Why did PEB's Q3 2024 EPS exceed forecasts?

Pebblebrook Hotel Trust (NYSE: PEB) reported an EPS of $0.27 for Q3 2024, which exceeded market expectations. This positive surprise can be attributed to **Efficient Cost Management** and **Strong Operational Performance**.

|code|Ticker|Name|Date|Total Revenue|EPS Surprise|Diluted EPS|market_code|
|---|---|---|---|---|---|---|---|
|PEB|PEB.N|Pebblebrook Hotel|2023 Q4|3.34088E8|||169|
|PEB|PEB.N|Pebblebrook Hotel|2024 Q1|3.14069E8|0.05|-0.32|169|
|PEB|PEB.N|Pebblebrook Hotel|2024 Q2|3.9711E8|0.11|0.16|169|
|PEB|PEB.N|Pebblebrook Hotel|2024 Q3|4.0453E8|0.27|0.24|169|

1. **Efficient Cost Management**: The company has implemented efficiency and cost-saving initiatives, which have led to a reduction in year-over-year operating expenses. This strategic focus on cost management has enhanced hotel profitability despite challenging market conditions.
2. **Strong Operational Performance**: Pebblebrook Hotel Trust has shown healthy occupancy gains and has been successful in maintaining overall performance. The company's same-property hotel EBITDA stood at $110.8 million, reflecting robust operational efficiency.