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Stock Market & Financial Investment News

News Breaks
July 23, 2014
16:25 EDTLHOLaSalle Hotel reports Q2 adjusted FFO 82c, consensus 81c
Reports Q2 revenue $313.1M, consensus $305.87M. Reports Q2 room revenue per available room, or RevPAR, increased 10.3% to $207.94, as a result of a 6.6% increase in average daily rate to $241.08 and a 3.4% improvement in occupancy to 86.3%.
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September 10, 2014
09:02 EDTLHOLaSalle Hotel announces contract to sell Hotel Viking for $77M
LaSalle Hotel Properties announced that it has entered into a definitive contract to sell Hotel Viking in Newport, Rhode Island for $77M. The cmpany expects the transaction to close this week. The company acquired the hotel in June, 1999 for $27M. Proceeds from the transaction will be used to reduce borrowings on the company’s Senior Unsecured Credit Facility. In conjunction with the sale of Hotel Viking, the company is executing a reverse 1031 exchange with Hotel Vitale, which it purchased during April.

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