RLJ Lodging Trust Expands Relationship with Interstate Hotels and Resorts
December 06 2017 - 7:15AM
Business Wire
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.
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version on businesswire.com: http://www.businesswire.com/news/home/20171206005657/en/
RLJ Lodging TrustLeslie D. Hale, 301-280-7774Chief
Operating Officer and Chief Financial OfficerFor additional
information or to receive press releases via email, please visit
our website:http://rljlodgingtrust.com
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