LaSalle Hotel Properties Announces Two Asset Sales; Under Contract to Sell a Third Hotel for a Combined Total of $218.9 Million

LaSalle Hotel Properties | April 3, 2017

BETHESDA, Md.--LaSalle Hotel Properties (NYSE: LHO) today announced it has sold two hotel assets and is under contract to sell a third hotel for a combined $218.9 million of proceeds: Lansdowne Resort for $133.0 million. The Company acquired the resort in June 2003 for $115.8 million. Alexis Hotel for $71.6 million. The Company acquired the hotel in June 2006 for $38.0 million. Hotel Triton is under contract for $14.25 million. The Company expects the sale to close in April 2017. The Company acquired the hotel in August 2013 for $10.9 million. The Company will use proceeds from the asset sales to redeem the $68.8 million outstandin...