Pebblebrook Hotel Trust (NYSE: PEB) reported Q4 FFO of $0.46, $0.03 better than the analyst estimate of $0.43. Revenue for the quarter came in at $155.9 million versus the consensus estimate of $154.4 million.

“We’re thrilled with our portfolio’s strong overall performance in 2014,” said Jon E. Bortz, Chairman, President and Chief Executive Officer of Pebblebrook Hotel Trust. “The hotel industry experienced another record-setting year, as industry demand accelerated throughout 2014, significantly outpacing supply growth. Our hotels especially benefitted from the continuous robust growth in business transient, leisure, group and international inbound travel. Our strategy of owning high quality hotels in high-barrier-to-entry, major gateway cities has enabled us to take advantage of these positive fundamentals and to outperform the overall industry’s RevPAR growth for the fourth straight year – this year by almost 100 bps. Furthermore, we were very active in the acquisition market, acquiring six high-quality hotels, while also completing several notable repositioning and capital reinvestment projects that should benefit our portfolio in 2015 and beyond. Overall, our performance during 2014 well exceeded our expectations as Adjusted EBITDA grew 31.4 percent, Adjusted FFO per share climbed 33.3 percent and we increased our common dividend in 2014 by 44 percent."

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