LaSalle Hotel Properties Announces the Sale of 1,005,000 Additional Common Shares Pursuant to the Underwriters’ Option
October 23 2013 - 9:00AM
Business Wire
LaSalle Hotel Properties (NYSE:LHO) today announced that the
underwriters of its recent follow-on public offering of common
shares have exercised in full their option to purchase an
additional 1,005,000 common shares, bringing the total number of
shares to be issued in this offering to 7,705,000 common
shares.
Citigroup and Deutsche Bank Securities served as the
underwriters for the offering. A copy of the prospectus supplement
and prospectus relating to these securities may be obtained by
contacting (a) Citigroup, c/o Broadridge Financial Solutions, 1155
Long Island Avenue, Edgewood, New York 11717, Tel:
800-831-9146, (b) Deutsche Bank Securities Inc., 60 Wall
Street, New York, New York 10005, Attention: Prospectus Group,
Telephone (800) 503-4611 or email at prospectus.cpdg@db.com, or (c)
the Internet site of the Securities and Exchange Commission at
http://www.sec.gov.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy nor shall there be any sale of
these securities in any state in which such offer, solicitation or
sale would be unlawful prior to registration or qualification under
the securities laws of any state. The offering may be made only by
means of the prospectus and related prospectus supplement.
LaSalle Hotel Properties is a leading multi-operator real estate
investment trust. The Company owns 45 hotels and a mezzanine loan
secured by two hotels in Santa Monica, CA. The properties are
upscale, full-service hotels, totaling approximately 11,400 guest
rooms in 14 markets in 10 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 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, Commune Hotels and Resorts, 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.
This press release, together with other statements and
information publicly disseminated by the Company, contain 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" or similar expressions. 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) the Company’s dependence on
third-party managers of its hotels, including its inability to
implement strategic business decisions directly, (ii) risks
associated with the hotel industry, including competition,
increases in wages, energy costs and other operating costs, actual
or threatened terrorist attacks, downturns in general and local
economic conditions and cancellation of or delays in the completion
of anticipated demand generators, (iii) the availability and terms
of financing and capital and the general volatility of securities
markets, (iv) risks associated with the real estate industry,
including environmental contamination and costs of complying with
the Americans with Disabilities Act and similar laws, (v) interest
rate increases, (vi) the possible failure of the Company to qualify
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 and (ix) 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.
LaSalle Hotel PropertiesBruce Riggins or Kenneth
Fuller301-941-1500
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