Hotel Resource - LaSalle Hotel Properties Hotel Industry News

Jeff Foland, Executive Vice President of United Airlines and President of Mileage Plus Holdings, LLC to Serve as Independent Trustee

LaSalle Hotel Properties (NYSE:LHO) today announced that it acquired The Park Central Hotel in New York City for $396.2 million. The 934-room, urban, full service hotel is located on Seventh Avenue, between West 55th and West 56th Streets, in midtown Manhattan.

Achieves 6.4 percent RevPAR growth (6.9 percent excluding Hurricane Irene impact) and Hotel EBITDA margin improvement of 208 basis points to 33.6 percent

LaSalle Hotel Properties (NYSE: LHO) today announced that it acquired the Villa Florence hotel in San Francisco for $67.2 million. The 182-room, urban, full service hotel is located at 225 Powell Street in the heart of the Union Square district of San Francisco. The transaction was funded with cash on hand.

Achieves 6.3 percent RevPAR growth and Hotel EBITDA margin improvement of 180 basis points to 35.1 percent

LaSalle Hotel Properties (NYSE:LHO) announced that it signed a Purchase and Sale Agreement to acquire The Park Central Hotel for $405.5 million.

'Despite having four properties under major renovation and unfortunate weather in the Northeast during the quarter, both RevPAR and hotel EBITDA margins were strong for the portfolio, which resulted in a 53% increase in adjusted EBITDA for the Company'

LaSalle Hotel Properties (NYSE: LHO) today announced that it acquired the leasehold interest in the Viceroy Santa Monica for $80.1 million. The 162-room, urban, full service hotel is located at 1819 Ocean Avenue in Santa Monica, California.

Company reports 29.1 percent hotel EBITDA margin and achieves best-ever occupancy of 75.0% in 2010

LaSalle Hotel Properties (NYSE: LHO) today announced the sale of the 564-room Sheraton Bloomington Hotel for $20.0 million. The proceeds of the sale will be used to reduce the outstanding balance on the Company's senior unsecured credit facility.