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Westin Michigan Avenue Chicago — Pebblebrook disposition
$72,000,000 · $95,745/key
Pebblebrook closed the 752-room Westin Michigan Avenue Chicago on December 3, 2025 for $72.0 million to a third party. Pebblebrook’s 15.6x EBITDA / 3.5% NOI lines are before a brand-mandated PIP and other significant capex — that is Pebblebrook’s narrative, not a second price. Buyer unnamed. Magnificent Mile box, not a River North boutique.
Pebblebrook Hotel Trust Form 8-K, December 3, 2025 (press dated December 4)