RLJ Lodging Trust Completes Sale of Kingston Plantation for $156 Million ($244K/Key)

RLJ Lodging Trust | July 2, 2019

BETHESDA, Md. -- RLJ Lodging Trust (the “Company”) (NYSE: RLJ) today announced that the Company sold two hotels located in Myrtle Beach consisting of the 385-room Hilton Myrtle Beach Resort and 255-room Embassy Suites by Hilton Myrtle Beach Oceanfront Resort (“Kingston Plantation”) for $156.0 million or approximately $244,000 per key. “We are pleased with the solid execution and attractive multiple generated by the sale of these two beachfront hotels,” commented Leslie D. Hale, President and Chief Executive Officer. “This transaction is a continuation of our strategic efforts to sell non-core hotels and recycle capital into m...