The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: William Andrew Crow - Raymond James & Associates, Inc., Research Division - Analyst
: Jon, hopefully, you can hear me better than I can hear you.
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OCTOBER 27, 2023 / 1:00PM, PEB.N - Q3 2023 Pebblebrook Hotel Trust Earnings Call
Question: William Andrew Crow - Raymond James & Associates, Inc., Research Division - Analyst
: Could you talk about, group for next year and the outlook and which markets might be the better markets, which ones might be the worst markets?
Question: William Andrew Crow - Raymond James & Associates, Inc., Research Division - Analyst
: I just wanted to follow up on the question that Dori asked earlier about the expense normalization, I know she cut out property taxes, insurance
and energy. But that's kind of like cutting up food and housing in CPI. So where is expense growth? Where do you think it's going to be next year?
Are we looking at another year of, call it, 5% expense growth. And I guess the question I keep getting from investors is, at what point does 3%
RevPAR growth translate into growing margins and EBITDA?
Question: William Andrew Crow - Raymond James & Associates, Inc., Research Division - Analyst
: Okay. All right. But it sounds like when you put all together, it's likely that margins are probably going to have a tough time being flat next year
just with all these [fed wins]. I mean maybe I misunderstood, but that would be my takeaway.
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