Pebblebrook Hotel Trust wants the term staycation to take a vacation. The self-managed real estate investment trust (REIT) acquires and manages upscale hotels in the US, targeting mostly full-service and select-service luxury properties that don't need major renovation in major US gateway cities. The REIT owns more than 30 hotels (with 7,400 rooms) across 11 states, and has a 49% interest in six more hotels spanning nearly 1,800 rooms through its Manhattan Collection joint venture. Nearly 70% of its revenue comes from room fees, while the remainder comes from food and beverage services. Pebblebrook Hotel Trust is the brainchild of CEO Jon Bortz, who also founded LaSalle Hotel Properties.