The Company is updating its 2012 outlook and has incorporated the acquisition of the mezzanine loan and its planned placement of a new five-year term loan. The revised outlook assumes no additional acquisitions or equity issuance for the remainder of 2012. The Company’s revised financial expectations for 2012 are as follows:
|Previous Outlook||Current Outlook|
|($'s in millions except per share/unit data)|
|Hotel EBITDA Margins||32.0%||33.0%||32.3%||32.8%|
|Hotel EBITDA Margin Change||100 bps||200 bps||125 bps||175 bps|
|Adjusted FFO per diluted share/unit||$||2.09||$||2.21||$||2.09||$||2.17|
The Company will conduct its quarterly conference call on Thursday, July 19, 2012 at 8:30 AM EDT. To participate in the conference call, please dial (888) 715-1394. Additionally, a live webcast of the conference call will be available through the Company’s website. To access, log on to http://www.lasallehotels.com. A replay of the conference call will be archived and available online through the Investor Relations section of http://www.lasallehotels.com.LaSalle Hotel Properties is a leading multi-operator real estate investment trust. The Company owns interests in 40 hotels of which 38 are owned 100 percent. The 38 wholly-owned properties are upscale full-service hotels, totaling 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, 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.