Pebblebrook CFO explains selling San Francisco hotel at a discount

Pebblebrook Hotel Trust CFO Raymond Martz explains the REIT’s decision to sell the Sir Francis Drake hotel in San Francisco at a 20% discount from pre-pandemic levels. Conditions from 2020 mean that “this is the time when you can sell some of your gainers,” Martz says. “We also think there are some opportunities out there with assets down more than 20%.”