The Hotel, which is located in the heart of
“We are excited to add this recently renovated hotel to our portfolio
and to further expand our
The Hotel’s submarket is exhibiting strong hotel fundamentals with a
RevPAR increase of 15.8% in 2014 and an increase of approximately 15.3%
for the first six months of 2015, per
Palo Alto is also home to a diverse base of corporate, research and
education related demand generators. Major corporate employers in close
proximity to the Hotel include well recognized names such as
With a growing base of demand generators, the
The Company believes that this recently renovated hotel is well
positioned in this attractive, growing market. With the addition of this
asset, the Company now owns 127 hotels, with approximately 21,100 rooms,
located in 22 states and the
About Us
Forward Looking Statements
The following information contains certain statements, other than
purely historical information, including estimates, projections,
statements relating to the Company’s business plans, objectives and
expected operating results, and the assumptions upon which those
statements are based, that are "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act of 1995, Section
27A of the Securities Act of 1933, as amended and Section 21E of the
Securities Exchange Act of 1934, as amended. These forward-looking
statements generally are identified by the use of the words “believe,”
“project,” “expect,” “anticipate,” “estimate,” “plan,” “may,” “will,”
“will continue,” “intend,” “should,” “may” or similar expressions.
Although the Company believes that the expectations reflected in such
forward-looking statements are based upon reasonable assumptions,
beliefs and expectations, such forward-looking statements are not
predictions of future events or guarantees of future performance and the
Company’s actual results could differ materially from those set forth in
the forward-looking statements. Some factors that might cause such a
difference include the following: the current global economic
uncertainty, increased direct competition, changes in government
regulations or accounting rules, changes in local, national and global
real estate conditions, declines in the lodging industry, seasonality of
the lodging industry, risks related to natural disasters, such as
earthquakes and hurricanes, hostilities, including future terrorist
attacks or fear of hostilities that affect travel, the Company’s ability
to obtain lines of credit or permanent financing on satisfactory terms,
changes in interest rates, access to capital through offerings of the
Company’s common and preferred shares of beneficial interest, or debt,
the Company’s ability to identify suitable acquisitions, the Company’s
ability to close on identified acquisitions and integrate those
businesses and inaccuracies of the Company’s accounting estimates. Given
these uncertainties, undue reliance should not be placed on such
statements. Except as required by law, the Company undertakes no
obligation to update or revise publicly any forward-looking statements,
whether as a result of new information, future events or otherwise. The
Company cautions investors not to place undue reliance on these
forward-looking statements and urge investors to carefully review the
disclosures the Company makes concerning risks and uncertainties in the
sections entitled “Risk Factors,” “Forward-Looking Statements,” and
“Management’s Discussion and Analysis of Financial Condition and Results
of Operations” in the Company’s Annual Report, as well as risks,
uncertainties and other factors discussed in other documents filed by
the Company with the
View source version on businesswire.com: http://www.businesswire.com/news/home/20150928005884/en/
Source:
RLJ Lodging Trust
Leslie D. Hale, 301-280-7774
Chief
Financial Officer