LaSalle Hotel Properties has been a leading real estate investment trust with superior results and returns since the initial public offering (IPO) in April of 1998. From 10 hotels in April 1998 to 32 hotels in 2010, the Company adhered consistently to its strict investment and balance sheet strategies in order to maximize shareholder returns. Below are some of the major Company transactions by year:

1998

  • April: initial public offering.
  • June: acquired San Diego Paradise Point Resort (462 rooms) in San Diego, CA; and the Hyatt Harborside (270 rooms) in Boston, MA.

1999

  • June: acquired the Hotel Viking (222 rooms) in Newport, RI.

2000

  • January: acquired the Chicago Marriott Downtown (1,192 rooms) in a joint venture with The Carlyle Group.
  • August: sold Holiday Inn Visalia in Visalia, CA.

2001

  • March: acquired the DC Collection:  four full-service hotels encompassing 496-guestrooms.  Converted the four hotels to upscale, urban properties managed by the Kimpton Hotel & Restaurant Group, LLC.
  • June: acquired Holiday Inn on the Hill (343 rooms) in Washington, DC.
  • August: sold Radisson Tampa Hotel in Tampa, FL.

2002

  • March: $99.8 million 10 ¼% Series A preferred share offering.

2003

  • April: sold New Orleans Grande Hotel for a gain of $37 million in New Orleans, LA.
  • June: acquired Lansdowne Resort (296 rooms) in Leesburg, VA; and $33.1 million common equity offering.
  • July: sold Holiday Inn Beachside Resort in Key West, FL.
  • September: acquired Hotel George (139 rooms) in Washington, DC; and $27.5 million 8 3/8% Series B preferred share offering.
  • November: $50.9 million common equity offering.

2004

  • February: acquired Indianapolis Marriott Downtown (615 rooms) in Indianapolis, IN.
  • May: $62.4 million common equity offering; and acquired Hilton Alexandria Old Town (241 rooms) in Alexandria, VA.
  • September: sold Omaha Marriott for a gain of $2.6 million in Omaha, NE.
  • November: $57.2 million common equity offering; and acquired Chaminade Resort (153 rooms) in Santa Cruz, CA.

2005

  • January: acquired Hilton San Diego Gaslamp Quarter (282 rooms) in San Diego, CA; and acquired the Grafton on Sunset (108 rooms) in Los Angeles, CA.
  • May: acquired Onyx Hotel (112 rooms) in downtown Boston, MA.
  • June: Amended Unsecured Credit Facility lowering borrowing cost by 50 basis points.
  • July: increased monthly dividend by 25% to $0.10.
  • August: issued $58.7 million of preferred operating partnership units with coupon rate of 7 ¼% in conjunction with Westin Copley Place (803 rooms) acquisition in Boston, MA; $79.3 million 7 ½% Series D preferred share offering.
  • October: $75.5 million common equity offering.
  • December: $114.7 million common equity offering; acquired the University Tower Hotel (158 rooms) in Seattle, WA; acquired Hilton San Diego Resort (357 rooms) in San Diego, CA; and acquired the Washington Grande Hotel (212 rooms) in Washington, DC.

2006

  • January: acquired the Le Parc Suite Hotel (154 suites) in West Hollywood, CA.
  • February: $87.5 million 8.0% Series E preferred share offering; and $142.9 million common equity offering.
  • March: acquired Westin Michigan Avenue Hotel (751 rooms) in Chicago, IL; acquired House of Blues Hotel (367 rooms) in Chicago, IL; and sold our joint venture with The Carlyle Group the Chicago Marriott Downtown.
  • April: increased monthly dividend by 40% to $0.14.
  • June: acquired Alexis Hotel (109 rooms) in Seattle, WA.
  • August: acquired Hotel Solamar (235 rooms) in downtown San Diego, CA.
  • November: $100.0 million 7.25% Series G preferred share offering; acquired Holiday Inn Manhattan Wall Street District (138 rooms) in New York, NY
  • December: acquired The Graciela Burbank (99 rooms) in West Los Angeles, CA

2007

  • January: sold LaGuardia Marriott for a gain of $31.1 million in New York, NY.
  • March: Redeemed 10.25% Series A Cumulative Redeemable Preferred Shares.
  • April: Increased monthly dividend by 21% to $0.17 and amended Senior Unsecured Credit Facility to lower pricing by 80 to 100 basis points and extend maturity to April 2011 with the option to extend to April 2012.

2008

  • January: Increased capacity on Senior Unsecured Credit Facility by $150 million to $450 million.
  • March: acquired 95% controlling interest in a joint venture owning floors 2 – 13 of the landmark IBM building in Chicago, IL.
  • April: entered into a joint venture with LaSalle Investment Management to seek hotel investments in high barrier-to-entry urban and resort markets in the U.S.
  • June: Announced Succession Plan.
  • July: Increased monthly dividend by 3% to $0.175 per share per month and increased the full Board of Trustees to 8 by appointing Michael D. Barnello to the Board.
  • October: Proactively reduced dividend to $0.085 per share per month in order to conserve capital in extremely difficult economic times.

2009

  • February: Proactively reduced dividend to $0.01 per share per quarter in order to conserve capital in an extremely challenging economic environment.
  • April: $119.3 million common equity offering.
  • June: $141.0 million common equity offering
  • September: LaSalle Hotel Properties announced that it named Michael D. Barnello Chief Executive Officer.

2010

  • March: Acquired Sofitel Washington, DC Lafayette Square (237 rooms); $109.1 million common equity offering.