M
$31.3M
Q3 2025
10-Q
Nov 5, 2025
$399M
-1%
-2.6%
−$32.4M
$77.6M
Q2 2025
10-Q
Jul 29, 2025
$408M
+3%
12.9%
$18.1M
$90.5M
Q1 2025
10-Q
May 1, 2025
$320M
+2%
-2.3%
−$32.2M
$50.3M
Charts
Latest (Q3 2026): Y/Y +1%, Q/Q -1%.From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.Latest (Q3 2026): Net income −$54.6M, Operating cash flow $84.9M.-10.4% since FY2020: buybacks shrank the count.Cash $184M, short-term investments —, long-term debt $2.1B at 2025-12-31.Real Estate Investment Trusts; dot size is quarterly revenue; dashed lines are the industry's medians.
Interactive views
The same charts as the app — open one to draw it.
💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
Pebblebrook Hotel Trust is an internally managed hotel investment company, formed as a Maryland real estate investment trust in October 2009 to opportunistically acquire and invest in hotel properties located primarily in major United States cities and resort properties located near our primary target urban markets and select destination resort markets, with an emphasis on major gateway coastal markets. As of December 31, 2025, the Company owned interests in 44 hotels with a total of 11,052 guest rooms. Substantially all of the Company's assets are held by, and all of the Company's operations are conducted through, Pebblebrook Hotel, L.P. (our "Operating Partnership"). The Company is the sole general partner of our Operating Partnership. At December 31, 2025, the Company owned 99.0% of the common limited partnership units issued by our Operating Partnership ("common units").
In its own words, from its 10-K, filed Feb 25, 2026.
Pebblebrook Hotel Trust against its Real Estate Investment Trusts peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +1% against the peers' median +11%. Operating margin: -6.9% against the peers' median 15.9%.