Pebblebrook Hotel Trust (NYSE: PEB) reported Q2 AFFO of $0.81, $0.06 better than the analyst estimate of $0.75. Revenue for the quarter came in at $212.27 million versus the consensus estimate of $210.74 million.

“We are pleased with our operating results during the second quarter,” said Jon E. Bortz, Chairman, President and Chief Executive Officer of Pebblebrook Hotel Trust. “We continued to experience solid demand in our west coast markets, particularly Portland and Los Angeles. In addition, our recently renovated and repositioned hotels, including Hotel Vintage Portland, Hotel Zephyr Fisherman’s Wharf and W Los Angeles – West Beverly Hills, made further strides increasing market share and improving operating performance and profitability, which we expect will carry on throughout 2016. Despite these positive factors, business travel demand across the industry, both group and transient, continued to soften as companies remain cautious with discretionary expenditures such as travel. And while we’ve seen some positive signs in more recent economic data, our outlook for the remainder of the year remains cautious.”

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