San Diego Resorts Up 14%, Downtown Down 4.5% for Pebblebrook

By Nathan Snyder, Editor

Pebblebrook Hotel Trust’s San Diego portfolio split in the third quarter of 2026: resorts rose and downtown hotels slid, according to the company’s Oct. 29 results release and its Oct. 30 earnings call.

Resorts Versus Downtown

On the call, Co-President and Chief Financial Officer Raymond Martz said Pebblebrook’s four San Diego resorts posted a 14% increase in RevPAR and $4.5 million of incremental hotel EBITDA in the quarter, according to the Motley Fool transcript of the Oct. 30 call. Martz named L’Auberge Del Mar, Paradise Point Resort & Spa and Estancia La Jolla among properties that delivered significant profitability improvements.

Downtown San Diego moved the other way. Pebblebrook’s market table in the Oct. 29 release shows San Diego Downtown same-property RevPAR down 4.5% in the third quarter and down 2.4% for the nine months ended Sept. 30. On the call, Martz said downtown hotel EBITDA fell $1.6 million, citing a soft convention calendar, especially in September, and describing the weakness as a calendar headwind rather than a broader market concern, according to the Motley Fool transcript.