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LaSalle Hotel Properties (NYSE:LHO) today provided notice to the holders of its 7.5% Series D Cumulative Redeemable Preferred Shares (the “Series D Preferred Shares”) and 8% Series E Cumulative Redeemable Preferred Shares (the “Series E Preferred Shares”) of the redemption of those shares. The cash redemption price for the Series D Preferred Shares and Series E Preferred Shares is $25.00 per share, plus accrued and unpaid dividends through the redemption date.
The redemption date will be May 21, 2012. After the redemption date, dividends on the Series D Preferred Shares and Series E Preferred Shares will cease to accrue. Payment of the redemption price will be made only upon presentation and surrender of certificates representing the Series D Preferred Shares and Series E Preferred Shares to Wells Fargo Bank, N.A., the Company’s transfer agent, during its normal business hours at the address specified in the Notice of Redemption.
The Notice of Redemption and related materials were mailed today to holders of record of the Series D Preferred Shares and Series E Preferred Shares. Questions relating to the Notice of Redemption and related materials should be directed to Wells Fargo Bank, N.A., at 1-877-262-8260.
LaSalle Hotel Properties is a leading multi-operator real estate investment trust owning 38 upscale full-service hotels, totaling approximately 10,200 guest rooms in 13 markets in 9 states and the District of Columbia. The Company focuses on owning, redeveloping and repositioning upscale full-service hotels located in urban, resort and convention 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, Sandcastle Resorts & 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.