BETHESDA, Md.--(BUSINESS WIRE)--LaSalle Hotel Properties (NYSE: LHO) today announced that it increased its dividend to $0.28 per common share of beneficial interest for the quarter ending September 30, 2013. The third quarter dividend will be paid on October 15, 2013 to common shareholders of record on September 30, 2013.
“We are very excited to announce that we have increased the common dividend by 40 percent to an annual run rate of $1.12,” said Michael D. Barnello, President and Chief Executive Officer of LaSalle Hotel Properties. “Our strong results year-to-date have been encouraging while our outlook for the balance of the year is solid.”
LaSalle Hotel Properties is a leading multi-operator real estate investment trust. The Company owns 40 hotels and a mezzanine loan secured by two hotels in Santa Monica, CA. The properties are upscale full-service hotels, totaling over 10,600 guest rooms in 13 markets in nine states and the District of Columbia. The Company focuses on owning, redeveloping and repositioning upscale and luxury, full-service hotels located in convention, resort and major urban business markets. LaSalle Hotel Properties seeks to grow through strategic relationships with premier lodging companies, including Westin Hotels and Resorts, Hilton Hotels Corporation, Outrigger Lodging Services, Noble House Hotels & Resorts, Hyatt Hotels Corporation, Benchmark Hospitality, White Lodging Services Corporation, Thompson Hotels, Davidson Hotel Company, Denihan Hospitality Group, the Kimpton Hotel & Restaurant Group, LLC, Accor, Destination Hotels & Resorts, HEI Hotels & Resorts, JRK Hotel Group, Inc., Viceroy Hotel Group, Highgate Hotels and Access Hotels & Resorts.
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