The Company is updating its 2012 outlook, tightening the range to reflect its expectations for the one remaining quarter of the year. 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|
|($'s in millions except per share/unit data)|
|Hotel EBITDA Margins||32.3||%||32.8||%||32.3||%||32.5||%|
|Hotel EBITDA Margin Change||125 bps||175 bps||125 bps||150 bps|
|Adjusted FFO per diluted share/unit||$||2.09||$||2.17||$||2.09||$||2.10|
The Company will conduct its quarterly conference call on Thursday, October 18, 2012 at 10:00 AM EDT. To participate in the conference call, please dial (888) 811-5421. 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.