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Pebblebrook Hotel Trust Declares Dividends for Second Quarter 2018

Pebblebrook Hotel Trust (NYSE: PEB) (the “Company”) today announced that
its Board of Trustees has authorized, and the Company has declared, a
quarterly cash dividend of $0.38 per common share of beneficial
interest, to be paid on July 16, 2018 to shareholders of record as of
June 29, 2018 (the “Record Date”). The common dividend represents an
annualized yield of approximately 3.8 percent based on the closing price
of the Company’s common shares on June 14, 2018.

The Board of Trustees also authorized, and the Company has declared, a
regular quarterly cash dividend of $0.40625 per share of the Company’s
6.50% Series C Cumulative Redeemable Preferred Shares of Beneficial
Interest and a regular quarterly cash dividend of $0.39844 per share of
the Company’s 6.375% Series D Cumulative Redeemable Preferred Shares of
Beneficial Interest, each of which will be paid on July 16, 2018 to
shareholders of record as of the Record Date.

About Pebblebrook Hotel Trust

Pebblebrook Hotel Trust is a publicly traded real estate investment
trust (“REIT”) organized to opportunistically acquire and invest
primarily in upper upscale, full-service hotels located in urban markets
in major gateway cities. The Company owns 28 hotels, with a total of
6,973 guest rooms. The Company owns hotels located in 9 states and the
District of Columbia, including: Los Angeles, California (Beverly Hills,
Santa Monica and West Hollywood); San Diego, California; San Francisco,
California; Washington, DC; Coral Gables, Florida; Naples, Florida;
Buckhead, Georgia; Boston, Massachusetts; Minneapolis, Minnesota;
Portland, Oregon; Philadelphia, Pennsylvania; Nashville, Tennessee;
Columbia River Gorge, Washington; and Seattle, Washington. For more
information, please visit us at www.pebblebrookhotels.com
and follow us on Twitter at @PebblebrookPEB.

This press release contains statements that are “forward-looking
statements” within the meaning of Section 27A of the Securities Act of
1933, as amended, and Section 21E of the Securities Act of 1934, as
amended, pursuant to the safe harbor provisions of the Private
Securities Reform Act of 1995. Forward-looking statements are
generally identifiable by use of forward-looking terminology such as
“may,” “will” or other similar words or expressions. These
forward-looking statements relate to the payment of the dividends. Forward-looking
statements are based on certain assumptions and can include future
expectations, future plans and strategies, financial and operating
projections or other forward-looking information. These
forward-looking statements are subject to various risks and
uncertainties, not all of which are known to the Company and many of
which are beyond the Company’s control, which could cause actual results
to differ materially from such statements. These risks and
uncertainties include, but are not limited to, the state of the U.S.
economy, supply and demand in the hotel industry and other factors as
are described in greater detail in the Company’s filings with the
Securities and Exchange Commission (“SEC”), including, without
limitation, the Company’s Annual Report on Form 10-K for the year ended
December 31, 2017. Unless legally required, the Company disclaims
any obligation to update any forward-looking statements, whether as a
result of new information, future events or otherwise.

For information about the Company’s business and financial results,
please refer to the “Management’s Discussion and Analysis of Financial
Condition and Results of Operations” and “Risk Factors” sections of the
Company’s SEC filings, including, but not limited to, its Annual Report
on Form 10-K and Quarterly Reports on Form 10-Q, copies of which may be
obtained at the Investor Relations section of the Company’s website at www.pebblebrookhotels.com
and at www.sec.gov.

All information in this release is as of June 15, 2018. The
Company undertakes no duty to update the statements in this release to
conform the statements to actual results or changes in the Company’s
expectations.

For additional information or to receive press releases via email,
please visit our website at www.pebblebrookhotels.com

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