RLJ Lodging Trust Announces Closing of $313 Million, 10-Hotel Portfolio Acquisition from Affiliates of Hyatt Hotels Corporation
RLJ Lodging Trust (NYSE: RLJ) ("RLJ") and Hyatt Hotels Corporation (NYSE: H) ("Hyatt") today announced that their affiliates have closed on the previously announced purchase and sale of 10 Hyatt, Hyatt Place and Hyatt House hotels, totaling 1,560 rooms. Hyatt affiliates will manage the hotels under new management agreements.
West Coast, was acquired for a total purchase price of approximately $313 million. RLJ intends to spend approximately $25 million in capital expenditures across the portfolio, the majority of which will be invested over the next 24 months.
Details of the hotels are listed below:
With the addition of these hotels, RLJ owns 147 properties, consisting of 145 hotels with
About RLJ Lodging Trust
RLJ Lodging Trust is a self-advised, publicly traded real estate investment trust focusedon acquiring premium-branded, focused-service and compact full-service hotels. For more information, please visit www.rljlodgingtrust.com.
About Hyatt Hotels Corporation
Hyatt Hotels Corporation, headquartered in Chicago, is a leading global hospitality company with a portfolio of 12 premier brands and 679 properties in 54 countries, as of September 30, 2016. The Company's purpose to care for people so they can be their best informs its business decisions and growth strategy and is intended to create value for shareholders, build relationships with guests and attract the best colleagues in the industry. The Company's subsidiaries develop, own, operate, manage, franchise, license or provide services to hotels, resorts, branded residences and vacation ownership properties, including under the Park Hyatt®, Grand Hyatt®, Hyatt Regency®, Hyatt®, Andaz®, Hyatt Centric®, The Unbound Collection by Hyatt™, Hyatt Place®, Hyatt House®, Hyatt Ziva™, Hyatt Zilara™ and Hyatt Residence Club® brand names and have locations on six continents. For more information, please visit www.hyatt.com.