Pebblebrook Hotel Trust Acquires the Sir Francis Drake Hotel in San Francisco, California

BETHESDA, Md., Jun 22, 2010 (BUSINESS WIRE) -- Pebblebrook Hotel Trust today announced that it has acquired the Sir Francis Drake Hotel for $90.0 million from a partnership led by The Chartres Lodging Group, LLC. The 416-room, upper upscale, full-service hotel is located in downtown San Francisco, California in the heart of Union Square. The hotel will continue to be managed by Kimpton Hotels & Restaurants ("Kimpton"). The transaction was funded entirely with proceeds from the Company's initial public offering.

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