BETHESDA, MD – The chairman, president and chief executive officer of Pebblebrook Hotel Trust saw a 13.9 percent increase in total compensation to $4.1 million in 2016, according to the company proxy filed with the Securities and Exchange Commission.
Jon Bortz’s total compensation in 2015 was $3.6 million.
Bortz’s base salary has remained at $750,000 since 2014, while his non-equity incentive plan compensation increased 46.1 percent in 2016 to $1,687,500 from $1,155,000 the year before.
Bortz has served as chairman, president and CEO since the company’s founding in 2009. Prior to Pebblebrook, Bortz served as the president and CEO of LaSalle Hotel Properties, a publicly traded hotel REIT, since its establishment in 1998.
He is a current member of the board of governors of the National Association of Real Estate Investment Trusts and serves as the treasurer, as well as a member of the board of directors, for the American Hotel & Lodging Association. Additionally, Bortz serves on the board of trustees of the Federal Realty Investment Trust.
Executive Vice President and Chief Financial Officer Raymond Martz saw a 5.7 percent increase in total compensation in 2016 to $1,806,088 from $1,708,570 in 2015. His base salary increased $50,000 to $450,000 in 2016. Martz also serves as the Treasurer and Secretary of Pebblebrook.
Pebblebrook Hotel Trust is a real estate investment trust that acquires and invests in upper upscale, full service hotel and resort properties in major U.S. cities. The company owns 29 hotels located in 10 states and the District of Columbia.
The company’s net income for the first quarter of 2017 was $14.1 million, down $2.5 million from the same period in 2016.
Pebblebrook’s annual meeting of shareholders will be held on June 30 at 9 a.m. in Washington, D.C.
The company’s stock closed Friday at $29.76, down $1.44, or 4.62 percent.
This story is from the Maryland Business News Wire, a service of UNC-Chapel Hill’s School of Media and Journalism