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RLJ Lodging Trust Announces Closing Of $313 Million, 10-Hotel Portfolio Acquisition From Affiliates Of Hyatt Hotels Corporation

RLJ Lodging Trust (NYSE: RLJ) (“RLJ”) and Hyatt Hotels Corporation (NYSE: H) (“Hyatt”) today announced that their affiliates have closed on the previously announced purchase and sale of 10 Hyatt, Hyatt Place and Hyatt House hotels, totaling 1,560 rooms. Hyatt affiliates will manage the hotels under new management agreements.

The portfolio, which is comprised of the hotels listed below and located primarily on the West Coast, was acquired for a total purchase price of approximately $313 million. RLJ intends to spend approximately $25 million in capital expenditures across the portfolio, the majority of which will be invested over the next 24 months.

Details of the hotels are listed below:

             
Property   City   State   Rooms
Hyatt House Cypress / Anaheim   Cypress   CA   142
Hyatt House Emeryville / SF Bay Area Emeryville CA 234
Hyatt Place Fremont / Silicon Valley Fremont CA 151
Hyatt House San Diego / Sorrento Mesa San Diego CA 193
Hyatt House San Jose / Silicon Valley San Jose CA 164
Hyatt House San Ramon San Ramon CA 142
Hyatt House Santa Clara Santa Clara CA 150
Hyatt Market Street, The Woodlands Woodlands TX 70
Hyatt House Charlotte / Center City Charlotte NC 163
Hyatt Place Madison / Downtown   Madison   WI   151
Total 1,560
 

With the addition of these hotels, RLJ owns 147 properties, consisting of 145 hotels with approximately 22,500 rooms and two planned hotel conversions, located in 22 states and the District of Columbia.

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