LaSalle Hotel Properties Announces the Partial Redemption of 7.25% Series G Cumulative Redeemable Preferred Shares

  LaSalle Hotel Properties Announces the Partial Redemption of 7.25% Series G
  Cumulative Redeemable Preferred Shares

Business Wire

BETHESDA, Md. -- March 6, 2013

LaSalle Hotel Properties (NYSE:LHO) today provided notice to the holders of
its 7.25% Series G Cumulative Redeemable Preferred Shares (the “Series G
Preferred Shares”) of the redemption of 4,000,000 of the 6,348,888 issued and
outstanding Series G Preferred Shares, representing approximately 63% of the
outstanding shares. The cash redemption price for the Series G Preferred
Shares is $25.00 per share, plus accrued and unpaid dividends through the
redemption date.

The redemption date will be April 5, 2013. Redemptions will be on a pro rata
basis (as nearly as practicable without creating fractional shares). All
Series G Preferred Shares are held through the Depositary Trust Company (DTC),
and the shares called for redemption will be chosen and redeemed according to
DTC’s procedures.

After the redemption date, dividends on the Series G Preferred Shares called
for redemption will cease to accrue. Payment of the redemption price will be
made only upon presentation and surrender of certificates representing the
Series G Preferred Shares to Wells Fargo Bank, N.A., the Company’s transfer
agent, during its normal business hours at the address specified in the Notice
of Redemption.

The Notice of Redemption and related materials were mailed today to holders of
record of the Series G Preferred Shares. Questions relating to the Notice of
Redemption and related materials should be directed to Wells Fargo Bank, N.A.,
at 1-800-468-9716.

LaSalle Hotel Properties is a leading multi-operator real estate investment
trust. The Company owns 40 hotels and a mezzanine loan secured by two hotels
in Santa Monica, CA. The properties are upscale full-service hotels, totaling
over 10,600 guest rooms in 13 markets in nine states and the District of
Columbia. The Company focuses on owning, redeveloping and repositioning
upscale and luxury, full-service hotels located in convention, resort and
major urban business 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.

This press release, together with other statements and information publicly
disseminated by the Company, contains certain forward-looking statements
within the meaning of Section27A of the Securities Act of 1933, as amended,
and Section21E of the Securities Exchange Act of 1934, as amended. The
Company intends such forward-looking statements to be covered by the safe
harbor provisions for forward-looking statements contained in the Private
Securities Litigation Reform Act of 1995 and includes this statement for
purposes of complying with these safe harbor provisions. Forward-looking
statements, which are based on certain assumptions and describe the Company’s
future plans, strategies and expectations, are generally identifiable by use
of the words “will,” “believe,” “expect,” “intend,” “anticipate,” “estimate,”
“project” or similar expressions. You should not rely on forward-looking
statements since they involve known and unknown risks, uncertainties and other
factors that are, in some cases, beyond the Company’s control and which could
materially affect actual results, performances or achievements.
Forward-looking statements in this press release include statements about the
redemption of the Series G Preferred Shares. Factors that may cause actual
results to differ materially from current expectations include, but are not
limited to, (i) the Company’s dependence on third-party managers of its
hotels, including its inability to implement strategic business decisions
directly, (ii) risks associated with the hotel industry, including
competition, increases in wages, energy costs and other operating costs,
actual or threatened terrorist attacks, downturns in general and local
economic conditions and cancellation of or delays in the completion of
anticipated demand generators, (iii) the availability and terms of financing
and capital and the general volatility of securities markets, (iv) risks
associated with the real estate industry, including environmental
contamination and costs of complying with the Americans with Disabilities Act
and similar laws, (v) interest rate increases, (vi) the possible failure of
the Company to qualify as a REIT and the risk of changes in laws affecting
REITs, (vii) the possibility of uninsured losses, (viii) risks associated with
redevelopment and repositioning projects, including delays and cost overruns
and (ix) the risk factors discussed in the Company’s Annual Report on Form
10-K. Accordingly, there is no assurance that the Company's expectations will
be realized. Except as otherwise required by the federal securities laws, the
Company disclaims any obligation or undertaking to publicly release any
updates or revisions to any forward-looking statement contained herein (or
elsewhere) to reflect any change in the Company’s expectations with regard
thereto or any change in events, conditions or circumstances on which any such
statement is based.

  For additional information or to receive press releases via e-mail, please
                 visit our website at www.lasallehotels.com.

Contact:

LaSalle Hotel Properties
Bruce Riggins and Kenneth Fuller, 301-941-1500
 
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