The Hotel will be closed later this year to undergo a comprehensive
renovation that will include upgrades to the guestrooms and public
spaces. When the Hotel re-opens in the third quarter of 2014, it will
continue to have the Residence Inn by
“Our acquisition of this mortgage loan provided us with yet another
opportunity to purchase an attractive asset in a key market at a
significant discount to replacement cost,” commented Thomas J.
Located in one of the country’s major gateways to the southeast, the
Hotel will benefit from Atlanta’s diverse economy. The
The Hotel is located in Midtown Atlanta, which is known for its urban,
high-density office, commercial, and residential setting. Midtown is
home to major employers including the
The Company expects that the Hotel will continue to benefit from its
strong location, brand affiliation, and once completed, from its
comprehensive renovation. With the addition of this asset, the Company
now owns 150 properties, comprised of 148 hotels with more than 22,300
rooms and two planned hotel conversions, 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
Source:
RLJ Lodging Trust
Leslie D. Hale, Chief Financial Officer
301-280-7774