Hotel Job Resource - LaSalle Hotel Properties Hotel News

Room revenue per available room for the quarter ended March 31, 2012 increased 6.2 percent to $127.06, as a result of a 3.9 percent increase in average daily rate to $176.78 and a 2.3 percent increase in occupancy to 71.9 percent.

LaSalle Hotel Properties (NYSE: LHO) announced the acquisition of Hotel Palomar, Washington, DC for $143.8 million in an off-market transaction.

The Company’s hotel EBITDA margin for the fourth quarter was 29.3 percent, an 87 basis point improvement compared to the comparable prior year period. The margin increase, excluding the impact of a successful real estate tax appeal for our Chicago properties in the fourth quarter of 2010, was 154 basis points.

Jeff Foland, Executive Vice President of United Airlines and President of Mileage Plus Holdings, LLC to Serve as Independent Trustee

LaSalle Hotel Properties (NYSE:LHO) today announced that it acquired The Park Central Hotel in New York City for $396.2 million. The 934-room, urban, full service hotel is located on Seventh Avenue, between West 55th and West 56th Streets, in midtown Manhattan.

Achieves 6.4 percent RevPAR growth (6.9 percent excluding Hurricane Irene impact) and Hotel EBITDA margin improvement of 208 basis points to 33.6 percent

LaSalle Hotel Properties (NYSE: LHO) today announced that it acquired the Villa Florence hotel in San Francisco for $67.2 million. The 182-room, urban, full service hotel is located at 225 Powell Street in the heart of the Union Square district of San Francisco. The transaction was funded with cash on hand.

Achieves 6.3 percent RevPAR growth and Hotel EBITDA margin improvement of 180 basis points to 35.1 percent

LaSalle Hotel Properties (NYSE:LHO) announced that it signed a Purchase and Sale Agreement to acquire The Park Central Hotel for $405.5 million.

'Despite having four properties under major renovation and unfortunate weather in the Northeast during the quarter, both RevPAR and hotel EBITDA margins were strong for the portfolio, which resulted in a 53% increase in adjusted EBITDA for the Company'