NEW YORK--(BUSINESS WIRE)--As Pebblebrook Hotel Trust [NYSE:PEB] pursues its offer to acquire Lasalle Hotel Properties [NYSE:LHO], labor negotiations loom at union hotels owned by the two REITs, according to hospitality union UNITE HERE.
This summer, Locals of UNITE HERE have citywide contract expirations for over 200 hotels and 45,000 hotel workers in key markets including Boston, Chicago, San Francisco, and Los Angeles.
Lasalle and Pebblebrook have 26% and 31% of hotel EBITDA, respectively, exposed to 2018 union negotiations.
“We urge investors considering Pebblebrook’s stock-based bid to investigate the potential effects of upcoming negotiations on the companies and a possible combination,” said Courtney Alexander, Deputy Director of Research for UNITE HERE.
For more detailed information, please see this short report: http://unitehere.org/wp-content/uploads/PebblebookLasalle.pdf