LASALLE HOTEL PROPERTIES (NYSE:LHO) Files An 8-K Regulation FD Disclosure
ITEM 7.01. REGULATION FD DISCLOSURE.
press release announcing the redemption of its 7.5% Series H
Cumulative Redeemable Preferred Shares. A copy of such press
release is furnished as Exhibit 99.1 to this report.
the Company has sold Lansdowne Resort in Lansdowne, Virginia for
$133.0 million and Alexis Hotel in Seattle, Washington for $71.6
million and is under contract to sell Hotel Triton in San
Francisco, California for $14.25 million. A copy of such press
release is furnished as Exhibit 99.2 to this report.
2,750,000 of its outstanding 7.5% Series H Cumulative Redeemable
Preferred Shares at a redemption price of $25.00 per share, plus
accrued and unpaid dividends through the redemption date, which
is May 4, 2017.
Resort in Lansdowne, Virginia for $133.0 million and Alexis Hotel
in Seattle, Washington for $71.6 million. In addition, the
Company announced that it is under contract to sell Hotel Triton
in San Francisco, California for $14.25 million. The Company
expects the sale to close in April 2017. Because the sale of
Hotel Triton is subject to customary closing conditions, the
Company can give no assurance that the transaction will be
consummated by such date or at all. Proceeds from the asset sales
will be used to redeem the outstanding 7.5% Series H Cumulative
Redeemable Preferred Shares and for general corporate purposes.
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Exhibit Number
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Description
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99.1
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Press release, dated April 3, 2017
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99.2
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Press release, dated April 3, 2017
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Exhibit 99.1 and Exhibit 99.2 to this report shall not be deemed
filed for the purposes of Section 18 of the Securities Exchange
Act of 1934, as amended, or otherwise subject to the liabilities
of that section. Furthermore, the information contained in the
press releases attached as Exhibit 99.1 and Exhibit 99.2 to this
report shall not be deemed to be incorporated by reference in the
filings of the registrant under the Securities Act of 1933, as
amended.
About LASALLE HOTEL PROPERTIES (NYSE:LHO)
Lasalle Hotel Properties is a self-administered and self-managed real estate investment trust (REIT). The Company primarily buys, owns, redevelops and leases upscale and luxury hotels located in convention, resort and urban business markets. The Company owns interest in approximately 50 hotels with over 12,000 guest rooms located in approximately 10 states and the District of Columbia. LaSalle Hotel Lessee, Inc. (LHL) is the Company’s subsidiary. The Company’s hotels are leased to LHL that provides for rental payments. The Company’s assets are held by, and all of its operations are conducted through, LaSalle Hotel Operating Partnership, L.P. (the Operating Partnership). The Company is the general partner of the Operating Partnership. The hotels, in which the Company has interests include Hotel Amarano Burbank, Hilton San Diego Gaslamp Quarter, Hotel Solamar, San Diego Paradise Point Resort and Spa, The Hilton San Diego Resort and Spa, and Harbor Court Hotel. LASALLE HOTEL PROPERTIES (NYSE:LHO) Recent Trading Information
LASALLE HOTEL PROPERTIES (NYSE:LHO) closed its last trading session down -0.14 at 28.81 with 1,472,666 shares trading hands.