RLJ Lodging Trust Sells the 309-Room DoubleTree by Hilton Burlington Vermont (“Burlington”) for $35 Million

RLJ | October 3, 2018

BETHESDA, Md.—October 3, 2018--RLJ Lodging Trust (the "Company") (NYSE:RLJ) today announced that the Company has sold the 309-room DoubleTree by Hilton Burlington Vermont ("Burlington") for $35.0 million. Based on the trailing twelve months ended August 2018, the sales price represents a 17.3x EBITDA multiple and 4.5% capitalization rate, inclusive of required capital expenditures. "The sale of Burlington at a highly attractive valuation once again underscores the great strides we have made in harvesting value from the sale of the non-core assets we had identified," commented Leslie D. Hale, President and Chief Executive Officer. ...