Pebblebrook Hotel Trust Declares Dividends for Second Quarter 2019

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 15, 2019 to shareholders of record as of
June 28, 2019 (the “Record Date”). The common dividend represents an
annualized yield of approximately 5.3 percent based on the closing price
of the Company’s common shares on June 13, 2019.

The Board of Trustees also authorized, and the Company has declared,
regular quarterly cash dividends on the Company’s preferred shares of
beneficial interest as follows, each of which will be paid on July 15,
2019 to shareholders of record as of the Record Date:

• $0.40625 per 6.50% Series C Cumulative Redeemable Preferred Share;
• $0.39844 per 6.375% Series D Cumulative Redeemable Preferred Share;
• $0.39844 per 6.375% Series E Cumulative Redeemable Preferred Share; and
• $0.39375 per 6.30% Series F Cumulative Redeemable Preferred Share.

About Pebblebrook Hotel Trust

Pebblebrook Hotel Trust (NYSE: PEB) is a publicly traded real estate
investment trust (“REIT”) and the largest owner of urban and resort
lifestyle hotels in the United States. The Company owns 60 hotels,
totaling approximately 14,500 guest rooms across 16 urban and resort
markets with a focus on the west coast gateway cities. For more
information, visit www.pebblebrookhotels.com
and follow us at @PebblebrookPEB.

For further 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.

This press release contains certain “forward-looking statements” made
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,” “should,” “potential,” “intend,” “expect,” “seek,” “anticipate,”
“estimate,” “approximately,” “believe,” “could,” “project,” “predict,”
“forecast,” “continue,” “assume,” “plan,” references to “outlook” or
other similar words or expressions. These forward-looking statements
relate to the payment of the dividends. These forward-looking statements
are subject to various risks and uncertainties, 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 and the
supply of hotel properties, and other factors as are described in
greater detail in the Company’s filings with the Securities and Exchange
Commission, including, without limitation, the Company’s Annual Report
on Form 10-K for the year ended December 31, 2018. 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 further 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.

All information in this press release is as of June 14, 2019. The
Company undertakes no duty to update the statements in this press
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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