LaSalle Hotel Properties Increases Dividend 40 Percent to 28 Cents
July 17 2013 - 4:04PM
Business Wire
LaSalle Hotel Properties (NYSE: LHO) today announced that it
increased its dividend to $0.28 per common share of beneficial
interest for the quarter ending September 30, 2013. The third
quarter dividend will be paid on October 15, 2013 to common
shareholders of record on September 30, 2013.
“We are very excited to announce that we have increased the
common dividend by 40 percent to an annual run rate of $1.12,” said
Michael D. Barnello, President and Chief Executive Officer of
LaSalle Hotel Properties. “Our strong results year-to-date have
been encouraging while our outlook for the balance of the year is
solid.”
LaSalle Hotel Properties is a leading multi-operator real estate
investment trust. The Company owns 40 hotels and a mezzanine loan
secured by two hotels in Santa Monica, CA. The properties are
upscale full-service hotels, totaling over 10,600 guest rooms in 13
markets in nine states and the District of Columbia. The Company
focuses on owning, redeveloping and repositioning upscale and
luxury, full-service hotels located in convention, resort and major
urban business markets. LaSalle Hotel Properties seeks to grow
through strategic relationships with premier lodging companies,
including Westin Hotels and Resorts, Hilton Hotels Corporation,
Outrigger Lodging Services, Noble House Hotels & Resorts, Hyatt
Hotels Corporation, Benchmark Hospitality, White Lodging Services
Corporation, Thompson Hotels, Davidson Hotel Company, Denihan
Hospitality Group, the Kimpton Hotel & Restaurant Group, LLC,
Accor, Destination Hotels & Resorts, HEI Hotels & Resorts,
JRK Hotel Group, Inc., Viceroy Hotel Group, Highgate Hotels and
Access Hotels & Resorts.
For additional information or to receive press
releases via e-mail, please visit our website at
www.lasallehotels.com.
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