BETHESDA, Md.--(BUSINESS WIRE)--Dec. 6, 2017--
RLJ Lodging Trust (the “Company”) (NYSE: RLJ) today announced that it
has expanded its relationship with Interstate Hotels and Resorts
(“Interstate”) in connection with White Lodging’s sale of management
contracts to Interstate. The transaction is expected to close on or
about January 31, 2018. The terms of the original White Lodging
contracts will remain in effect.
“This transaction will result in Interstate Hotels becoming our largest
management company,” commented Ross H. Bierkan, President and Chief
Executive Officer. “We value our long-standing relationship with White
Lodging and thank them for their management of these assets. Interstate
is an excellent operator and already manages 11 of our hotels. We are
excited to expand our relationship with Interstate and look forward to
the fresh perspective they will bring to these assets.”
Once the transaction is completed, the Company will have 73 hotel
management contracts with Interstate, including 62 hotel contracts
acquired from White Lodging, which represent less than 20% of the
Company’s hotel EBITDA. White Lodging will continue to manage 9 of the
Company’s hotels.
About Us
RLJ Lodging Trust is a self-advised, publicly traded real estate
investment trust focused on acquiring premium-branded, focused-service
and compact full-service hotels. The Company’s portfolio consists of 158
hotels with approximately 31,180 rooms located in 26 states and the
District of Columbia and an ownership interest in one unconsolidated
hotel with 171 rooms.
View source version on businesswire.com: http://www.businesswire.com/news/home/20171206005657/en/
Source: RLJ Lodging Trust
RLJ Lodging Trust
Leslie D. Hale, 301-280-7774
Chief
Operating Officer and Chief Financial Officer
For
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visit our website:
http://rljlodgingtrust.com
