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Stock Market & Financial Investment News

News Breaks
February 21, 2014
09:16 EDTRLJRLJ Lodging Trust sells non-strategic portfolio of 11 hotels for approx. $85M
RLJ Lodging Trust has closed on the sale of a portfolio of 11 hotels for approximately $85M. The sale price represents approximately a 7.9% capitalization rate on the Portfolio’s estimated 2013 net operating income, adjusted for approximately $23M of pending capital expenditures. The estimated combined 2013 revenue per available room for the Portfolio was approximately $68.00, which represents a discount of more than 30.0% to the company’s estimated 2013 pro forma RevPAR. The sale of this Portfolio will improve the company’s RevPAR and geographic profile.
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July 15, 2014
09:16 EDTRLJRLJ Lodging Trust acquires Hyatt Atlanta Midtown for $49.5M
RLJ Lodging Trust announced that it has acquired the 194-room Hyatt Atlanta Midtown located in Atlanta, GA for a purchase price of $49.5M, or approximately $255,000 per key. The purchase price represents a forward capitalization rate of approximately 8.0% on the Hotel’s projected 2015 net operating income. The company purchased the Hotel with proceeds from its recent equity offering.

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