News Releases

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

BETHESDA, MD (March 13, 2014) – 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.

About RLJ Lodging Trust

RLJ Lodging Trust is a self-advised, publicly traded real estate investment trust focused on acquiring premium-branded, focused-service and compact full-service hotels. For more information, please visit www.rljlodgingtrust.com.

For further information:

About Hyatt Hotels Corporation

Hyatt Hotels Corporation, headquartered in Chicago, is a leading global hospitality company with a proud heritage of making guests feel more than welcome. Thousands of members of the Hyatt family strive to make a difference in the lives of the guests they encounter every day by providing authentic hospitality. The Company's subsidiaries manage, franchise, own and develop hotels and resorts under the Hyatt®, Park Hyatt®, Andaz®, Grand Hyatt®, Hyatt Regency®, Hyatt Place®, Hyatt House®, Hyatt Zilara™ and Hyatt Ziva™ brand names and have locations on six continents. Hyatt Residential Group, Inc., a Hyatt Hotels Corporation subsidiary, develops, operates, markets or licenses Hyatt Residences® and Hyatt Residence Club®. As of December 31, 2013, the Company's worldwide portfolio consisted of 548 properties in 48 countries. For more information, please visit www.hyatt.com. 

# # #

RLJ Lodging Trust Contact:
Leslie D. Hale, Chief Financial Officer – (301) 280-7774

Hyatt Media Contact:
Farley Kern, Vice President, Corporate Communications – (312) 780-5506
farley.kern@hyatt.com

Hyatt Investor Contact:
Atish Shah, Senior Vice President, Investor Relations – (312) 780-5427
atish.shah@hyatt.com


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