LaSalle Hotel Properties Provides Hurricane Irma Impact Update
September 11 2017 - 6:56PM
Business Wire
LaSalle Hotel Properties (NYSE: LHO) today announced both of its
resorts in Key West, Florida were closed on Wednesday, September 6
to comply with all mandatory evacuations of the island. The Company
maintains property, flood, fire, and business interruption
insurance at its two resorts in Key West.
“Our thoughts are with everyone impacted by Hurricane Irma and
its devastating force,” said Michael D. Barnello, President and
Chief Executive Officer of LaSalle Hotel Properties. “Given that
our Key West resorts are closed and all guests and employees have
evacuated, we are unable to provide any further updates at this
time regarding the properties’ physical condition and corresponding
financial impact.”
About LaSalle Hotel Properties
LaSalle Hotel Properties is a leading multi-operator real estate
investment trust. The Company owns 41 properties, which are
upscale, full-service hotels, totaling approximately 10,400 guest
rooms in 11 markets in seven states and the District of Columbia.
The Company focuses on owning, redeveloping and repositioning
upscale, full-service hotels located in urban, resort and
convention markets. LaSalle Hotel Properties seeks to grow through
strategic relationships with premier lodging groups, including
Hilton Hotels Corporation, Marriott International, Outrigger
Lodging Services, Noble House Hotels & Resorts, Hyatt Hotels
Corporation, Benchmark Hospitality, Two Roads Hospitality, Davidson
Hotel Company, Kimpton Hotel & Restaurant Group, LLC, Accor,
HEI Hotels & Resorts, JRK Hotel Group, Inc., Viceroy Hotel
Group, Highgate Hotels, Access Hotels & Resorts, and Provenance
Hotels.
This press release, together with other statements and
information publicly disseminated by the Company, contains certain
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. The Company intends
such forward-looking statements to be covered by the safe harbor
provisions for forward-looking statements contained in the Private
Securities Litigation Reform Act of 1995 and includes this
statement for purposes of complying with these safe harbor
provisions. Forward-looking statements, which are based on certain
assumptions and describe the Company's future plans, strategies and
expectations, are generally identifiable by use of the words
“will,” "believe," "expect," "intend," "anticipate," "estimate,"
"project," “may,” “plan,” “seek,” “should,” or similar expressions.
Forward-looking statements in this press release include, among
others, statements about the Company’s two resorts located in Key
West, Florida. You should not rely on forward-looking statements
since they involve known and unknown risks, uncertainties and other
factors that are, in some cases, beyond the Company's control and
which could materially affect actual results, performances or
achievements. Factors that may cause actual results to differ
materially from current expectations include, but are not limited
to, (i) risks associated with the hotel industry, including
competition for guests and meetings from other hotels and
alternative lodging companies, increases in wages, energy costs and
other operating costs, potential unionization or union disruption,
actual or threatened terrorist attacks, any type of flu or
disease-related pandemic and downturns in general and local
economic conditions, (ii) the availability and terms of financing
and capital and the general volatility of securities markets, (iii)
the Company’s dependence on third-party managers of its hotels,
including its inability to implement strategic business decisions
directly, (iv) risks associated with the real estate industry,
including environmental contamination and costs of complying with
the Americans with Disabilities Act of 1990, as amended, and
similar laws, (v) interest rate increases, (vi) the possible
failure of the Company to maintain its qualification as a REIT and
the risk of changes in laws affecting REITs, (vii) the possibility
of uninsured losses, (viii) risks associated with redevelopment and
repositioning projects, including delays and cost overruns, (ix)
the risk of a material failure, inadequacy, interruption or
security failure of the Company’s or the hotel managers’
information technology networks and systems, and (x) the risk
factors discussed in the Company’s Annual Report on Form 10-K as
updated in its Quarterly Reports. Accordingly, there is no
assurance that the Company's expectations will be realized. Except
as otherwise required by the federal securities laws, the Company
disclaims any obligation or undertaking to publicly release any
updates or revisions to any forward-looking statement contained
herein (or elsewhere) to reflect any change in the Company’s
expectations with regard thereto or any change in events,
conditions or circumstances on which any such statement is
based.
For additional information or to receive press releases via
e-mail, please visit our website at www.lasallehotels.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20170911006327/en/
LaSalle Hotel PropertiesKenneth G. Fuller or Max D.
Leinweber301-941-1500
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