Pebblebrook Hotel Trust (NYSE: PEB) has announced the election of Nina P. Jones and Bill Bayless to its Board of Trustees and the adoption of a new principles-based board refreshment framework. Nina P. Jones, who retired from T. Rowe Price, brings more than 15 years of real estate investing experience to the board, having served as Vice President, Portfolio Manager of the U.S. Real Estate Equity Strategy. Jones also holds a BS in accounting and finance from the University of Maryland and an MBA from Columbia University's Graduate School of Business. She currently serves as a director of Simon Property Group (NYSE: SPG) and a trustee of Equity Residential (NYSE: EQR). Bill Bayless, the Chief Executive Officer of Maslow Campus Communities, has been involved in nearly $30 billion in real estate transactions over his more than 35-year career and was recognized as the Ernst & Young National Entrepreneur of the Year (Real Estate, Construction & Hospitality * 2017).
The new principles-based board refreshment framework includes an annual board composition review, targeting an average independent trustee tenure of 12 years or less by the 2027 Shareholder Meeting, annual refresh of the Board skills/experience matrix, a rolling, multi-year succession plan, annual board, committee, and individual evaluations, and refreshment execution. To align with the Company’s 12-year average independent trustee tenure goal, Ron E. Jackson has announced that he will not stand for re-election at the 2026 Annual Meeting of Shareholders, and one other current Pebblebrook independent trustee is expected not to stand for re-election at the 2027 Annual Meeting of Shareholders.
Pebblebrook Hotel Trust is a publicly traded real estate investment trust and the largest owner of urban and resort lifestyle hotels in the United States, owning 44 hotels totaling approximately 11,000 guest rooms across 13 urban and resort markets.
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 its Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Following these announcements, the company's shares moved 1.32%, and are now trading at a price of $12.29. For the full picture, make sure to review Pebblebrook Hotel Trust's 8-K report.
