RLJ Lodging Trust Provides Hurricane Update
September 13 2017 - 9:15AM
Business Wire
RLJ Lodging Trust (the “Company”) (NYSE: RLJ) today provided an
update with respect to the Company’s properties following
Hurricanes Harvey and Irma.
“Our thoughts and prayers go out to the people impacted by these
two devastating hurricanes,” commented Ross H. Bierkan, President
and Chief Executive Officer of RLJ Lodging Trust. “I could not be
prouder of the professionalism and humanity of our team in taking
care of our guests. In the true spirit of hospitality and service,
our associates continue to serve even in the face of crisis.”
In Texas, all of the Company’s 11 hotels in the Houston market
remain operational. To date, there has been no material property
damage reported. RLJ’s hotels in the Austin and San Antonio markets
have also remained operational and were largely unaffected.
In Florida, eight of the Company’s 20 hotels had been
temporarily closed to comply with mandatory evacuation orders. A
number of the closed hotels are in the process of reopening as
evacuation orders are lifted at their respective locations. Based
on preliminary information, no material property damage has been
reported.
RLJ maintains comprehensive insurance coverage on all of its
hotels including property, flood and business interruption. The
Company is working with its insurance providers to assess the
overall impact from the two storms and expects the assessment to
take several weeks to complete.
About Us
RLJ Lodging Trust is a self-advised, publicly traded real estate
investment trust focused on acquiring premium-branded,
focused-service and compact full-service hotels. The Company’s
portfolio consists of 158 hotels with approximately 31,180 rooms
located in 26 states and the District of Columbia and an ownership
interest in one unconsolidated hotel with 171 rooms.
Forward Looking
Statements
The following information contains certain statements, other
than purely historical information, including estimates,
projections, statements relating to the Company’s business plans,
objectives and expected operating results, and the assumptions upon
which those statements are based, that are “forward-looking
statements” within the meaning of the Private Securities Litigation
Reform Act of 1995, Section 27A of the Securities Act of 1933, as
amended and Section 21E of the Securities Exchange Act of 1934, as
amended. These forward-looking statements generally are identified
by the use of the words “believe,” “project,” “expect,”
“anticipate,” “estimate,” “plan,” “may,” “will,” “will continue,”
“intend,” “should,” “may” or similar expressions. Although the
Company believes that the expectations reflected in such
forward-looking statements are based upon reasonable assumptions,
beliefs and expectations, such forward-looking statements are not
predictions of future events or guarantees of future performance
and the Company’s actual results could differ materially from those
set forth in the forward-looking statements. Some factors that
might cause such a difference include the following: the current
global economic uncertainty, increased direct competition, changes
in government regulations or accounting rules, changes in local,
national and global real estate conditions, declines in the lodging
industry, seasonality of the lodging industry, risks related to
natural disasters, such as earthquakes and hurricanes, hostilities,
including future terrorist attacks or fear of hostilities that
affect travel, the Company’s ability to obtain lines of credit or
permanent financing on satisfactory terms, changes in interest
rates, access to capital through offerings of the Company’s common
and preferred shares of beneficial interest, or debt, the Company’s
ability to identify suitable acquisitions, the Company’s ability to
close on identified acquisitions and integrate those businesses and
inaccuracies of the Company’s accounting estimates. Given these
uncertainties, undue reliance should not be placed on such
statements. Except as required by law, the Company undertakes no
obligation to update or revise publicly any forward-looking
statements, whether as a result of new information, future events
or otherwise. The Company cautions investors not to place undue
reliance on these forward-looking statements and urge investors to
carefully review the disclosures the Company makes concerning risks
and uncertainties in the sections entitled “Risk Factors,”
“Forward-Looking Statements,” and “Management’s Discussion and
Analysis of Financial Condition and Results of Operations” in the
Company’s Annual Report, as well as risks, uncertainties and other
factors discussed in other documents filed by the Company with the
SEC.
For additional information or to receive press
releases via email, please visit our website:
http://rljlodgingtrust.com
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RLJ Lodging TrustLeslie D. Hale,
301-280-7774Chief Operating Officer and Chief Financial
Officer
RLJ Lodging (NYSE:RLJ)
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